Terabank has summarized the portfolio of small and medium businesses and the results of the projects implemented in this direction in 2022. The bank published positive and growing indicators in terms of this strategic segment which was also positively influenced by initiatives supporting small and mediumbusinesses.
Last year, Terabank significantly increased business financing: the credit portfolio increased by 28.4%, and the deposit portfolio – by 61.8%. As for the total number of micro, small and medium business clients, this indicator increased by 32%.
During 2022, Terabank continued to intensively continue its partnership with state funding programs which had a positive effect on the growth of the corresponding credit portfolio. In particular, 18% of the loans issued by the “Produce in Georgia” programs come to Terabank. In cooperation with the Rural Development Agency, Terabank financed a total of 70 businesses, thereby supporting the development of local manufacturing and tourism industries, employment and the growth of the country’s economy.
For Terabank, the year 2022 was particularly distinguished by activities promoting small and medium businesses. One of them was an online business catalog which included 100 Georgian businesses and was posted on Terabank’s website and Facebook page. The catalog served as a kind of guide and introduced Internet users to the products and services of Terabank’s small and medium business customers. With its help, any interested person had the opportunity to view the catalog, contact the manufacturer, purchase the desired product and become a participant in the success of the business.
In 2022, Terabank continued with its successful initiative of holdinginformational meetings with business customers throughout Georgiain order to familiarize them with the bank’s products and services, the programs of “Produce in Georgia” and the Rural Development Agency, preferential loans and other opportunities. In order to share useful information and knowledge, webinars were actively held for business customers. A total of eight webinars were held in 2022 on topics such as digital sales, strategic planning and financing, agribusiness management, labor shortages, renewable energies, etc.
During the last year, Terabank worked actively to raise the awareness of and the promotion of its business customers. The bank presented their activities through mass media and its own digital media channels.
In 2023, supporting small and medium businesses remains an important priority for Terabank. In the process of development of this direction, special attention will be paid to offering agro and startup loan products, the promotion of women and young entrepreneurs and the implementation of supporting initiatives for this part of the community.
