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Georgia's central bank asks TBC Bank chairman, vice-chairman to exit unit board

Feb 14 (Reuters) - TBC Bank Group Plc said on Thursday that its chairman and vice-chairman have been asked by Georgia’s central bank to step down as board members of its unit, TBC Bank, in connection with an ongoing investigation into certain transactions.

The National Bank of Georgia (NBG) and Georgia’s office of public prosecution, who are leading the investigation into the transactions at the unit between 2008 and 2009, have also asked the top bosses to leave the bank’s supervisory board within two months.

However, Chairman Mamuka Khazaradze and vice-Chairman Badri Japaridze will continue on the board of the parent company. (Reporting by Sangameswaran S in Bengaluru)

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