July 29, 2019 / 6:32 AM / a month ago

Georgian bank TBC appoints Nikoloz Enukidze as chairman

July 29 (Reuters) - Georgian lender TBC Bank Group Plc on Monday said it has appointed independent director Nikoloz Enukidze as the company’s chairman with immediate effect, less than a week after its former chief Mamuka Khazaradze stepped down.

Last week, the company said Khazaradze and his deputy Badri Japaridze decided to step down from TBC’s board, a day after prosecutors charged them with money laundering.

The company’s underlying net profit for the first half of the year rose 18.8% to 258.3 million laris ($88.92 million), TBC Bank said on Monday. ($1 = 2.9050 laris) (Reporting by Pushkala Aripaka in Bengaluru, Editing by Sherry Jacob-Phillips)

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