TASHKENT, Uzbekistan, December 12. TBC Bank Uzbekistan (TBC UZ, the country’s largest digital bank) launched Osmon Card, its first credit card product, the bank told Trend.
Osmon Card aims to elevate the credit card experience for consumers in Uzbekistan by offering an unmatched range of benefits. These include a rapid approval process, free issuance and delivery, a 55-day interest-free period, and the most competitive APR and minimum payment requirements on the market.
This new revolving credit product will play a crucial role in accelerating the development of TBC Uzbekistan’s digital banking ecosystem. It is designed to enhance customer engagement, boost loyalty, and enable easy access to complementary services. Alongside TBC Uzbekistan, the ecosystem integrates the digital payments app Payme and Payme Nasiya, a rapidly growing installment credit platform.
The launch of Osmon Card reflects TBC's commitment to expanding its product offerings in the country and providing access to world-class digital financial services. This follows the recent introduction of Salom Card, a flagship debit card positioned as the entry point to the entire TBC Uzbekistan ecosystem.
“The launch of Osmon Card is another important step in our quest to make financial services simpler and more enjoyable for our customers. We have the best team in the market, with deep expertise in running a credit business and a focus on profitability, and we continue to scale our operations successfully in Uzbekistan.
The launch of this new product is a step forward in diversifying our offerings, penetrating the market further, and promoting financial inclusion in the country. It comes amidst a productive year where we have secured significant wholesale funding from a wide range of institutions, launched exciting new products, and signed strategic agreements with international partners, highlighting our continued success in Uzbekistan,” the CEO of TBC Group operations in Uzbekistan Nika Kurdiani said.
TBC Uzbekistan has sealed strategic partnerships with Visa and Mastercard and secured a total of $105 million in wholesale funding in 2024. This includes a $40 million loan from FMO (Dutch entrepreneurial development bank), credit lines from Swiss impact investor responsAbility Investments AG totalling $20 million, $25 million debt financing from BlueOrchard, a $10 million loan from EBRD, and a $10 million loan from Global Gender-Smart Fund (GGSF) via Triple Jump.