MICROCAPITAL BRIEF: ResponsAbility Lends $45m to TBC Bank in Georgia for MSMEs

ResponsAbility Investments, a Swiss for-profit investor in developing countries, recently informed MicroCapital that it has disbursed a five-year loan of USD 45 million to TBC Bank, a Georgian commercial bank formerly known as the Tblisi Business Centre. The facility is intended to “enable TBC Bank to deepen its support to micro-, small and medium enterprises (MSME) in Georgia.” TBC Bank and responsAbility began collaborating in 2015 following TBC Bank’s 2011 acquisition of Bank Constanta, a microfinance institution in Georgia that had been a long-term client of responsAbility.

TBC Bank, which was founded in 1992, reports total assets of GEL 10.8 billion (USD 4.4 billion) and total equity of GEL 1.6 billion (USD 636 million) as of December 2016.

Founded in 2003, responsAbility is a Zurich-based investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and services in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade, and independent media. The firm is 30-percent employee held, with the remaining shares owned by Swiss financial institutions Baumann & Cie, Raiffeisen Schweiz, Swiss Re and Bank Vontobel AG. As of December 2015, responsAbility reported total assets under management of approximately USD 3 billion and had invested in 338 companies.

By Aleks Marceau, Research Associate

Sources and additional information:

Information provided directly to MicroCapital by responsAbility.

ResponsAbility home page:

TBC Bank home page:

MicroCapital on TBC and Symbiotics’ MSME bond platform in Georgia:

MicroCapital on responsAbility and Diaconia FRIF in Bolivia:

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