National Bank objects discussion of the issue of TBC Bank in Parliament

The National Bank of Georgia objects the discussion of the issue of TBC Bank in the Parliament of Georgia.

The National Bank has released a special statement in this regard, indicating that it is not appropriate to consider supervisory measures related to a specific bank.

"The National Bank of Georgia is the regulator of the banking-financial sector and one of the most important guarantees of the country's financial-economic stability. The National Bank regularly monitors the banks and financial institutions operating in the country and their compliance with the market regulations.

The National Bank acts with maximum transparency. In accordance with the legislation and regulations, the Bank always answers the questions of the legislative body. However, considering the principle of confidentiality of commercial information, we do not consider it appropriate to discuss supervisory measures related to a particular bank. Such discussions can damage representatives of the financial sector.

On February 21, a joint statement of the National Bank and TBC Bank was released, according to which, the issue that was to be discussed by the Parliamentary Committee on Economic Policy has been settled. In addition, TBC Bank withdrew claims against the National Bank and declared that it obeys the requirements set by the National Bank. On the same day, the National Bank published additional details of the case, which fully answered all questions related to the National Bank.

Therefore, considering the specificity of the sector and the responsibility of the National Bank, we consider it unreasonable to discuss supervisory measures taken by the regulator, especially after the subject itself agreed with the above-mentioned measures”, reads the statement.