TBC Bank
A Georgian universal bank providing retail, business, corporate and related financial services.
Last updated August 22, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
TBC Bank is a Georgian banking brand headquartered in Tbilisi. Its origins date to 1992, when Mamuka Khazaradze, Badri Japaridze and other Georgian partners established Tbilisi Business Centre, from which the abbreviation TBC was derived. The institution was created during the early post-Soviet development of Georgia’s banking sector, initially with the minimum capital required for a bank at that time. It received a general banking licence from the National Bank of Georgia on 20 January 1993 and obtained an additional licence for international transactions in May of the same year. The bank expanded from a small early-stage institution into one of Georgia’s principal financial groups. In 1995 it had one branch, 29 employees and total assets of approximately US$1.4 million. Vakhtang Butskhrikidze, who had joined the bank in 1993, became chief executive in 1995 and is identified in the reference material as having continued in that role. The company’s development has combined conventional banking with a broadening portfolio of financial and digital businesses, including retail banking, corporate and small-business finance, leasing, payments, insurance and related investment or intermediary services. TBC’s best-known corporate milestone was its admission to the London Stock Exchange Main Market on 11 June 2014 through Global Depositary Receipts. The offering raised US$239 million and gave the bank an indicated market value of US$640 million at the time. The listing made TBC one of the most visible Georgian companies in international capital markets; the bank is also described as a constituent of the FTSE 250 Index. Its public-market identity is associated with TBC Bank Group PLC, while TBC Bank remains the principal operating banking brand. The group has pursued regional and adjacent-financial expansion. TBC Leasing was established in Georgia in 2004 and remains associated with the bank, with the European Bank for Reconstruction and Development holding the minority interest described in the source material. TBC acquired a majority interest in the Azerbaijani non-bank lender TBC Credit in 2007. TBC Invest was established in 2011 to operate in Israel as an intermediary serving Israeli clients in connection with TBC Bank. The group entered insurance through TBC Insurance, created after the 2016 acquisition of Kopenbur. It later expanded its digital and consumer ecosystem through a banking licence in Uzbekistan, a 51% stake in the Uzbek payments provider Payme, and a majority stake in Georgian e-commerce platform My.GE, all described as occurring in 2019. Digital payments are represented by TBC Pay, which provides online and offline payment services through digital channels and a broad network of self-service terminals. Its described use cases include utility payments, government fees, mobile top-ups, transportation fines and money transfers. Alongside commercial activities, TBC has supported social and cultural initiatives. It established TBC Fund to assist people affected by Georgia’s 2008 war, contributing GEL 5 million and subsequently raising a further GEL 3 million for related programmes. It also co-founded the SABA annual literature award, which has recognised Georgian literary work since 2003. TBC’s history has also included regulatory scrutiny. In 2019 the National Bank of Georgia investigated the legality of certain transactions from 2007 and 2008 and instructed the bank to seek the departure of its chairman and deputy chairman over alleged violations of conflict-of-interest rules. These events became an important governance episode in the company’s public history. The available reference material does not establish a later final outcome in sufficient detail. Overall, TBC is best understood as a Georgian universal-bank brand supported by a wider financial and digital-services group, with domestic banking at its core and regional expansion through payments, lending, insurance, leasing and commerce-related assets.
History
TBC Bank was founded in Georgia in 1992 as Tbilisi Business Centre by Mamuka Khazaradze, Badri Japaridze and other Georgian partners. The name TBC originated as an abbreviation of the institution’s original name and later became the bank’s official name. The bank received a general banking licence from the National Bank of Georgia on 20 January 1993, followed by authorisation to conduct international transactions in May 1993. The institution began on a small scale. By 1995 it operated one branch with 29 employees and had total assets of approximately US$1.4 million. Vakhtang Butskhrikidze joined in 1993 and became chief executive in 1995. Under its subsequent development, TBC grew into a major Georgian banking group with retail, business and corporate services, while also building related businesses in leasing, credit, insurance, payments and digital commerce. In January 2004 TBC established TBC Leasing in Georgia. The bank later acquired 75% of TBC Credit, formerly SOA Kredit, an Azerbaijani non-bank lender serving the micro, small and medium-sized enterprise market. In 2011 it established TBC Invest, a wholly owned subsidiary operating in Israel as an intermediary between Israeli clients and TBC Bank. The group entered insurance in 2016 by acquiring Kopenbur and establishing TBC Insurance. A significant capital-markets turning point came on 11 June 2014, when TBC Bank joined the London Stock Exchange Main Market through a Global Depositary Receipt listing. The offering raised US$239 million and valued the bank at approximately US$640 million on the stated IPO figures. TBC is described as a constituent of the FTSE 250 Index, giving the Georgian institution a substantial international market profile. The group’s regional and digital expansion became particularly visible in 2019. It received a banking licence in Uzbekistan, acquired 51% of Uzbek payment provider Payme and bought a majority stake in Georgian e-commerce platform My.GE. TBC Pay operates as a Georgian payment platform serving individuals and businesses through online, mobile and physical-terminal channels. Its described services include utility bills, government charges, mobile top-ups, transportation fines and other payments. TBC’s public history also includes a 2019 regulatory and governance dispute. The National Bank of Georgia investigated certain transactions from 2007 and 2008 and instructed the bank to ask its chairman and deputy chairman to stand down, citing conflict-of-interest legislation. The supplied reference does not provide enough detail to state the final legal or regulatory resolution. Beyond banking, TBC has supported social and cultural programmes. It created TBC Fund to assist victims of Georgia’s 2008 war, initially contributing GEL 5 million and later raising an additional GEL 3 million. Since 2003, it has also co-founded the SABA literature award, an annual programme intended to recognise notable Georgian literary works. TBC therefore combines a domestic universal-bank franchise with a broader group of regional financial, payments, insurance, leasing and commerce-related activities.
- 2019
Expansion into Uzbekistan and Georgian e-commerce
[1]TBC obtains an Uzbek banking licence, acquires 51% of Payme and takes a majority stake in My.GE.
- 2016
TBC Insurance is established
[1]The group enters insurance after acquiring Kopenbur and creating TBC Insurance.
- 2014
London Stock Exchange listing
[1]TBC Bank lists Global Depositary Receipts on the London Stock Exchange Main Market.
- 2007
TBC acquires a majority stake in TBC Credit
[1]TBC acquires 75% of the Azerbaijani non-bank credit organisation formerly known as SOA Kredit.
- 2004
TBC Leasing is established
[1]The group establishes a Georgian leasing subsidiary.
- 2003
SABA literature award begins
[1]TBC co-founds the annual SABA award for Georgian literature.
- 1995
Vakhtang Butskhrikidze becomes chief executive
[1]Butskhrikidze, who joined the bank in 1993, is appointed CEO.
- 1993
Georgian banking licences granted
[1]The bank receives its general banking licence in January and authorisation for international transactions in May.
- 1992
Tbilisi Business Centre is founded
[1]Mamuka Khazaradze, Badri Japaridze and other Georgian partners establish the institution that later becomes TBC Bank.
Products and positioning
A leading Georgian universal bank positioned around broad domestic banking coverage, digital financial services and an expanding regional financial ecosystem.
Banking
Retail banking
TBC’s retail banking franchise serves individual customers through standard banking products and digital channels. The supplied material identifies retail banking as a core operating area but does not provide a complete product catalogue or detailed pricing information.
Banking
Business and corporate banking
Business and corporate banking is a central part of TBC’s Georgian banking operations. The group also has a history of serving micro, small and medium-sized enterprises through related credit businesses, including its Azerbaijani subsidiary TBC Credit.
Payments
TBC Pay
TBC Pay is a Georgian digital-payment platform for individuals and businesses. It supports online and offline transactions through a website, mobile services and a large network of self-service terminals. Described use cases include utility bills, government fees, mobile top-ups, transportation fines and money transfers.
Leasing · 2004
TBC Leasing
TBC Leasing is a Georgian leasing company established by TBC in 2004. The bank is described as holding an 89.5% equity interest, with the remaining interest held by the European Bank for Reconstruction and Development.
Insurance · 2016
TBC Insurance
TBC Insurance was created after TBC Group acquired Kopenbur in 2016. It represents the group’s expansion into insurance alongside its banking and other financial-services activities.
Controversies
2019
National Bank of Georgia investigation and governance action
The National Bank of Georgia investigated the legality of certain TBC transactions from 2007 and 2008 and instructed the bank to ask its chairman and deputy chairman to stand down over alleged conflict-of-interest violations. The supplied source does not provide a sufficiently detailed final resolution.
Marketing campaigns
- 2008TBC Fund
Georgia
TBC established a social-responsibility fund to help people affected by the 2008 war in Georgia.
Outcome. The bank contributed GEL 5 million and subsequently raised an additional GEL 3 million for the fund’s programmes.
- 2003SABA Literature Award
Georgia
TBC co-founded the annual SABA award to recognise notable Georgian literary works.
Outcome. The award continued as a recurring cultural and literary programme.
Brand decisions
2019
Regional and digital expansionM&ABackground
TBC pursued growth beyond its core Georgian banking franchise through regional financial services and digital commerce.
Action taken
The group obtained a banking licence in Uzbekistan, acquired 51% of Payme and bought a majority stake in My.GE.
Aftermath
These transactions expanded TBC’s presence in Uzbek banking and payments and Georgian e-commerce.
2014
International capital-markets listingStrategyBackground
TBC sought to broaden its international investor base and raise capital through a London listing.
Action taken
The bank listed Global Depositary Receipts on the London Stock Exchange Main Market.
Aftermath
The offering raised US$239 million and gave the bank a stated market value of US$640 million at the time of the IPO.
IPO proceeds and stated market value. US$239 million raised; US$640 million stated market value (11 June 2014 IPO)
Recent events
TBC Bank launches digital banking platform with Capital Banking Solutions[2]
Reported:
TBC Bank went live with Capital Banking Solutions’ open platform in Uzbekistan, in a deployment described as the country’s first digital banking platform.
Sources2 sources
Cite this profile: Cite the canonical profile. /brand-wiki/tbc-bank · Editorial policy · How profiles are compiled