Terabank – the new player in the banking sector
After seventeen years in the banking business, Kor Standard Bank (rebranded as Terabank) is offering banking services in a unique way, in what Tea Lortkipanidze, the bank’s General Director, describes as a “friendly and cozy atmosphere”. The Avlabari branch of Terabank (with its new name, colors and interior) was opened by the shareholders, General Director and the Minister of Economics and Sustainable Development of Georgia.
“The process of rebranding Kor Standard Bank has ended, and today we have the opportunity to host guests in our new financial home,” said Tea Lortkipanidze, the General Director of Terabank. “This is the only bank which offers cozy and warm decor resembling our homes. Everything is aimed at offering the highest quality service in a comfortable environment. We are waiting for clients and are confident we will receive positive feedback.”
At this stage, revamped banks on Pekini Street and Avlabari will begin to serve clients. The interiors of the banks are decorated with a fireplace, soft furniture and pictures on the walls. Terabank has been rebranded in order to provide banking services in a comfortable and familiar atmosphere.
“We saw the highest quality design, which convinces us that clients will be able to receive the highest quality service, which will be reflected positively on the banking sector as a whole,” said Minister Dimitri Kumsishvili.
The main reason for rebranding was precisely taking into consideration the interests of clients. The business strategy of the bank changed completely and the main target audience was defined as the small and medium business. Therefore, in order to provide quality service, it was necessary to make changes in the styles of both communication and the interior design.
The founder and supervising company, the Dabi Group, supported the bank’s rebrand. The major shareholder of Terabank is a sheikh from the United Arab Emirates, Nahyan bin Mubarak Al Nahyan, who has already invested USD 250 million in Georgia and plans on financing further projects in the country.