TASHKENT, Uzbekistan, February 19. The revenue of Uzbekistan's Payme payment service amounted to about 71 million lari ($26.9 million) in 2023, Trend reports.
As per preliminary data from TBC Group, revenue reached 51 million lari ($19.3 million) year-on-year. The revenue growth rate amounted to approximately 39 percent in twelve months.
At the same time, quarterly revenue remained at the same level—17 million lari ($6.4 million)—from the beginning of the year until the end of September. It increased by about 17.6 percent in the last quarter.
Net profit amounted to 45 million lari ($17 million) in 2023, up 35.3 percent year-on-year. However, at the quarterly level, it never surpassed the mark reached in the fourth quarter of 2022 (12.7 million lari, $4.8 million).
In 2020, the Georgian TBC Bank started banking operations in Uzbekistan and opened its first branch in Tashkent.
Today, TBC Group Uzbekistan represents three fintech companies in Uzbekistan: TBC Bank Uzbekistan, TBC Installment, and Payme Payment Service.
TBC Group has fully owned Payme since May 2023. The group's year-end profit in Uzbekistan reached 59 million lari ($22.3 million), or 5.2 percent of its total revenues (1.1 billion lari, or $417.4 million).
