TBC Partners with Visa and Turkish Airlines to Launch Georgia’s First Premium Travel Card

TBC Concept, Visa, and Turkish Airlines Join Forces to Create an Innovative Travel Card

Georgia’s leading financial institution – TBC, global payment network Visa, and one of the world’s most successful airlines – Turkish Airlines, are launching an unprecedented collaboration.

Through this three-way partnership, an innovative travel card will soon be introduced to the Georgian market. The product is designed specifically for TBC Concept 360 and TBC Wealth Management clients, offering them a completely new level of travel experience.

The memorandum of cooperation was signed by representatives of all three brands on June 12 in Istanbul.

“Bringing together brands of this scale around shared values is unprecedented in Georgia. Our joint vision is based on a simple idea – to offer Georgian customers products and services that provide comfort when traveling anywhere in the world,”
– said Vakhtang Butskhrikidze, CEO of TBC.

The travel card created through this partnership will combine:

• Visa’s travel privileges,
• TBC Bank’s advanced financial services, and
• Turkish Airlines’ Miles & Smiles program.

Cardholders will earn Miles & Smiles points on international transactions, which can be redeemed for airline tickets and other services offered by Turkish Airlines.

Additional travel-related benefits will include:

• Exclusive access to airport lounges,
• Priority security screening,
• Special rates on taxis and international roaming services.

“We are excited to collaborate with TBC and Visa to create a joint travel product – a card that allows users to benefit from their daily expenses. This partnership reflects our key focus: to enhance the travel experience beyond just the flight and to deliver extra value for our passengers,”
– said Arif Ali Gezmisoglu, Senior Vice President of Marketing at Turkish Airlines.

Alongside its premium features, the travel card will stand out with a co-branded design and will be made of high-quality metal, giving it a distinct premium feel.

“I’m proud that Georgia’s first innovative travel card will be exclusively available to the most experienced travelers. In addition to offering a more comfortable, enjoyable, and memorable experience, our clients will now be able to access significant benefits. This collaboration fully aligns with our strategic goal – to create exceptional value for those who truly love to travel,”
– said Diana Kiguradze, Visa’s Regional Manager for the Caucasus and Moldova.

Detailed information about the card’s full functionality will be announced upon its release in the near future.

Registration Opens for TBC IT Academy’s Most In-Demand Free Tech

TBC IT Academy Opens Registration for Its Most In-Demand Courses

TBC IT Academy is offering its most in-demand courses free of charge to individuals who believe education can shape their personal success story.

Starting June 16, registration opens for four highly sought-after tech programs:

• Backend Development (.NET) 
• iOS Development iOS Development
• DevOps DevOps
• Frontend Development (Angular) Frontend Development

These programs are designed for both enthusiastic beginners and experienced professionals who want to upgrade their skills in modern technologies. The registration period will run through June 26, and on June 27, enrollment will open for an additional course: Android Development.

Anyone aged 18 or older who meets the specific course prerequisites is eligible to apply. For detailed information on course requirements, please refer to the provided link- IT Academy.  The TBC IT Academy offers online learning, making high-quality tech education accessible across Georgia and actively contributing to the development of regional IT ecosystems. Courses range in duration from three to six months. Guided by industry-leading tech mentors, students gain both theoretical knowledge and hands-on experience aligned with real-world job expectations.

This approach fosters the development of both technical and soft skills. Top-performing graduates have the opportunity to be employed either within the TBC Group or at leading tech companies.

TBC IT Academy remains committed to strengthening the country’s tech ecosystem and expanding access to quality education. It’s a unique opportunity to acquire a new profession or enhance existing competencies.

TBC Business Award 2025 Breaks Record with Unprecedented Number of Applicants

For the first time in the history of the TBC Business Award, a record-breaking 443 businesses have applied to participate in the 2025 edition—the highest number in the award’s nine-year history.

The registration process closed on June 15. The winners will be announced in July during the final ceremony, where a specially selected jury will choose the best performers.

This year, the TBC Business Award returns with exciting new developments, including a brand-new category: Best Freelancer. Businesses will be recognized across five categories:

1. Best Product
2. Best Innovative Startup
3. Outstanding Social Responsibility
4. Outstanding Regional Impact
5. Best Freelancer

Winners will have the opportunity to choose a prize tailored to their business needs, such as a new website, branding, communication support, and more.

Full details about the 2025 TBC Business Award, including participant profiles and project updates, can be found on the official website.

The main partner of Business Award 2025 is Visa, with support from Adjara Group and Tegeta Business. Media partners include Marketer.ge, BMG, On.ge, and Entrepreneur Georgia.

Middle East Tensions: TBC Capital Highlights Economic Risks and a Surprising Shift in U.S. Dollar Status

Over the past few days, the armed conflict in the Middle East has unfortunately intensified once again. TBC Capital has repeatedly addressed the potential impact of regional escalation on Georgia’s economy in previous publications. While various scenarios of future developments imply different effects, the key transmission channels remain broadly consistent. For TBC Capital readers, these arguments are well known—with one notable exception: a weakening of the U.S. dollar’s status as a safe-haven currency.

Let’s begin with the direct effects. In the short term, the sector most vulnerable to increased risks is tourism. In 2024, Israel accounted for 5% of Georgia’s total foreign currency inflows and 10% of tourism-related revenues. As of now, Israel’s airspace remains closed to civil aviation. Furthermore, despite no official flight restrictions, proximity to the conflict zone could lead to reduced flights from other regional countries, such as Saudi Arabia, which has recently been contributing a growing share to Georgia’s tourism revenues.

On the other hand, migration effects must also be considered. For instance, following the events of October 2023, the decline in Israeli tourist spending was offset by increased consumer spending from Israeli non-residents—highlighting a certain positive effect of migration.

While Georgia is a net importer of petroleum products and the recent 7.5% rise in oil prices over the past five days presents a challenge, this is partially offset by relatively stronger foreign currency inflows from oil-producing countries. According to our assessment, these factors largely balance each other out. It’s also worth noting that over the past two months, falling gasoline and diesel prices contributed about 0.5 percentage points to the reduction in annual inflation. Should global oil prices continue to rise, this disinflationary pressure would diminish. Moreover, potential increases in transportation and insurance costs are also worth monitoring.

TBC Capital readers will find most of the above familiar. However, there is one important new development: typically, during periods of heightened risk, the U.S. dollar strengthens as investors seek refuge in safe-haven assets. This time, however, the dollar appreciated only briefly in the initial hours of the conflict escalation, then quickly lost ground again. In our previous publication, we explored this unusual behavior of the U.S. dollar—mirroring currencies of emerging markets.

What does this mean for Georgia? If a business strategy based on GEL/EUR/USD involves lower borrowing in USD due to depreciation, then a weakened safe-haven status argues in the opposite direction. This is especially important for businesses: if a “safe” asset implies a stronger currency during turbulent times, then growing debt alongside declining sales and profitability may lead to even more undesirable outcomes.

More specifically, our assessment suggests the long-term equilibrium for the EUR/USD exchange rate is around 1.29. For Georgia, considering its relative risk profile, a rate closer to 1.18 is more realistic. In practical terms, since the euro is less risky for Georgia than the U.S. dollar, a higher proportion of euro-denominated borrowing is optimal—more so than in a scenario with equal currency risk.

It’s also important to consider a possible resolution to the Russia-Ukraine conflict. In such a scenario, the euro may appreciate without a corresponding strengthening of the Georgian lari. That would reduce the argument for euro-denominated debt in this specific case—just as the weakening of the dollar’s safe-haven role does.

Bottom line – what is our updated recommendation?
On the one hand, despite the somewhat diminished safe-haven status, the recent strengthening of the euro still justifies taking slightly more, but not excessive, euro-denominated loans. On the other hand, when assuming currency risk in debt structuring, the share of USD should still be higher than that of the euro. This may sound complex at first, but applying this strategy can lead to significant financial benefits.

Read the full publication here.

TBC Capital Releases Macroeconomic Update — This Time on Uzbekistan

The Uzbek Som: How Attractive Is It for Investment?
In October of last year, as part of a new series of publications by TBC Capital — aimed at integrating macroeconomic analysis into strategic business decision-making — we discussed the Uzbek som along with the investment opportunities and risks associated with it. We highlighted the attractiveness of local currency-denominated long-term products, even when assessed in US dollars.

This time, we revisit the views expressed in that publication to evaluate how accurate our projections turned out to be — projections that formed the basis of our conclusions.

As a reminder, the macroeconomic factors analyzed in the original study included:

• External sector performance
• Credit growth
• Global price trends for gold and other commodities
• Inflation
• Exchange rate dynamics of the US dollar and other currencies
• Interest rate trends

Compared to the publication date:

• The Uzbek som has appreciated against the US dollar
• Inflation, excluding one-off factors, has approached the target level
• Credit growth has normalized, and the lag in deposit growth has been resolved
• Market interest rates have declined
• The external sector balance has improved

To illustrate: if one had invested in a one-year private sector bank deposit in Uzbek som back in October, the expected return in US dollar terms would now be approximately 24.3%.

Accordingly, we maintain our position that a further decline in interest rates on Uzbek som-denominated assets is likely, while the som’s exchange rate may continue to depreciate less or even appreciate — assuming continued global dollar weakness.

This reinforces our previous outlook: when carefully weighing the opportunities and risks, local currency-denominated, particularly long-term investment products, remain attractive. Not only do our forecasts support this view, but recent developments also align with it.

Read the full report at the following link. 

TBC x Vere: Empowering Bold Goals through Belief and Support

TBC has become a proud supporter of the women’s football club Vere. This marks the brand’s first step toward strengthening women’s sports—an area where solidarity, support, and the power of belief are core values.

Women’s Football Club Vere was founded in Tbilisi in 2022. The team made its debut in League 2 in 2023 and closed a strong first season by finishing 3rd out of 15 teams.

Starting in 2025, Vere will compete in Georgia’s Women’s Premier League. One of the club’s main goals is to train and develop players for youth and national teams. It is also focused on strengthening its academy, discovering talented players, and offering them continued support. Vere creates a space where everyone has the opportunity to achieve their goals—a place where girls believe in their potential.

Today, the club’s main squad includes 18 players, the second team has 25, and 20 young girls are currently training at the academy. The coaching staff is made up of UEFA-licensed professionals.

With this partnership, TBC once again demonstrates its commitment to the next generation—to their ambitions and every new beginning.

The new generation has always been, and will always be, a source of inspiration for TBC. We believe there are no limits for girls who believe in themselves and their abilities.

We believe every girl who steps onto the field is shaping a free and confident future—and TBC will always support the pursuit of bold ambitions.

TBC’s Business Awards 2025: Empowering Entrepreneurs with Visa as Key Partner

TBC’s Business Awards is being held for the ninth time. This year saw a record-breaking number of business registrations—proof that Georgian entrepreneurs are more eager than ever to express themselves and grow professionally. A total of 443 businesses have already embraced the belief that success is within reach.

Among the standout supporters of the event once again is Visa, the global brand for whom supporting local entrepreneurs and promoting sustainable development is a top priority.

“For us, initiatives like this are far more than just partnerships—they are opportunities to create real change in the local business environment,” says Diana Kiguradze, Visa’s Regional Manager for the Caucasus and Moldova. Diana emphasizes the valuable experience gained over four years of dedicated partnership. For Visa, this collaboration is a natural continuation of its strategic mission to drive digital transformation, financial inclusion, and global market access for small and medium-sized enterprises.

This year, Visa is supporting the ‘Best Innovative Startup’ category. Diana Kiguradze is also serving on the jury, and she shares that she was especially impressed by startups built around technological innovation, aiming to bring meaningful change to the market.

The 2025 Business Awards reaffirm that success is born on the path entrepreneurs walk every day. With the support of global brands like Visa, that path becomes more visible and more achievable.

TBC Simplifies Installment Process for Businesses

TBC has simplified the installment issuance process for its partner companies and customers. Now, any business using TBC’s installment service can submit installment applications for their customers independently—without redirecting them to the bank.

With the new procedure, it takes just 2 minutes to complete an application, enabling companies to serve more customers and boost sales. At the same time, customers benefit from a service that is fast, simple, flexible, and tailored to their needs.

Log in to the Merchant Portal and take advantage of the new digital functionality.
For more details about the simplified installment process, follow the link.

TBC Backs Launch of Georgia’s First Lamborghini Showroom

With the support of TBC, the first official Lamborghini showroom in Georgia has opened its doors in Tbilisi. The exclusive representative of this premium automotive brand in the country is Tegeta Holding, while the primary financial partner behind bringing Lamborghini to the Georgian market is TBC.

The showroom was officially inaugurated by Stephan Winkelmann, President and CEO of Automobili Lamborghini, alongside representatives of Tegeta Holding. Winkelmann emphasized that entering the Georgian market is part of the company’s broader global expansion strategy.

Demand for high-end vehicles in Georgia is steadily rising. Between 2019 and 2024, the number of premium brand vehicles in the market grew by an average of 44% annually. By introducing new brands to the country, TBC and Tegeta Holding are responding to this growing market demand.

“It is a point of pride that our strategic partner, Tegeta Group, has earned Lamborghini’s trust. I believe Lamborghini’s entry into Georgia marks a new chapter for the country’s automotive industry. It signifies the introduction of even higher standards and enhanced services. At the same time, the arrival of a brand of this caliber gives Georgia greater international positioning. Since Tegeta Holding was founded, TBC has been its main financial partner and supporter. Our cooperation spans nearly 30 years and has brought many successful projects to life. The opening of the Lamborghini showroom is yet another example of our fruitful partnership,” said Giorgi Tkhelidze, Deputy CEO of TBC.

“It is a great honor for us that Automobili Lamborghini entrusted us with representing this legendary brand in our region. We thank the Lamborghini team for attending our launch event — their presence once again underscores the strength of our partnership and the shared values that unite us: precision, progress, and relentless pursuit of perfection. At Tegeta Holding, we have always believed in setting new standards. From the early days of Georgia’s automotive industry to today — achieving the milestone of bringing a legendary brand like Lamborghini to the country — the driving forces behind our journey have always been bold dreams and a deep sense of responsibility,” said Petre Tsakadze, Chief Officer of the Light Vehicles Division at Tegeta Holding.

The Lamborghini showroom is located at 129 Aghmashenebeli Alley, Tbilisi.

.