TBC Bank Group posted a GEL 346 million ($126 million) net profit in the second quarter (2Q) of 2025, driven by strong top-line growth in Georgia and Uzbekistan The strong performance was driven by a consistently highly profitable showing in Georgia and further dynamic growth of the digital ecosystem in Uzbekistan. The group continues to deliver exceptional value to its shareholders while reinforcing its position as a leading player in the region. In 2Q 2025, operating income reached GEL 835 million ($304 million), marking a 23% year-on-year (YoY) increase. Net profit rose by 5% year-on-year to GEL 346 million ($126 million), with return on equity (ROE) at 24.3%. Gross loans stood at GEL 28.5 billion ($10.5 billion), up by 16% YoY on a constant currency basis, while total customer deposits climbed to GEL 23.3 billion ($8.6 billion), reflecting a 14% increase on the same basis. TBC Georgia continues to be a leading financial services provider in the country on all key metrics. Net profit increased to GEL 332 million ($121 million) in 2Q 2025, up by 3% YoY, with ROE at 23.9%. The gross loans portfolio increased to GEL 26.0 billion ($9.5 billion), up by 11% YOY on a constant currency basis, capturing a total loans market share of 37.8% as of 30 June 2025. Customer deposits rose to GEL 22.0 billion ($8.1 billion), up by 11% on a constant currency basis, with a total deposits market share of 38.1% as of the same date. Retail consumers in Georgia also significantly increased their digital engagement, with the share of consumer loans issued fully digitally rising to 81% at the end of 2Q 2025, up by 13 percentage points YoY. TBC Uzbekistan continues its impressive growth trajectory. The ecosystem now boasts 21 million unique registered users, solidifying its position as the leading digital banking ecosystem in Central Asia and continuing to significantly contribute to the group's overall performance. TBC Uzbekistan operating income increased to GEL 170 million ($62 million) in 2Q 2025, up by 86% YoY, accounting for 20% of the group’s total. Net profit increased to GEL 32 million ($12 million) in 2Q 2025, up by 36% YoY, with ROE at 20.0%. TBC Uzbekistan accounts for 9% of the group’s net profit. It’s gross loan portfolio increased to GEL 2.5 billion ($905 million) as of 30 June 2025, up by 105% YoY. The company continues to grow its market share in Uzbekistan. As of 30 June 2025, its market share in retail loans stood at 5.1%. TBC Uzbekistan now accounts for 54% of the group’s unsecured consumer loans. TBC Uzbekistan deposit portfolio increased to GEL 1.3 billion ($492 million) as of 30 June 2025, up by 86% YoY. TBC Uzbekistan accounted for 13% of TBC Bank Group’s retail deposit portfolio as of 30 June 2025 and has a 4.1% local retail deposit market share. TBC Uzbekistan had 5.7 million digital monthly active users (MAU) and 20.8 million unique registered users as of 30 June 2025 up by 19% and 31% YoY respectively, which makes it one of the largest digital banking ecosystems in Central Asia. Business highlights: “The second quarter was marked by several significant developments in our Uzbekistan business. The popularity of our flagship debit card and daily banking product, Salom Card, has exceeded expectations, reaching over 0.5 million cards issued by the end of June. We also continued to build out our digital ecosystem through the launch of new products and strategic acquisitions. Notably, we completed the rollout of TBC Insurance and agreed to acquire a majority stake in BILLZ, Uzbekistan’s leading SaaS platform for businesses serving the retail sector, which will strengthen our business banking proposition. In addition, after establishing TBC Digital, the holding company overseeing TBC PLC’s operations in Uzbekistan, we enhanced the company’s governance and knowledge pool by appointing a supervisory board chaired by Oliver Hughes and joined by global fintech leaders David Nangle from VEF and Matthew Risley from QED Investors. Redisseminated by The Asian Banker
