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Update on Historic Matters
TBC Bank Group PLC ("TBC PLC") notes today's announcement by the Georgian office of Public Prosecution that it intends to charge the Chairman and Deputy Chairman for matters relating to certain transactions which took place in 2007 and 2008 and which involved TBC PLC's subsidiary TBC Bank JSC.
The Chairman and Deputy Chairman stepped down from the board of TBC Bank JSC earlier this year and, as non-executives, are not involved in day-to-day management of the group. There has been no suggestion of any charges being brought against TBC PLC, TBC Bank JSC or any other member of the group.
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About TBC Bank and 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 premium segment of London Stock Exchange under the symbol TBCG and is a constituent of FTSE 250 Index.
TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.4% of loans and 40.4% of non-banking deposits as at 31 March 2019, according to data published by the National Bank of Georgia.
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