RNS Number: 2144A
TBC PLC (LSE: TBCG) was notified on 22 March 2017 by the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (“FMO”) that it has sold its remaining holding of shares in TBC PLC on 22 March 2017.
Despite exiting its position in the shares, FMO intends to continue its extensive commercial relationship with TBC Bank on the funding side.
isted on the London FMO is the Dutch development bank. As a leading impact investor FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development, and has a 45-year proven track record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 9.8 billion spanning over 85 countries, FMO is one of the larger bilateral private sector developments banks globally. For more information please visit www.fmo.nl.
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 JSC TBC Bank (“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 31.1% of loans (or 38.9% taking into account TBC Bank's holding in JSC Bank Republic and 33.0% of non-banking deposits (or 37.8% taking into account TBC Bank's holding in JSC Bank Republic) as at 31 December 2016, according to the data published by the National Bank of Georgia.
You can read the full RNS announcement here.