Tbc Bank Group

What Tbc Bank Group does

TBC Bank Group PLC is a dual-platform financial services company incorporated in England and Wales and listed on the London Stock Exchange (LSE: TBCG) as a constituent of the FTSE 250 Index. Founded in Georgia in 1992 with USD 500 of initial capital, the Group today operates through two structurally distinct but complementary businesses: a market-leading universal bank in Georgia (JSC TBC Bank) with 35-40% market share across all key metrics, and a high-growth mobile-only digital financial ecosystem in Uzbekistan (TBC Uzbekistan, held via TBC Digital) built from 2019-2020 onward. As of Q1 2026, the Group employs over 14,000 people, serves 7+ million digital monthly active users, and reports ROE of 23.4%.

The Georgia business delivers retail banking, MSME banking, corporate and investment banking (CIB), wealth management, leasing (TBC Leasing), insurance, and the TNET digital classifieds ecosystem, complemented by the Space digital neo-bank. The Uzbekistan business has scaled rapidly to 24+ million registered users (over half the country's population) through the TBC UZ mobile bank, Payme digital payments app, Payme Nasiya BNPL, TBC Business (digital SME banking with subscription tiers and Digital Payroll), TBC Insurance (digital credit life and personal insurance), Salom debit and Osmon credit cards, plus acquired platforms BILLZ (retail management SaaS serving 4,000+ merchants) and OLX Uzbekistan (online classifieds with 5.4 million MAU).

Revenue is generated through net interest income from lending across both markets, fee and commission income from payments (Payme, card transactions), insurance premiums, leasing, and digital classifieds (TNET), plus subscription revenue from TBC Business. TBC Uzbekistan alone generated USD 252 million in 2025 revenue (+65% YoY), contributing ~20% of Group revenue. The Group monetises AI-driven efficiency in lending (70% of loans disbursed in under 5 minutes), autonomous AI voice agents for collections and sales, and proprietary Uzbek-language LLMs (Lola) that are unique to the region. Distribution combines physical branches and field sales in Georgia with self-serve mobile-first acquisition in Uzbekistan.

Name

Tbc Bank Group

Legal name

TBC Bank Group PLC

Website

https://tbcbankgroup.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

TBC Bank Group is a dual-platform financial services company operating a market-leading universal bank in Georgia (35-40% market share) and a fast-growing mobile-only digital financial ecosystem in Uzbekistan with 24+ million registered users. Listed on the London Stock Exchange as an FTSE 250 constituent, it serves retail, MSME, and corporate customers across both markets.

Ownership category

akta.pro rank

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income: Interest income from lending activities including consumer loans, business loans, deposits, and credit cards across Georgia and Uzbekistan operations.
2. Fee and Commission Income: Fee-generating activities including payments, insurance, leasing, and digital classifieds. Payment processing through Payme and card transactions.
3. Digital Services Revenue: Revenue from digital ecosystem including TNET digital classifieds, insurance products, and SME lending services in Uzbekistan.
4. Insurance Premiums: Revenue from TBC Insurance digital insurance products including credit life insurance and personal insurance products in Uzbekistan.
5. Digital Ecosystem Revenue: TBC Uzbekistan generated revenue of $252 million in 2025, up 65% year-on-year, contributing approximately 20% of total Group revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

TBC Bank Group is a London-listed financial services holding company operating a market-leading universal bank in Georgia (retail, MSME, corporate & investment banking, wealth management, leasing, insurance and the TNET digital classifieds ecosystem) alongside a high-growth mobile-only digital financial ecosystem in Uzbekistan built around TBC Bank Uzbekistan, Payme payments, Payme Nasiya BNPL, TBC Business, TBC Insurance and acquired platforms BILLZ and OLX Uzbekistan. The Group serves retail consumers, SMEs and large corporations across both markets with a combination of physical branches, relationship management and self-serve digital channels.

Product overview

TBC Bank Group operates as a dual-platform financial services company with two complementary business models: TBC Georgia (a market-leading universal bank) and TBC Uzbekistan (a high-growth mobile-only digital financial ecosystem). In Georgia, offerings include retail banking, corporate banking, wealth management, MSME services, leasing, insurance, and TNET classifieds ecosystem. In Uzbekistan, the ecosystem comprises TBC Bank Uzbekistan (mobile-only bank), Payme (digital payments), Payme Nasiya (installment credit/BNPL), TBC Insurance (digital insurance), TBC Business (SME banking and lending), Salom Card (debit), Osmon Credit Card, along with acquired platforms BILLZ (retail SaaS) and OLX Uzbekistan (classifieds). The Group has also developed AI capabilities including Genie (internal AI assistant in Georgia), Lola (AI banking assistant in Uzbekistan), and AI-powered loan issuance tools.

Differentiator

Problem solved

Functional benefit

Brands

• Space: Fully digital neo-bank launched in Georgia in 2018, operating as TBC's digital banking platform
• TNET
• TBC Business
• Salom Card
• Osmon
• Payme Nasiya
• TBC Insurance
• BILLZ
• OLX Uzbekistan
• Genie
• Lola
• TBC UZ

Products and services

• TBC Georgia Retail and Digital Banking Universal banking franchise in Georgia serving retail consumers, SMEs, large corporations and high-net-worth individuals through branches, digital banking app and Space neo-bank; includes accounts, deposits, consumer and business lending, cards, payments and wealth management.
• TBC Bank Uzbekistan (Mobile-Only Digital Bank) Uzbekistan's largest mobile-only digital bank offering deposits, cash loans, debit and credit cards, POS lending and digital insurance to retail consumers and SMEs via the TBC UZ mobile app.
• Payme Digital Payments App Leading digital payments app in Uzbekistan for individuals and small businesses, enabling mobile payments, transfers and merchant transactions across the TBC Uzbekistan ecosystem.
• Payme Nasiya (BNPL / Instalment Credit) Buy Now Pay Later / instalment credit product for consumers in Uzbekistan, part of the TBC Uzbekistan digital ecosystem.
• TBC Business (SME Digital Banking Platform) Uzbekistan's first fully digital business banking service offering SME lending, subscription plans with bulk transfers and unlimited budget payments, payroll processing and free transactions via the MUNIS national clearing system for SMEs.
• TBC Insurance (Digital Insurance) Fully digital insurance provider in Uzbekistan, beginning with credit life insurance and expanding into personal insurance products, fully integrated into the TBC UZ banking app.
• Salom Card (Daily Banking Debit Card) Digital debit card offered by TBC Uzbekistan for daily banking needs, used for instant payroll credits and everyday transactions across the ecosystem.
• Osmon Credit Card Credit card product launched by TBC Uzbekistan as part of its consumer credit card offering within the ecosystem.
• BILLZ Retail Management SaaS Uzbekistan's leading retail management SaaS platform offering POS, inventory, CRM, e-commerce and analytics to 4,000+ retail businesses processing 1.5 million transactions monthly; now part of the TBC Uzbekistan ecosystem.
• OLX Uzbekistan Online Classifieds Leading online classifieds platform in Uzbekistan with 5.4 million monthly active users and 2.2 million active listings, integrated into the TBC Uzbekistan digital ecosystem via a joint venture with Titan Investments.
• TNET Digital Classifieds Ecosystem (Georgia) Fully digital ecosystem in Georgia covering lifestyle, housing and auto classifieds and e-commerce, established in 2022 making TBC the leading classifieds player in Georgia.
• Space Digital Neo-Bank (Georgia) Fully digital neo-bank launched in Georgia in 2018 as TBC's standalone digital banking platform for retail customers.
• Crypto Trading in TBC Georgia App Cryptocurrency trading feature integrated into the TBC Georgia digital banking app via partnership with Bybit, allowing customers to add cryptocurrencies to their investment portfolios.
• Corporate and Investment Banking (CIB) Services Integrated corporate banking, capital markets and investment banking services for large corporations in Georgia, with relationship management focus.
• Wealth Management Services Personalised banking, investment and financial planning solutions for affluent and high-net-worth individuals combining convenience with premium services.
• TBC Leasing Comprehensive leasing solutions for MSME and retail customers in Georgia, part of the Group's fee-generating complementary services.

Quantifiable outcome

• Digital loans share reached 80% in Georgia
• +7 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability9 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and major.

• BybitcoreTechnology or Integration · 20 May 2026Bybit partnered with TBC Georgia to enable cryptocurrency trading in the digital banking app, allowing customers to add cryptocurrencies to their investment portfolios.
• Acclaim (formerly Aiphoria)coreTechnology or Integration · 31 March 2026Acclaim provides enterprise-grade voice-first AI platform for regulated industries including banking. TBC Uzbekistan handles 90% of early-stage delinquency calls and 100,000 monthly sales interactions through Acclaim's AI agents.
• TBC TechcoreStrategic or Co-development Partner · 12 March 2026Payme announced reorganization through spin-off to establish TBC Tech as new legal entity to centralize IT functions and improve efficiency and scalability within TBC Uzbekistan ecosystem.
• OLX UzbekistanmajorStrategic or Co-development Partner · 22 August 2025OLX Uzbekistan, Uzbekistan's leading online classifieds platform with 5.4 million MAU and 2.2 million active listings, being integrated into TBC Uzbekistan ecosystem. Deal valued among most significant M&A in Uzbekistan in past 30 years.
• Prosus/OlX GroupmajorStrategic or Co-development Partner · 21 August 2025TBC acquired majority stake in OLX Uzbekistan from OLX Group (Prosus), Uzbekistan's 6th-most visited website with 5.4 million monthly active users and 2.2 million active listings.
• BILLZcoreStrategic or Co-development Partner · 27 June 2025TBC acquired majority stake in BILLZ, Uzbekistan's leading retail management SaaS platform. BILLZ provides POS, inventory, CRM, e-commerce and analytics to 4,000+ retail businesses processing 1.5 million transactions monthly. Acquisition valued at up to $12 million with post-money valuation of $20 million.
• TBC DigitalcoreStrategic or Co-development Partner · 1 January 2019TBC Digital is the parent company of TBC Uzbekistan ecosystem, jointly owned by TBC PLC (79.7%), EBRD (10.15%), and IFC (10.15%). Oversees TBC Bank Uzbekistan, Payme, and Payme Nasiya operations.

Scale indicators37 records

Recent moves6 records

Expansion highlights8 records

Broad incumbents

• OTP Bank: Hungarian-based universal bank with extensive Central and Eastern European / CIS franchise. Comparable as a multi-country EM banking operator pursuing digital transformation across diverse emerging markets.
• Akbank: Major Turkish universal bank with strong digital banking push (Akbank Direkt). Comparable as an EM universal bank investing heavily in mobile-first customer experience and AI capabilities.
• Komerční banka: Czech universal bank majority-owned by Société Générale; useful comparable for EM European bank valuation, digital penetration rates, and capital return policies in adjacent CEE markets.
• National Bank of Greece: FTSE-listed EM European bank pursuing digital transformation; comparable as a publicly listed universal bank in a non-core Eurozone economy with strong ROE focus.
• Raiffeisen Bank International: Austrian-based universal bank with deep CEE/CIS franchise including Russia exposure. Comparable as a multi-country EM operator navigating regulatory complexity and pursuing digital ecosystem build-out.

Direct peers

• Kaspi.kz: Kazakhstan's flagship super-app combining payments, marketplace, and fintech services with banking via Kaspi Bank. Closest comparable to TBC's Uzbekistan ecosystem given the analogous mobile-first, EM super-app model and Nikoloz Kurdiani's prior MD role at Kaspi Bank.
• Bank of Georgia Group: TBC's principal domestic competitor in Georgia; LSE-listed universal bank with retail, corporate, and CIB franchises. Operates in the exact same Georgian regulatory and macroeconomic environment with overlapping customer segments.

Emerging players

• PayPay (SoftBank/Z Holdings): Japan's dominant mobile payment super-app expanding into adjacent financial services. Comparable as a digital-payments-led ecosystem building toward broader financial services, similar to TBC's Payme-led Uzbekistan expansion.
• Nubank: Latin America's leading mobile-only digital bank with a vertically integrated ecosystem (NuPay, NuInvest, etc.). Highly comparable to TBC Uzbekistan in product-led growth model, low-cost customer acquisition, and embedded ecosystem strategy.

Regional players

• Halyk Bank: Kazakhstan's largest universal bank with growing digital ecosystem (Halyk QR, Halyk Market). Direct regional comparable to TBC's universal-bank-plus-digital-ecosystem strategy in a similarly structured Central Asian economy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tbc-bank-ir

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries10 records

Funding overview

Funding rounds6 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tbc Bank Group