“The Main Thing is to Believe” — TBC’s Message to the Next Generation

For every new generation, the Last Bell marks one of life’s most meaningful turning points. It’s not just an ending — it’s the beginning of something new. Ahead lies a journey full of challenges, chances, adventures, setbacks, and victories. At this moment, the most important thing is to believe — in yourself, in your strength, and in your dreams. Because there’s nothing you can’t do, if you just believe.

With our new brand platform and message — “The Main Thing is to Believe” — TBC wants to stand beside people during these defining moments, when they make bold decisions and set out on new paths.

To mark this significant milestone — the Last Bell — we created a limited-edition branded shirt in collaboration with one of the new generation’s most admired athletes, Giorgi Mamardashvili. The shirt features Giorgi’s handwritten message, “The main thing is to believe,” along with his autograph, making it a powerful symbol of encouragement and possibility.

The TBC x Giorgi Mamardashvili collaboration is built on a shared goal: to support a new generation — one that is capable of anything, one that is actively shaping the future.

On Last Bell day, the shirt becomes a treasured keepsake — made meaningful by the messages and wishes written on it. It stays with you for life, as a reminder of who you were, and who you chose to become.

“It’s okay if you don’t have all the answers yet. What matters is that you know what you dream of and what your heart desires. The main thing is to believe. Great discoveries and adventures lie ahead.”
— This is TBC’s message to the next generation.

A limited number of branded shirts will be available at select TBC branches in Tbilisi, Kutaisi, Batumi, Poti, Zugdidi, Telavi, Gurjaani, Lagodekhi, Akhaltsikhe, Borjomi, and Bolnisi. Graduating students can register online and pick up their Last Bell gift at their chosen TBC branch.

Promo House: Turning Vision into Value with Support from TBC Business

“Promo House” is an advertising company founded with the support of TBC Business. Since entering the market in 2017, the company has offered a wide range of services, including promotional accessories, outdoor advertising, textile branding, and printing solutions. The idea for the business was born from the shared experience and insight of Natuka Popkhadze and Tekla Chumburidze, who realized that professionalism alone wasn’t enough—they needed a space where their team could express its values, aesthetic vision, and creative freedom.

What began as an emotional impulse gradually turned into a clear mission: to create a company where advertising is more than just a product—it’s a way to connect with people. This people-first, value-driven approach became the foundation of Promo House.

“Our concept is built around people—those we work with and those we create for. The most important part of our work is sincerity and a strong sense of responsibility. We love what we do, and that passion is shared across the team. This dedication, mutual respect, and energy is what sets Promo House apart. For us, advertising is not just a service—it’s a relationship,” says Natuka Popkhadze, co-founder of Promo House.

The journey hasn’t been without challenges. Limited resources, team sustainability, and development hurdles were some of the obstacles Promo House faced. But the team consistently approached problems as opportunities, leaning on collaboration and resilience to move forward.

TBC’s support played a key role in this progress. According to the founders, their partnership with the bank was vital during several crucial growth phases. The financial stability, motivation, and trust fostered through this collaboration empowered Promo House to pursue its goals with greater confidence.

“TBC’s support proved essential during some of the most important stages of our development. Having a strong partner like them gives us the stability and motivation we need—especially when building something meaningful,” Popkhadze adds.

Looking ahead, Promo House plans to expand into new directions and strengthen its partnerships with international brands.

Inflation Outlook 2025: Signs of Rising Pressure Despite Structural Stability

Annual inflation in Georgia has surpassed the 3% target for the second consecutive month, reaching 3.4% in April. Although our 2024 baseline scenario anticipated slightly above-target inflation for 2025, recent developments point to growing inflationary pressures. Notably, seasonally adjusted and annualized monthly inflation over the past six months is significantly higher than in previous periods. Moreover, the lingering effects of one-off price changes are still weighing on annual figures. We expect inflation to rise slightly over the year, reaching around 4% by December.

In the first four months of 2025, average inflation stood at 2.8%, compared to 1.1% during the same period in 2024. Part of this acceleration is due to the low base effect from last year. The sharpest increases have been observed in mixed product categories, while inflation in imported goods has declined. However, prices for domestically produced goods have been exceeding the inflation target for the past three months. The March–April increase in bread prices contributed to this trend, though even without it, domestic inflation would have remained above target. Domestic price trends are especially relevant as they are more rigid and better reflect underlying market dynamics.

It is important to note that domestic production also heavily relies on imported inputs. Therefore, service-sector inflation offers a clearer view of inflation expectations and long-term trends, given its lower volatility and smaller import component. Analyzing inflation from this angle reveals that 2025’s headline inflation acceleration is driven entirely by goods, while service inflation has remained stable. However, without the one-time drop in Internet service fees, April’s service inflation would have slightly exceeded the 3% target. Seasonally adjusted data show a mild acceleration in service inflation, consistent with current economic growth and its effect on price levels. Among goods, food prices were the main contributors to inflation.

Food price increases stem from both local and global factors. While most food items are categorized as locally produced, they often include imported inputs. Quantitative analysis shows a strong correlation between global food prices, the GEL exchange rate, and local food prices—especially for specific items. Transmission mechanisms from global markets are particularly evident in fully imported goods like fuel. For example, falling gasoline prices in April reduced annual inflation by 0.2 percentage points. Should global prices remain stable, this deflationary effect could reach 0.5 percentage points or more.

Core inflation indicators have also accelerated over the past six months, although April showed somewhat weaker inflationary pressure. The Producer Price Index (PPI), often a leading indicator of consumer prices, remains elevated as of March.

Internationally, both export and import price indices increased in March. However, global consumer goods prices have been trending downward recently—trends not yet fully reflected in local inflation. Despite the GEL strengthening slightly against the US dollar, currencies of Georgia’s main trading partners have appreciated even more. As a result, the real effective exchange rate of the GEL has depreciated, slightly diverging from its long-term equilibrium level. This poses a risk of increased prices for imported goods.

Two structural issues also warrant attention. First, the labor market is not currently contributing to inflationary pressure. While real wages have risen over the past two to three years, productivity gains have kept unit labor costs stable in real terms. Only a further significant rise in real wages would pose inflationary risks. Second, regional analysis shows that common external factors have been the dominant driver of inflation in Georgia and neighboring countries over the past decade. In Georgia, around 75% of inflation can be attributed to these shared regional influences.

See the full version of the publication here: TBC Capital Macro Update – Georgia

TBC Capital Supports MBC in Landmark Bond Placement Involving Georgian Pension Fund

Microbank “MBC”, with the support of TBC Capital, successfully placed GEL 21.3 million worth of 2-year bonds under the framework of the “Enterprise Georgia” Capital Market Support Program. This issuance marks the first tranche of MBC’s GEL 60 million bond program. The funds raised will be used to refinance existing financial obligations and expand MBC’s loan portfolio.

The bonds carry an interest rate of TIBR 3M + 4.0%, representing a 0.25 percentage point improvement compared to MBC’s previous issuance. Notably, the Pension Fund of Georgia participated in the placement—its first-ever investment in microbank securities.

“We attach special importance to the Pension Fund’s involvement. This marks the first time a Georgian microbank has received such support, highlighting MBC’s financial stability and growth potential,” said Gia Petriashvili, General Director of MBC.

“This successful issuance, with improved terms and a broader investor base, reflects our close cooperation with MBC. TBC Capital remains committed to supporting the development of Georgia’s local bond market—we’ve helped place nearly GEL 100 million worth of securities since the start of 2025,” noted Otar Sharikadze, Director of TBC Capital.

According to Mikheil Khidureli, Director of the agency “Enterprise Georgia”, the capital market support program has generated significant interest since its launch in April 2024. To date, 20 applications from 16 companies have been submitted, with 8 bond issuances by 6 companies receiving support—bringing GEL 241 million of new investment into Georgia’s capital market. MBC is the first microbank to benefit from this initiative.

“This marks our ninth local corporate bond investment, and our first in a microbank. Participating in this program aligns with our mission to support Georgia’s long-term financial development and generate stable returns for our beneficiaries,” said Ana Nachkebia, Acting Chief Investment Officer of the Pension Fund of Georgia.

Founded as Georgia’s first licensed microbank, MBC focuses on financing micro, small, and medium-sized enterprises (MSMEs). The company operates through 17 service centers in 8 regions, offering a broad range of credit services. MBC holds a B+ rating with a stable outlook from leading European agency Scope Ratings.

330 Students Embark on a Journey of Innovation at TBC Campus

TBC Campus has launched its Spring Stream with 330 students from across Georgia beginning a unique and future-focused educational journey. This distinctive program is designed to fuel the curiosity, drive, and ambition of young people committed to lifelong learning and personal growth.

Selected through a competitive two-stage application process, students will participate in the three-month program entirely free of charge. The curriculum includes a diverse range of in-demand fields such as entrepreneurship and business planning, fundamentals of technology project management, data analysis, UI/UX design, IT business analysis and market research, digital marketing, content creation, and search engine optimization (SEO).

Through hands-on learning and practical knowledge, TBC Campus equips students to thrive in today’s competitive job market and confidently launch their own ventures. The program is run in partnership with Kolab, further strengthening its ties to innovation and real-world relevance.

TBC remains committed to making quality education accessible to all young people in Georgia. The program offers both on-campus and online learning formats, ensuring that students can participate regardless of location.

At TBC Campus, students are encouraged to believe in their goals, explore their passions, and embrace innovation. With the right tools, mindset, and opportunities, everything is possible—wherever you are.

Award-Winning Service: Entebi Recognized by TBC for Outstanding Customer Experience

For over a decade, Entebi has been a trusted leader in providing modern accounting and tax services to businesses across the country. In recognition of its excellence, Entebi was recently honored with the “Outstanding Customer Experience” award at the country’s largest business awards event, organized by TBC. Among hundreds of participating companies, Entebi was selected by the jury as the standout winner.

Entebi supports the daily accounting operations of more than 700 client companies, ensuring accuracy, compliance, and full-service support. In 2025, the company launched a unique new offering: “Bookkeeping”—a hybrid service that allows businesses to retain their in-house chief accountant while benefiting from the support of an experienced assistant provided by Entebi.

Through this service, Entebi takes over the execution of all accounting procedures, allowing the company’s chief accountant to focus solely on data analysis and tax declarations. This dramatically reduces workload and eliminates routine tasks, often referred to as “black work.” All accounting processes are conducted under strict quality control mechanisms, minimizing the risk of errors. The chief accountant retains oversight via digital tools and can monitor all operations in real time.

Businesses seeking to streamline their accounting and reduce tax-related risks can rely on Entebi’s team of over 100 accountants and tax experts. In the event of a tax audit, Entebi represents the client company before tax authorities and manages the inspection process on their behalf.

What’s more, Entebi’s services are backed by a leading insurance provider, meaning that any tax fines or penalties resulting from their accounting errors are fully covered—providing clients with unmatched peace of mind.

Entebi stands out not only for its technical excellence but also for creating a positive, client-centered atmosphere—delivering both comfort and the highest level of professional protection.

Contact Entebi
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📞 Phone: +995 32 212 22 12
🌐 Website: www.ants.ge

TBC Honored with Two EBRD Awards for Excellence in Trade and Green Finance

At its annual meeting in London, the European Bank for Reconstruction and Development (EBRD) presented TBC with two prestigious awards under its Trade Facilitation Programme (TFP).

Once again, TBC was named the Most Active Issuing Bank in Georgia, in recognition of the highest number of transactions carried out under the EBRD’s Trade Finance Facility. This accolade reaffirms TBC’s leadership in the trade finance sector, where the bank commands over 48% market share and holds a portfolio of GEL 2.8 billion.

TBC’s trade finance services support over 2,200 businesses—including large corporations, SMEs, and international companies—by offering streamlined processes, expert consultation, and competitive financing terms.

In addition to this recognition, TBC also received the Best Green Trade Deal of the Year award—its first global win in this category. The EBRD acknowledged TBC for its role in advancing the green economy and financing renewable energy projects that contribute to environmental sustainability.

These honors underscore TBC’s strategic focus on sustainable economic development. In response to growing climate challenges, the bank actively integrates environmental, social, and governance (ESG) principles into its financing decisions and internal policies, aiming to mitigate the impact of global warming.

TBC Agribusiness Success Story: “Charebula” Apple Orchards Thrive in Kartli

In Georgia’s Gori district, nestled between both banks of the Charebula River, a thriving intensive apple orchard spans 12 hectares, home to 25,000 apple trees. Appropriately named after the river that nourishes it, “Charebula” is the result of years of dedication, expertise, and hard work by Giorgi Abesadze and Tengiz Khabazishvili.

The journey began in 2020 with the planting of 8,000 seedlings across 4 hectares. Over the following years, the orchard expanded by another 4 hectares, and in 2024, the company acquired a new plot, planting an additional 20,000 seedlings. Today, “Charebula” manages 24 hectares of apple orchards. As you read this blog, new seedlings—loaded in Italy—are on their way to Kartli.

Intensive orchards offer several advantages over traditional methods. They allow for higher density—up to 3,000 trees per hectare, compared to just 150–200 in conventional orchards. They also bear fruit earlier, are more disease-resistant, yield more produce, and simplify the harvesting process.

“In my opinion, the newer varieties taste better, though 30% of orchards in Kartli still grow ‘Golden.’ This variety is in high demand both locally and for export,” explains Tengiz. “In general, there’s no such thing as an expensive apple—pricing depends on quality and season. For instance, Golden apples that sold for 1.5 GEL in October rose to 3.5 GEL after cold storage. If your quality is high, you won’t have trouble finding buyers.”

Quality is the guiding principle at “Charebula,” and step by step, the company is growing. One of the major drivers behind this growth has been the support from TBC’s preferential agrocredit program.

“Before TBC’s support, we didn’t dare to take on large-scale projects or make bold plans,” they recall. “Our first loan was small—we wanted to test the waters. It paid off, and our partnership with the bank became so smooth that it helped us enter a new phase of development. Thanks to TBC, we were able to buy new land and even build a 400-ton cold storage facility.”

The orchard employs four permanent workers, with seasonal staff increasing to 25 during harvest. The farm currently yields around 1,000 tons of apples annually. Looking ahead, the company plans to set up on-site production of packaging and storage materials—another step toward a more sustainable and self-sufficient agribusiness model.

TBC Leasing Secures €11 Million from EBRD to Boost Green and SME Financing

On May 13, in London, TBC Leasing and the European Bank for Reconstruction and Development (EBRD) signed a financing agreement under which Georgia’s largest leasing company will receive €11 million in funding.

This transaction marks another step in the long-standing and successful partnership between the two institutions. It underscores their shared commitment to supporting the growth of Georgian businesses—particularly small and medium-sized enterprises (SMEs).

Notably, 50% of the financing will be allocated to green investments, enabling Georgian companies to benefit from specialized leasing products focused on renewable energy and sustainability-oriented assets. Through this initiative, more local businesses will gain access to global trends in sustainable solutions and receive the financial support necessary for expansion.

“We are pleased to deepen our long-standing cooperation with a reliable partner such as the European Bank for Reconstruction and Development, as reaffirmed by this agreement,” said Gaioz Gogua, Director of TBC Leasing. “Our joint efforts are focused on strengthening Georgia’s SME sector, particularly through sustainable development and improved access to green financing. The €11 million in funding will be used to support SMEs in this rapidly evolving market.”

Believe in Success: TBC Business Awards 2025 Launches with New Opportunities

The TBC Business Awards 2025 has officially begun. Now in its ninth year, the project continues to promote entrepreneurship in the country, support the growth of the business community, and share inspiring business success stories with the public.

This year’s awards come with exciting new developments, including updated nomination categories. Businesses can now apply in one of the following five categories:

1. Best Product
2. Best Innovative Startup
3. Outstanding Social Responsibility
4. Outstanding Role in the Region
5. Best Freelancer

Winners in each category will have the opportunity to choose one of three tailored prizes that best suits their business needs:

• A brand-new website
• Branding services
• Communication support

An independent jury, composed of industry experts and business leaders, will evaluate the submissions. The winners will be announced at a special closing ceremony in July.

For more information about the project and to register in your preferred category, visit the official Business Awards 2025 website.

This year’s main partner is Visa, with Adjara Group as a supporting partner. Media partners include Marketer.ge, BMG, On.ge, and Entrepreneur Georgia.

ZEG International Storytelling Festival

There is less than a month left until the start of the ZEG Storytelling Festival. The organizers and supporters of the event held a press conference, where they talked about the goals of the festival, program details and speakers.

The ZEG International Storytelling Festival is returning for the fifth time with the support of TBC Concept and will be held again in Tbilisi on June 13-15. The event will last for three days and will host panel discussions, presentations, master classes, workshops, exhibitions, city tours, film screenings and creative activities on 6 parallel stages.

The festival is diverse in terms of speakers and topics and brings together more than 100 professionals from various fields who will talk about new perspectives on the world, personal stories, politics, economics, gender equality and women’s leadership, painting, philosophy, architecture, media, photography, film or medicine, and share with us outstanding, interesting stories that have happened in the world or in their personal work.

Among the speakers are Nobel laureate economist Joseph Stiglitz; legendary British photographer Plato; Ed Cesar, journalist, writer and author of The New Yorker best-selling book “The Moth and the Mountain” Ed Cesar; leading American pediatrician Seema Gillani, who has worked with victims in Afghanistan, Israel, the Gaza Strip, Sudan and other countries for years; Adam Feiz, writer, producer and director, author of the short films “How Moving” and “River Fork”; Alejandro Aravena, a renowned Chilean architect of innovative and sustainable urban design; this year we will again host the satirist, author of the acclaimed TV series and films “Veep” and “The Death of Stalin” Armando Iannucci; as well as the Ukrainian philosopher Volodymyr Ermolenko and many other interesting speakers.

The word ZEG perfectly describes our mission: to discover and share stories that matter not only today, but also beyond. We believe that telling an interesting story requires breaking down barriers between disciplines, which is why we unite renowned writers, thinkers, filmmakers, journalists, entrepreneurs and artists around ZEG.

To purchase tickets, visit the link.

15% discount when purchasing with a TBC Concept debit card.

Festival organizers: Impact Hub Tbilisi, Coda Story

Festival supporters: TBC Concept, UN Women, European Cultural Foundation, Coca-Cola, Cellfie, BMW, Luminate, Culture of Solidarity Fund, Setanta Sports, Swiss Agency for Development and Cooperation, The Embassy of The Kingdom of The Netherlands in Georgia, Windfor’s, Reckless, AI Accountability Network – Pulitzer Center, Tbilisi Architecture Biennial, IRCT – International Rehabilitation Council of Torture Victims, United Against Torture, Embassy of Sweden in Georgia, Royal Norwegian Embassy in Tbilisi, Embassy of Denmark in Georgia, Adjara Group, Honore, Monkey Shoulder, Aprili Media, AT.ge.

TBC Concept Powers the Seventh Season of the Tsinandali Festival

With the continued support of TBC Concept, the seventh season of the Tsinandali Classical Music Festival will take place from September 4 to 14 in the historic Tsinandali Estate. As in previous years, the festival—featuring the Pan-Caucasian Youth Orchestra—will bring together some of the world’s most acclaimed musicians, celebrated conductors, and distinguished soloists.

The 2025 season will open with a performance by the Pan-Caucasian Youth Orchestra, conducted by the festival’s Artistic Director Gianandrea Noseda, and joined by internationally renowned pianist Behzod Abduraimov, a frequent collaborator of top global orchestras and conductors. The legendary Zubin Mehta will return to Tsinandali to conduct the festival’s grand closing performance on September 14, featuring Mahler’s First Symphony.

This year’s lineup of soloists includes pianists Behzod Abduraimov, Giorgi Gigashvili, Alexandra Dovgani, Julien Quentin, Nikolai Lugansky, András Schiff, and Tsotne Zedginidze; violinists Marc Bouchkov, Michel Guttman, Daniel Lozakovich, and Yemen Saadi; cellists Mischa Maisky, Jing Zhao, and Pablo Ferrández; double bassist Brendan Kane; and violist Sara Ferrández.

Notably, the renowned Jerusalem Quartet will make its debut at the Tsinandali Festival this season, while the beloved Sukhishvili Georgian National Ballet will once again delight audiences with their traditional participation.

Discover the full festival program. What is on – Tsinandlai Festival

Exclusive Offers for TBC Concept Mastercard Holders
From May 15 to 31, TBC Concept Mastercard holders can enjoy up to 25% off on festival ticket sets* and individual tickets during the pre-sale period.
After May 31, a 15% discount will continue to apply to purchases made with TBC Concept Mastercard.

To purchase sets, please contact your Concept Assistant.
To buy individual tickets, visit the official ticket page.Tsinandali Festival 2025 | TKT.GE