TBC Bank signs trade finance framework agreement with Citibank Unit

Friday 2 August 2019 11:55 CET | News

Georgia-based TBC Bank Group has signed a continuing agreement for the reimbursement of trade advances with Citibank.

Involved in the agreement, from the part of Citibank is the the consumer division of US investment bank Citigroup Inc. The trade finance framework agreement will mainly be used to fund the trade activities of local importers and exporters in Georgia.

According to company representatives, signing the CARTA is a significant milestone in their partnership with Citibank. The credit line will further support Georgian trade finance sector. CARTA reflects a clear commitment by both parties to further support export and import transactions in the country and strengthen TBCs position in the trade finance market.

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Keywords: TBC Bank, Citibank Unit, trade finance, trade finance framework, partnership, Georgia, Citigroup, Citibank, import transactions
Countries: World