Georgia’s TBC Bank enjoys premium listing at London Stock Exchange

Georgia’s TBC Bank is now among the world’s 12 most influential banks listed in the premium segment on the London Stock Exchange (LSE).

Other banks listed in the LSE’s premium segment include Barclays, Lloyds and HSBC.

TBC Bank became the third Georgian company to secure a premium listing on the LSE after it placed 49,159,880 premium shares on the bourse following the completion of a tender offer on August 4.

Georgia’s earlier companies to secure a premium listing on the LSE are Bank of Georgia Holdings (the country’s largest lender and TBC’s main rival) and its healthcare wing Georgia Healthcare Group, which happened in 2012 and 2015 respectfully.

Today the LSE hosted a ceremony that marked TBC’s listing in premium segment, attended by Georgia’s Economy Minister Dimitry Kumsishvili.

Georgia's Economy Minister Dimitry Kumsishvili attended the special ceremony that celebrated TBC Bank's premium listing at London Stock Exchange. Photo by Georgia's Ministry of Economy. 

Today is a very important day as more than 60 percent of Georgia’s banking sector will now trade in the premium segment [of the LSE], which means Georgia’s banking sector is absolutely healthy and transparent,” said Kumsishvili.

TBC first listed on the London Stock Exchange in 2014. Since then the Bank has shown it had top results in corporate management and operated with highest standards, which lead the Bank to be moved to the premium listing.

From now TBC Bank shares will be available to the world’s largest investors.

TBC Bank also planned to be part of the FTSE-250, which is a capitalisation-weighted index consisting of companies ranked 101st to 350th largest that are listed on the LSE.

TBC employs more than 6,200 people and it is currently in the process of merging with Bank Republic. When this is complete it will become the largest bank in Georgia in terms of amount of loans issued and deposits made.