INTERVIEW-Georgia's TBC Bank targets loan growth after acquisition spree

Вторник, 1 ноября 2016 14:18 MSK
 

* TBC expects annual loan growth of 15-20 pct

* TBC bought SocGen's Georgia business for 337 mln lari

* Expects cost-to-income ratio of below 40 pct

* Deals to knock off 2 percentage points off capital

* Capital position still comfortable - CEO

By Margarita Antidze

TBILISI, Nov 1 (Reuters) - Georgia's TBC Bank, aims to expand its loan book by 15 to 20 percent a year and has sufficient capital to do so even after buying a business from France's Societe Generale, its chief executive said on Tuesday.

TBC became Georgia's largest bank by loans and deposits after buying JSC Bank Republic from SocGen and the European Bank for Reconstruction and Development (EBRD) for 337 million lari ($141 million) in October.

"Taking into consideration that the Georgian economy is expected to grow faster in 2017-18 than this year, we have a substantial potential for growth," TBC's chief executive Vakhtang Butskhrikidze told Reuters.   Продолжение...