2019-02-17
Mamuka Bakhtadze, Prime Minister of Georgia urges everyone to resist political speculations on the TBC Bank. As noted by the Head of Government of Georgia in his response to questions posed by journalists gathered in Munich, National Bank of Georgia (NBG) as a regulator of the commercial banking sector, made a decision and if anyone questions it, thorough arguments should be brought.
"Unfortunately, we once again heard political speculations on the topic. TBC is a system-significant, strong financial institution. Of course, its listing at the London Stock Exchange is a success of our economy and everyone has a very good understanding of this fact. NBG, as a regulator of the commercial banking sector, made a decision and I will naturally keep away from making a contextual assessment of it. However, I know one thing: NBG always acts with high degree of professional standard and it is the position of every international financial institution (IFI). TBC Bank is a strong, system-significant bank and one of the leading financial institutions not only for the financial sector, but for the national economy. Hence, I wish to once again urge everyone to resist political speculations. It is a case that may be viewed through a professional prism and it has nothing to do with politics at all. Regulator took an applicable decision and if anyone questions it, thorough arguments should be brought, rather than politicized assumptions. Current attitudes will not help the case" noted the Prime Minister of Georgia.
In the opinion of the Head of Government of Georgia, another very bad speculation is its linkage with the construction of Anaklia Port.
"I wish to tell everyone that our political team is the initiator of this most important idea and we in the Government of Georgia are actively engaging with every financial institution to timely launch funding of this most significant project with funding solicited from global financial corporations. It is a project of strategic importance for our country and for the region at the same time. We managed to make all the leading financial corporations of the world consider the case of Anaklia Port through our intensive negotiations and it is being scrutinized for funding. Hence, it would be a complete irresponsibility to judge this case with political speculations. Georgia needs a deep sea port and it will most surely to have it" concluded the Prime Minister of Georgia.
Prime Minister's Press Office