• ABOUT US
    • History
    • Our Team
    • Advertising
    • Subscription
  • CONTACT US
Georgia Today
No Result
View All Result
  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
No Result
View All Result
Georgia Today
No Result
View All Result

Beyond Banking, Beyond Georgia

by Georgia Today
December 2, 2021
in Business & Economy
Reading Time: 3 mins read
Beyond Banking, Beyond Georgia

Three decades after opening its first branch in Tbilisi, Georgia’s leading financial institution has emerged as an advanced tech-driven company with unparalleled products and services that are placing Georgia on the global innovation map. TBC Bank’s CEO, Vakhtang Butskhrikidze, discusses the bank’s digital transformation and ambitious geographic expansion strategy.  

NOVEMBER 08, 2021

Global Finance: How has TBC Bank been instrumental in supporting Georgia’s economic growth?

Vakhtang Butskhrikidze: TBC Bank Group PLC, listed on the London Stock Exchange, is a technology-driven company with a mission to make people’s lives easier through quality services and products.

Serving around [92%] of Georgia’s adult population, TBC has a significant role in Georgia’s economy. We account for 40% total assets to GDP and 28.2% loans to GDP, and have leading market shares in Georgia’s loans and deposits of 38.1% and 37.8%, respectively.

TBC has dominant positions in our major business lines, comprised of retail, corporate and micro, small and medium enterprises (MSMEs), with a range of financial services, including traditional banking and innovative customer-focused solutions.

To stimulate economic growth, TBC has several large-scale programs supporting entrepreneurs, emerging companies, and established businesses. Our startaperi programme for start-ups covers more than 34,800 registered companies.

With over 8,000 employees in a country with a population of 3.7 million, TBC is also a leading Georgian employer. I am indeed particularly proud of our team and everything it has accomplished throughout the years.  With our deep investment in technology, we are developing Georgia’s tech talent and fostering innovative thinking: up to 10% of our employees are part of our tech teams.

Vakhtang Butskhrikidze, CEO

GF: How is TBC leveraging its digital platform to innovate Georgia’s banking sector and expand internationally?

VB: TBC is continuously transforming and reinventing itself. We now have robust digital platforms with over 95% offloading ratio in retail and MSME, 92% in contactless payments, and 50% in retail internet mobile and mobile banking penetration.

Our long-term strategy is to use our digital platforms to expand geographically, targeting one new country every year.

During 2020, despite pandemic challenges, TBC expanded digital operations outside Georgia, entering new markets in Uzbekistan. Through our highly digitalized, asset-light strategy, TBC UZ now serves customers in Uzbekistan mainly through our online platform, Space. Next generation physical locations across 12 cities are used primarily for client relationship management. Space’s flexible digital platform allows for rapid scale up and customer reach. TBC UZ has grown rapidly, and we expect to reach 1 million users and 700 employees by year end.

In addition, we recently signed a Memorandum with EBRD and IFC in which each institution will acquire a 20% stake in TBC UZ. The goal is to support TBC UZ’s operational growth and promote international corporate governance standards in the sector.

GF: What is TBC’s “beyond banking” mission?

VB: We are committed to making a better future for our communities. TBC is a CSR leader in Georgia with large-scale, high-impact initiatives focused on bringing positive change to society. We are pleased to play a major role in promoting and preserving Georgia’s cultural heritage through partnerships with international organizations and projects that pay tribute to our country’s rich history.

Moreover, ESG is at the heart of our business. We collaborate with partner organizations and international financial institutions to help businesses increase sustainability and adopt environmentally friendly policies.

TBC is always looking to the future.  With our advanced omni-channel platform, geographical digital banking expansion, and initiatives supporting growth and sustainability for business and community, TBC is positioned for continued leadership beyond banking and beyond Georgia.

Source: Global Finance

Tags: Banking
ShareShareTweet

Related Posts

PM: Occupation Regime Will be Held Responsible for all Incidents, Illegal Restrictions & Detentions
News

PM: Our people have to buy commodities with almost 100% mark-up, which is, unacceptable

February 6, 2023
Sector Economy and Economy Policy Committee discusses 2023 action plan
News

Sector Economy and Economy Policy Committee discusses 2023 action plan

February 3, 2023
US State Department: If Russia-Georgia flights resume, companies could become targets of sanctions
International

US State Department: If Russia-Georgia flights resume, companies could become targets of sanctions

February 3, 2023

Recommended

Georgian Foreign Minister Holds Farewell Meeting with French Ambassador to Georgia

Georgian Foreign Minister Holds Farewell Meeting with French Ambassador to Georgia

4 months ago
Natia Mezvrishvili on Dealing with 2 Political Giants

Natia Mezvrishvili on Dealing with 2 Political Giants

10 months ago
Giorgi Gakharia: We were Told We Were Capable of Nothing – It’s All a Lie and Ukraine is a Great Example of This

Giorgi Gakharia: We were Told We Were Capable of Nothing – It’s All a Lie and Ukraine is a Great Example of This

11 months ago
GT Interview with Giorgi Badridze

GT Interview with Giorgi Badridze

11 months ago
Russo-Ukrainian War and Georgia – Analysis from security expert Kakha Kemoklidze

Russo-Ukrainian War and Georgia – Analysis from security expert Kakha Kemoklidze

12 months ago

Navigation

  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
  • International
  • Where.ge
  • Newspaper
  • Magazine
  • GEO
  • OP-ED
  • About Us
    • History
    • Our Team
    • Advertising
    • Subscription
  • Contact

Highlights

Mikheil Saakashvili: I, in fact, received a death sentence

National Movement stops its parliamentary activities

Georgian Ambassador to Turkey: Citizens of Georgia, who went missing, have been located

Tbilisi City Court refuses to postpone Mikheil Saakashvili’s sentence

Georgian citizen dies as result of earthquake in Turkey

Georgian Government to send equipment and rescuers to Turkey for rescue efforts

Trending

No Content Available
  • Where.ge
  • Newspaper
  • GEO
  • Magazine
  • Old Website

2000-2022 © Georgia Today

No Result
View All Result
  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
  • International
  • Where.ge
  • Newspaper
  • Magazine
  • GEO
  • OP-ED
  • About Us
    • History
    • Our Team
    • Advertising
    • Subscription
  • Contact

2000-2022 © Georgia Today