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TBC Credit becomes member of Azerbaijan Banks Association

TBC Credit becomes member of Azerbaijan Banks Association

11 June 2009 15:50 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Azerbaijan-based TBC Credit non-bank lending institution (former SOA Credit) has announced that it became a member of Azerbaijan Banks Association.

TBC Credit said the membership is strategically important in terms of the expansion of relations with local and international financial institutions.

Established in Azerbaijan in 1999, SOA Credit changed its name to TBC Credit after being acquired by Georgiaâ€™s TBC Bank in May 2007. The company has started lending loans since 2000.

Georgiaâ€™s TBC Bank took a 75% stake in SOA Credit.
As of January 1, TBC Credit posted its loan portfolio at $18.5 million.

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