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Arne Berggren: The Board fully supports Vakhtang Butskhrikidze’s recom...

Arne Berggren, Chairman of the Board, commented: “The Board fully supports Vakhtang Butskhrikidze’s recommended organisational changes to ensure the continued strong execution of our strategy in Georgia and to facilitate increased focus on the Group’s ambitions in Uzbekistan and other markets. George Tkhelidze, who has long been identified as a potential internal successor as CEO of the Bank, brings strong leadership experience and a proven track record. He is well positioned to lead our Georgian business."“At this exciting time in TBC’s story, I aim to dedicate my energy to leading the Group’s overall strategic direction. As Group CEO, I will of course remain highly involved in all aspects of our businesses across both Georgia and Uzbekistan, as well as exploring other international opportunities. I am delighted to be succeeded as CEO of our Georgian subsidiary by George. I have worked with George for over a decade. He has done a fantastic job leading CIB and Wealth Management, and I have no doubt he will be a great leader for our Georgian business as a whole going forward. I would also like to thank Tornike for all his work and commitment to the Bank over the past eight years, and I wish him the best of luck in his future endeavours”, - Vakhtang Butskhrikidze, Group CEO said.The Supervisory Board of JSC TBC Bank has approved that the responsibility for the Georgian operations will be assumed by George Tkhelidze, in order to enable the Group CEO, Vakhtang Butskhrikidze, to focus on the Group’s strategic priorities in Georgia, Uzbekistan and internationally. Mr. Tkhelidze is appointed as CEO of JSC TBC Bank with effect from 1 March 2026, or such later date as may be required for the completion of relevant regulatory approvals.There is also another reshuffle at the management, Tornike Gogichaishvili, Deputy CEO and head of MSME and Affluent Banking, will leave the Bank with effect from 1 March 2026.

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NG: The Period of “Love” Between Moscow and Sukhumi Is Over

According to the publication, Moscow justified the move by citing the position of so-called Abkhazian deputies, who reportedly expressed dissatisfaction with “Moscow’s interference in internal affairs.”The newspaper notes that of the approximately 243,000 people living in Abkhazia, 190,000 hold Russian citizenship. Following Moscow’s decision, Abkhazians will now have to travel to Russia to obtain a Russian internal passport. The article states that this decision “cannot be called Russia’s successful policy towards Abkhazia.”Locally, the Kremlin’s decision has been perceived as: “You don’t want Russian passports - keep only Abkhazian passports, which are not recognized by anyone in the world.” Nezavisimaya Gazeta adds that Russia’s presence in Abkhazia is increasingly raising questions among the local population.The so-called Ministry of Internal Affairs in occupied Abkhazia reported that 19,140 applications for Russian driver’s licenses have been submitted, and 18,050 licenses have been issued. From April 1, Abkhazians with Russian citizenship will no longer be allowed to drive vehicles in Russia using Abkhazian driver’s licenses.Following the August 2008 Russian-Georgian war, Russia occupied the Georgian regions of Abkhazia and Tskhinvali, where Kremlin forces continue to maintain control.

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Butskhrikidze to Focus on TBC Group’s International Development, Tkhel...

Key Management Changes:Vakhtang Butskhrikidze:Remains as General Director of TBC Group, with his primary focus on the strategic development of the group in Georgia, Uzbekistan, and other international markets.Giorgi Tkhelidze:Will assume the position of General Director of TBC Bank Georgia, pending regulatory approval. Tkhelidze brings over 25 years of experience in the financial sector. He joined TBC in 2014 as Risk Director and has led the Corporate, Investment, and Wealth Management division since 2016.Tornike Gogichaishvili:Tornike Gogichaishvili, TBC Bank’s Director of Micro, Small, and Medium Enterprises (MSME) and High-Income Services, has resigned after an 8-year successful tenure and will continue his professional activities outside TBC.Giorgi Tkhelidze’s Background and Education:Tkhelidze has extensive experience in the international financial sector: Barclays Investment Bank (UK): Vice President in the Financial Institutions Group for the EMEA region; Local Market: Former General Director of the insurance company Aldag; Education: Holds a Stanford Executive Program (SEP) Certificate, an MBA from London Business School, an LLM from the University of Nottingham, and a Bachelor’s degree in Law from Tbilisi State University. “TBC Group’s goal is to provide the best experience to its customers, both in Georgia and internationally. These structural changes are designed to support the effective implementation of these ambitious objectives,” the bank said in a statement.

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Turkey and Russia Lead as Georgian Tourist Visits Abroad Rise by 4.3%...

Of these trips, 2.2 million were visits abroad, slightly down 0.1% from the previous year.Meanwhile, 1.5 million tourist visits were recorded, representing a 4.3% increase year-on-year. The majority of tourists were aged 31-50 (47%), and women made up 46.4% of all visits.Visiting friends or relatives remained the most common purpose, accounting for 36.1% of trips. The top destinations were Turkey and Russia, with 836,000 and 367,300 visits, respectively.The average length of stay was 6.97 nights, virtually unchanged from 6.98 nights in 2024, and 98.1% of visits were repeat trips.Total expenditures during these visits reached GEL 2.4 billion, a 5.9% increase compared to 2024. The average cost per visit rose 6%, reaching GEL 1,068.6.

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Travel Abroad by Georgians Up 9% in Q4 2025

Of these departures, 600,500 were visits abroad, representing a 6.7% increase year-on-year.During the same period, 405,800 tourist-type visits were recorded, up 8.8% from Q4 2024. The majority of visitors were aged 31-50 (46.9%), and women comprised 46.1% of all visits.The most common purpose for travel was to visit friends or relatives, accounting for 36.9% of visits. The top destinations were Turkey and Armenia, with 236,200 and 90,300 visits, respectively.The average length of stay during these visits was 6.8 nights, down 6% from 7.3 nights in Q4 2024. Notably, 97.9% of visits were repeat trips.Travel expenditures in Q4 2025 totaled GEL 636.4 million, a 17.5% increase year-on-year. The average cost per visit rose 10.1% compared to Q4 2024, reaching GEL 1,059.8.

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Mortgage issuances to non-residents have increased

Mortgages in local currency have become cheaper.According to the National Bank of Georgia's monthly review, the interest rate on mortgage loans issued in the national currency decreased by 0.2 percentage points to 12.1%. There is a decrease compared to last year, last year it was 12.6%.The banks’ mortgage loan portfolio, as of 01.01/2026, is 13.4 billion GEL, of which 9.3 billion GEL was issued in GEL.Lending to non-residents increased in December. The equivalent of up to 40 million GEL was issued in foreign currency; 220 mortgage loans and 55 in GEL, a total of 8 million.

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