TASHKENT, Uzbekistan, July 11. TBC Bank Uzbekistan has attracted Investments worth $38.2 million from shareholders to leverage its rapid and profitable growth, Trend reports.
According to the bank, the TBC Bank Group PLC (he parent company of TBC Bank Uzbekistan) is investing $23 million. At the same time, the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC, part of the World Bank) are investing $7.6 million each.
The investments will help TBC Bank Uzbekistan maintain dynamic consumer loan issuance and invest in new product launches, including for micro and small businesses, while diversifying its funding base. This is the largest tranche to date, following previous inflows totalling $130 million, highlighting the ongoing commitment of the digital bank’s shareholders.
"This significant investment underscores our strong belief in TBC Bank Uzbekistan's strategic vision, operational excellence and continued profitable growth. We are committed to supporting the bank as it continues to lead the digital banking revolution in Central Asia. The funds will enable TBC Bank Uzbekistan to expedite building out its market-leading digital financial ecosystem in Uzbekistan. This includes maintaining its dynamic loan portfolio growth, launching new products and introducing exciting AI-enabled capabilities to ensure we deliver the best customer experience," CEO of TBC Bank Group PLC Vakhtang Butskhrikidze said.
TBC Bank Uzbekistan is the country’s largest mobile-only bank and part of TBC Group Uzbekistan, Central Asia’s leading digital banking ecosystem.
In addition to TBC UZ mobile-only bank, TBC Group Uzbekistan operations also include Payme (a digital payments app for individuals and small businesses) and Payme Nasiya (Payme Instalments, a fast-growing installment credit business).