TBC Bank

          a complete transformation

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Client Profile:

TBC Bank is the second largest privately held bank in the Republic of Georgia with 35 branches and service centers around the country.

 

Case Introduction:

Originally, TBC Bank was known as a corporate bank, but in 2007 the bank's management decided to begin developing a retail business. After the initial and slow attempt to compete in this new market, the bank turned to Senteo for assistance.

 

Project Scope & Goal:

While the initial engagement with TBC Bank started as a branch transformation program, it quickly expanded into a large scale transformation project, involving all five areas of Senteo's methodology. After creating a completely new branch design, Senteo was tasked to refine the retail stratregy,  develop the entire product offering, completely re-engineer the operational processes inside the branches, create all in-store communications, develop a marketing platform, design various brand applications, implement a series of staff training programs aimed at culture development, set out sales plans and a motivation program, establish service standards, redefine roles and responsibilities for the retail staff in the branches, assist in network planning and channel development, and launch several concept branch locations using a completely new branch design, including turn-key construction and fabrication specifications as well as roll-out planning.

 

Results:

Within less then one year, TBC Bank gained a significant market share and maintained an extremely fast pace of growth. From virtually no retail presence, the bank has evolved into a major player in the retail banking market. in Georgia, second only to the Bank of Georgia.

TBC Bank doubled its branch network within a year after the end of the project with Senteo and plans to continue to Senteo’s ultra-modern and multi-purpose retail branch model for further network expansion.

Within the first quarter after the launch, the monthly rate of acquisition of new customers increased by 30%. In fact, the bank doubled its customer base within just six months after the launch of the new product line.

Average wait-time for customers was significantly reduced and average branch throughput capacity more than quadrupled due to enhanced operational efficiency and process re-engineering.
 

Facts & Figures (after the first six months):

  • 100% increase in total customers
  • 30% increase in the monthly rate of acquisition of customers
  • 50% increase in total deposit balances
  • 8 times higher monthly debit card sales
  • 80% increase in monthly credit card sales
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