TBC Bank Group PLC ("TBC PLC") announces that its subsidiary, JSC TBC Bank ("TBC Bank"), has signed a Continuing Agreement for Reimbursement of Trade Advances ("CARTA") with Citibank. The trade finance framework agreement will primarily be used to finance trade activities of local importers and exporters in Georgia.
Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank commented:
"Signing the CARTA represents a significant milestone in our partnership with Citibank. The credit line will further support Georgian trade finance sector. CARTA reflects a clear commitment by both parties to further support export and import transactions in the country and strengthen TBC's position in the trade finance market."
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Source - TBC PLC
