TBC purchases the controlling stake of Bank Republic
TBC Group and French Societe Generale signed an agreement under which TBC Bank purchases 93.64% of Bank Republic's shares. The purchase of Bank Republic is completely in line with TBC Bank's strategy and creates a great opportunity for synergy, as Bank Republic is a stable financial institution which has established itself among the country's five leading banks.
The transaction will be finalized by the end of 2016. This acquisition makes TBC Bank the #1 Bank in the market in terms of deposits and loans. As a result of acquisition TBC Bank's service network further expands: the number of branches in the country will increase to 170 and the number of ATMs increases to 517.