Mamuka Khazaradze quits TBC bank, does not sell the TBC Bank share
21 February, 2019
Mamuka Khazaradze quits TBC bank, does not sell the TBC Bank share
I made a decision to leave TBC bank where I spent 27 years of my life - reads a statement posted by Mamuka Khazaradze, chairman of TBC Bank's Supervisory Board, on the social network.

"Dear friends, my TBC team!

First of all, I want to thank you for your friendship, support and the job that we did together for 27 years.
There are stages in life when we have to make important decisions. I have had such stages and I am having
one right now.
Mamuka Khazaradze posted his statement on Facebook

I will not repeat what kind of attack our bank is facing. As a result, our international shareholders suffered a loss of 200 million dollars in one month, so our country has been seriously damaged. Without any investigation or court decision, they seriously stained our reputation by accusing us of alleged money laundering, non-existence of which has been internationally recognized.

Unfortunately, none of the state civil servants, neither PM nor ministers, has expressed a desire to personally meet us and get information about a case that is very important both for our team and our country, despite the fact that I personally wrote to some of them and sent relevant documents to them. Instead, I heard their comments in the public space.

I realized that the goal was to discredit me, I realized that they are fighting against our success, I realized that the company's growth should be limited in Georgia.

Such an attack on me directly affects our bank's reputation.
Mamuka Khazaradze, chairman of TBC Bank's Supervisory Board

The bank cannot be in a long court dispute with its regulator, especially if the latter is not free in its decisions, despite the high degree of independence granted by the law.

Today, the Bank's Supervisory Board took a decision to terminate the legal dispute with the National Bank in the interests of the Bank, its shareholders and depositors.

Accordingly, I made a decision to leave the bank where I spent 27 years of my life, the bank that I turned from 500 dollars into the largest player in the region.

Hopefully, this decision will positively affect the bank’s development in a stable and calm environment. I will dedicate my energy to our country’s very important project - the Anaklia project. Hopefully, I will be allowed to complete the project.

On Tuesday, as I promised the parliament and the society, I will attend a hearing in the parliamentary committee to quietly discuss the case in detail.

At the same time, I will continue to legally defend my rights as a private person in Georgia and abroad", - reads the statement.

However, Mamuka Khazaradze is not going to sell the TBC Bank share, - InterPressNews was told by TBC Bank.

According to the bank, Khazaradze has resigned as the Chairman of the Supervisory Board, but he remains as a shareholder.

According to the statement posted by Mamuka Khazaradze on the social network, the Bank's Supervisory Board decided to terminate a legal dispute with the National Bank due to the interests of the Bank, its shareholders and depositors.

“Accordingly, I made a decision to leave the bank where I spent 27 years of my life, the bank that I turned from 500 dollars into the largest player in the region.

Hopefully, this decision will positively affect the bank’s development in a stable and calm environment. I will dedicate my energy to our country’s very important project - the Anaklia project. Hopefully, I will be allowed to complete the project”, reads the statement.

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