The FINANCIAL -- TBC Kredit reports that by early December its loan portfolio exceeded $16 million, Fineko/abc.az reported.

“While our loan portfolio is $16.05 million, the customer base totaled 1,184 people. The following loans dominate in TBC portfolio structure: business loans 48% ($7.7 million), mortgage loans 38% ($6 million) and consumer loans 14% ($2.3 million), it was reported.

Until late 2007 Shorebank International Ltd (a member of group of companies ShoreBank Corporation, USA) was the only shareholder of TBC Bank , a credit non-bank credit institution (earlier  it was SOA Credit).

In December 2007, Georgia’s TBC Bank acquired a 75% stake in the non-bank credit institution in a way of additional investments of $7.5 million.

Thus, TBC Kredit’s charter capital is now $10 million.

Now the TBC Kredit shareholders are TBC Bank (75%) and Shorebank (25%). As a result, the organization was re-named as the TBC Kredit in May 2008.

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