TBC Uzbekistan Celebrates 5 years of Growth and Innovation in Central Asia’s Most Populous Nation

TBC Uzbekistan, the leading digital banking ecosystem in Central Asia and part of London-listed TBC Bank Group, celebrates the five-year anniversary of its launch in Uzbekistan, Central Asia’s most populous nation and one of the world’s fastest growing emerging markets.

TBC Bank Group first entered Uzbekistan in 2019 via the acquisition of a controlling stake in payments app Payme, followed by the launch of digital bank TBC UZ in October 2020. In the five years since, the TBC Uzbekistan ecosystem has continued to expand and now comprises a range of high-growth digital businesses, including TBC UZ, Payme, BNPL service TBC Nasiya, TBC Insurance and retail management platform BILLZ.

Driven by an ambitious, multicultural team of more than 4,100 employees – representing 28 nationalities and working across three hubs in Tashkent, Uzbekistan; Tbilisi, Georgia; and Almaty, Kazakhstan – TBC Uzbekistan has become Central Asia’s leading digital banking ecosystem and a major player in Uzbekistan’s economic growth story.

Nika Kurdiani, CEO of TBC Uzbekistan, commented: “We are proud that in just five years, TBC Uzbekistan has grown from an ambitious startup into the region’s leading digital banking ecosystem. Through technology and innovation that redefine how people interact with financial services, we bring real value to our customers and are trusted by more than half of Uzbekistan’s population. We’ve built a team of professionals united by a shared mission, values and a sense of responsibility towards the society in which we live and grow as a company. Today, our goal is to continue contributing to Uzbekistan’s growth by promoting innovation, supporting social and cultural initiatives, and sharing our experience. We will keep expanding our ecosystem, supporting the community, and shaping the future of digital finance in Uzbekistan.”

Strong Profitable Growth Across Key Metrics

The digital banking powerhouse continues to deliver consistently strong growth across key financial metrics, accompanied by robust profitability. For 2H 2025, revenues rose 95% to reach USD 119 million with net profit up 24% to USD 20 million, powered by 112% and 92% growth in loan and deposit books. 

As of the end of Q2 2025, the ecosystem had 21 million unique users — more than half of the country’s population. Over the five-year period, TBC Uzbekistan has issued 5.6 million cards, while the bank now accounts for 4.1% of all retail deposits in Uzbekistan.

Expanding our Ecosystem

In line with its growth strategy, TBC Uzbekistan continues to broaden its offering via new product launches and strategic M&As, entering new verticals and creating greater synergies within the ecosystem to drive customer loyalty and engagement and increase average revenue per user. 

In late 2024, TBC Uzbekistan introduced TBC Business — the country’s first fully digital platform for SMEs. It offers business account opening, financial management tools, and lending products for the small and medium sized businesses that power the nation’s economic growth. 

In March 2025, the ecosystem launched TBC Insurance, which, as of the end of Q2 2025, has issued more than 145,000 policies, with total premiums exceeding USD 3 million.

In June 2025, TBC acquired a majority stake in BILLZ, the country’s leading retail management SaaS platform. One of the largest deals completed in Uzbekistan over the past three decades, it is set to supercharge the growth of the digital banking ecosystem’s business offering.

Building the AI Bank of the Future 

TBC Uzbekistan has invested over USD 15 million in the development of its own proprietary AI stack, which includes Speech Tech (recognition and synthesis in Uzbek and Russian) and a bilingual, bank-specific LLM. This allowed the company to enhance service efficiency and maintain a high level of customer trust while optimizing operational costs.

AI-driven virtual agents, built on our AI stack, now handle 90% of reminder calls to loan customers and assist sales and customer support teams.