October 18, 2016 / 6:55 AM / a year ago

BRIEF-TBC Bank says to buy 6.36 pct stake in JSC Bank Republic

Oct 18 (Reuters) - TBC Bank Group Plc :

* TBC bank acquires stake in Bank Republic from EBRD

* Agrees to acquire 6.36 pct stake in Jsc Bank Republic from EBRD, for 22 mln gel(7.6 million stg)

* These acquisitions will, once completed, result in acquisition of 100 pct of equity of Bank Republic

* Acquisition of Bank Republic, is highly complementary to TBC’s existing operations

* Creation of largest bank in Georgia by both loans and deposits, TBC Bank’s loan market share up by 7.3 pct to 35.7 pct, deposit market share increasing by 5.3 pct to 34.5 pct

* EPS accretive from 2017

* Integration costs are expected to be approximately 23 mln gel Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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