TBC Bank Group
Holding Company of JSC TBC Bank

Press Releases

December 28, 2016

Recovery of Previously Written Off Provision Expense

RNS Number : 8949S
TBC Bank Group PLC
28 December 2016



TBC Bank Group PLC ("TBC PLC") announces that its subsidiary, JSC TBC Bank, has recorded the interest income and recovery of a provision expense of a previously written off amount in relation to a loan issued to one corporate client, in the total amount of USD 13.4 million. This amount will be accounted for in the fourth quarter 2016 consolidated profit and loss statement under the sections “interest income” and “provision for loan impairment” and will increase net profit by USD 13.4 million.


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About TBC Bank Group PLC (“TBC PLC”)
TBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of TBC Bank on 10 August 2016.TBC PLC is listed on the London Stock Exchange under the symbol TBCG.
About TBC Bank
TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 29.7% of loans (37.2% with Bank Republic) and 30.6% of non-banking deposits (35.5% with Bank Republic) as at 30 September 2016, according to the data published by the NBG. 
You can read the full RNS anouncement here