OREANDA-NEWS. November 25, 2009. TBC Kredit has summed up financial performance for Jan-Oct 2009.

TBC Kredit reports that by early November its loan portfolio totaled USD 16 million.

“While our loan portfolio of USD 15.97 million the customer base totaled 1,374 people. The following loans dominate in TBC portfolio structure: loans for small and medium-size business 42%, mortgage loans 39%, consumer loans  14% and micro-business loans 5%,” it was reported.

Until late 2007 Shorebank International Ltd (a member of group of companies ShoreBank Corporation, USA) was the only shareholder of TBC Bank, a credit non-bank credit institution (earlier  it was SOA Credit).

In December 2007, Georgia’s TBC Bank acquired a 75% stake in the non-bank credit institution in a way of additional investments of USD 7.5 million.

Thus, TBC Kredit’s charter capital is now USD 10 million.

Now the TBC Kredit shareholders are TBC Bank (75%) and Shorebank (25%). As a result, the organization was re-named as the TBC Kredit in May 2008.