Mamuka Khazaradze Leaves TBC Bank
The Chairman of the Supervisory Board of TBC Bank, Mamuka Khazaradze is leaving TBC Bank. Khazaradze announced his decision through a statement posted on his official Facebook page earlier today. “I have made the decision to leave TBC Bank where I spent 27 years of my life,” reads the statement.
Khazaradze addressed the public and briefly explained the reasons which catalyzed his decision. He wrote that the Bank has been under attack for the past few weeks, which resulted in huge losses for the shareholders, amounting to $200 million in one month. He also noted that the reputation of the Bank has been put under question.
“Without any investigation or court decision, they seriously stained our reputation by accusing us of money laundering, the non-existence of which has been internationally recognized,” he stated in the post, going on to highlght the manner in which civil servants and government bodies had dragged their feet regarding the case.
Finally, Khazaradze stated that he had decided to leave the bank.
“Accordingly, I made the decision to leave the bank where I spent 27 years of my life, the bank that I turned from $500 into the largest player in the region."
Here is the full transcript of his post:
"Dear friends, my Tbilisi team!
First of all, I want to thank you for your friendship, support and the job we did together for 27 years.
There are stages in life when we have to make important decisions. I have been through such stages and I am at another right now.
I will not repeat what kind of attack our bank is facing. As a result, our international shareholders suffered a loss of $200 million 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 money laundering, the non-existence of which has been internationally recognized.
Unfortunately, none of the state civil servants, nor the PM nor ministers have 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. Instead, I heard their comments only 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 was to be limited in Georgia.
Such an attack on me directly affects our bank's reputation.
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 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 it.
On Tuesday, as I promised Parliament and society, I will attend a hearing of 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.
By Ketevan Kvaratskheliya
Transcript source: IPN
Image source: cbw.ge