TBC Bank Uzbekistan (TBC UZ), the country’s largest digital bank, raised $37 million equity investment from its majority shareholder TBC Bank Group PLC. This capital brings the total new equity funding secured in 2024 to $75 million.
Uzbekistan’s largest digital bank, TBC UZ, is part of TBC Uzbekistan, which also includes Payme digital payments app and Payme Nasiya instalment credit business.
According to Vakhtang Butskhrikidze, CEO of TBC Group:
“TBC Uzbekistan is now contributing 9 per cent of the Group’s net profit and 44 per cent of our unsecured consumer loans portfolio, its role within our Group is pivotal and it is set to increase.”
In 2024, TBC Uzbekistan significantly expanded its presence, reaching 17 million unique registered users as of September 2024. This means that…