News Archive
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20.10.2016
Progress Bank's License For Banking Activity Cancelled
20.10.2016

In October of 2016 year, Shareholders of one of our client banks - Progress Bank has decided to cancel licence for banking activities and become non banking service operator institution.

On the basis of mentioned decision, with the order of Vice President of National Bank of Georgia, license for banking activity of Progress Bank has been cancelled and bank started its liquidation process.

As it is know to public, TBC bank has purchased the most of Progress bank’s actives and liabilities in September of 2016 year.