23rd Mar 2020 18:37
(Alliance News) - TBC Bank Group PLC on Monday said it has signed a USD50 million loan from the OPEC Fund for International Development.
The two have a long-standing relationship, TBC said. The funds will be used to finance TBC Bank's customers' international trade activities.
Chief Executive Vakhtang Butskhrikidze said: "I am very pleased that over time we have built such a successful partnership with the OPEC Fund. With this new facility, TBC Bank will continue to more actively support local businesses to expand their import and export activities and engage in international markets."
TBC shares ended 12% lower on Monday in London at a price of 635.00 pence each.
By George Collard; [email protected]
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