TBC Bank Group PLC Grace period extension (6648N)
21 Mayo 2020 - 09:21AM
UK Regulatory
TIDMTBCG
RNS Number : 6648N
TBC Bank Group PLC
21 May 2020
Grace period extension for vulnerable customers
TBC Bank Group PLC ("TBC PLC") announces that its subsidiary,
JSC TBC Bank ("TBC Bank") has decided to extend the three-month
grace period on loans that was announced in March 2020 for a
further three months to its most vulnerable retail and micro
customers, based on specific qualification criteria. This decision
has been made in close coordination with the Banking Association of
Georgia, the National Bank of Georgia and the Government in order
to support borrowers who have lost their main source of income
during the COVID-19 pandemic.
Starting from 10 June 2020, TBC Bank will offer an additional
three-month grace period to the following customers:
-- Individuals who have lost their main source of income during
the COVID-19 pandemic . These individuals will have received
relevant compensation under a government support program and will
have been recorded in the Revenue Service database. TBC Bank will
offer them a three-month grace period extension on their loans,
with the same conditions as for the initial three-month grace
period granted in March 2020.
-- Individuals who will not have been included in the government
support program by 10 June 2020 and will not have been recorded in
the Revenue Service database, but who are not able to pay the
amounts owed to TBC Bank due to the loss of their main source of
income or a significant decrease in their income . TBC Bank will
analyze the financial position of these customers and, if deemed
appropriate, will grant them an additional three-month grace period
extension on their loans, with the same conditions as for the
initial three-month grace period granted in March 2020.
Vakhtang Butskhrikidze, Chief Executive Officer , TBC Bank,
commented:
"To date Georgia has fought the virus very effectively. TBC team
is mobilized to provide full support to our customers and the
country to recover from the impact that the COVID 19 is having on
the economy. We are actively coordinating with all relevant parties
in order to proactively offer the solutions required. Our digital
support is also very strong, and our customers are able to conduct
all banking transactions online, without any need to visit the
branch. The health and safety of our staff and customers remain our
main priority, and we are confident that together we will get
through these challenging times."
For further enquiries, please contact:
Director of International Media and Investor Relations
Zoltan Szalai
Or
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC Bank Group PLC ("TBC PLC")
TBC PLC is a public limited company registered in England and
Wales that was incorporated in February 2016. TBC PLC became the
parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016. TBC
PLC is listed on the London Stock Exchange under the symbol TBCG
and is a constituent of the FTSE 250 Index .
TBC Bank, together with its subsidiaries, is the leading
universal banking group in Georgia, with a total market share of
39.4% of loans and 39.8% of non-banking deposits as of 31 March
2020, according to data published by the National Bank of
Georgia.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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