TBC Uzbekistan

The Group operates two main businesses in Uzbekistan – TBC Bank, which is a fully digital bank providing retail banking services and Payme, one of the market leaders in digital payments.

During 2023, our businesses in Uzbekistan have transitioned from start-up mode to becoming profitable, high-growth companies offering digital financial services to millions of customers on a daily basis. TBC has now become a widely known and innovative contributor to the development of the nascent financial services market in Uzbekistan, and we are now among the leading retail banks in terms of customer top-of-mind.

1Q 2024 Highlights

4.7 mln 


Monthly active users
(MAU)

+31% YoY growth

    GEL 929 mln        

Retail gross loans
portfolio


+128% YoY growth

GEL 657 mln


Retail deposit portfolio   


+76% YoY growth

GEL 18 mln       

Net profit



+45% YoY growth

TBC Bank in Uzbekistan (TBC UZ) - the first digital bank in the country

TBC UZ is a branchless mobile-only digital retail bank, in which the Group owns a 60% stake and the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) each have 20%. The bank is based on a technology platform developed internally by the TBC Group (Space International) and first rolled out in Georgia, and it offers fully end-to-end digital credit and deposit products.

Payme - a leading payments provider in Uzbekistan

Payme is a wholly owned subsidiary of the group. It is a market leading digital payments solution for retail customers and small businesses, offering a range of services including P2P payments, bill and utility payments, personal financial management (PFM), QR payment acceptance for merchants, government service, currency conversion and other daily financial services.