TASHKENT, Uzbekistan, October 16. TBC Bank Uzbekistan (Uzbekistan’s largest mobile-only bank) has secured a new $10 million credit line from Switzerland-based impact asset manager responsAbility Investments AG, the bank told Trend.
This marks the third credit line agreement between the two entities, raising the total funding provided by responsAbility to TBC Uzbekistan to $35 million. The funding will support the growth of TBC Uzbekistan's loan portfolio, aid in diversifying the digital bank's funding sources, and promote financial inclusion in Uzbekistan, the most populous country in Central Asia.
“We are delighted to secure this additional $10 million credit facility from responsAbility Investments AG, bringing our total funding from them to $35 million. This continued partnership underscores the strength of our business model and the growing confidence in Uzbekistan's digital banking sector. As we continue to grow our loan portfolio and diversify our product offering, we remain committed to promoting financial inclusion and empowering individuals and businesses in Uzbekistan through access to world-class digital financial services,” the CEO of TBC Group operations in Uzbekistan Nika Kurdiani said.
TBC Bank Uzbekistan is a subsidiary of London-listed TBC Group, operating via physical and digital channels in Georgia. The bank is also a part of Uzbekistan’s leading digital financial ecosystem, which also contains Payme, a digital payments app for individuals and small businesses, Payme Nasiya (Payme Instalments), an installment credit business, and a fast-growing installment credit business.