The Banking Association of Georgia will permanently protect the interests of its member banks and will not allow deliberate slanderous campaign against the leading financial institution of the country, - Banking Association of Georgia said in a statement on January 9.

As the Association says such a campaign can damage the reputation of a particular bank as well as the entire banking system, which will negatively impact our country's economic development.

“The banking sector of Georgia is distinguished with high stability and it is the guarantor of economic development of the country. High levels of financial sector transparency, continuous positive assessments of international rating companies and activity in the sector if the international financial institutions / investors demonstrate high levels of credibility.

Incorrect interpretation of recent development around “TBC Bank” and speculations with the high interest of the public can damage the correct perception of the real information and create incorrect expectations regarding the development of the process.

The banking sector is constantly under the monitoring and supervision of local regulators, international auditors, rating companies and investors, which ensures maximum stability and sustainability of TBC Bank as well as the entire banking sector. The Banking Association of Georgia will permanently protect the interests of its member banks and will not allow deliberate slanderous campaign against the leading financial institution of the country,” the statement reads.