TBC Bank Group Forms New Holding Company in Uzbekistan

TBC Bank ( (GB:TBCG) ) has shared an announcement.

TBC Bank Group PLC has announced the formation of a new holding company, TBC Digital, in Uzbekistan, consolidating its operations in partnership with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). This reorganization aims to streamline governance, enhance synergies, and support the expansion of digital banking services in Uzbekistan. The new structure will see TBC PLC owning 79.7% of TBC Digital, with EBRD and IFC each holding approximately 10.15%. The move is expected to bolster TBC’s growth in the region, focusing on providing innovative financial solutions to retail customers, small and medium-sized businesses, and entrepreneurs, thereby fostering a dynamic financial ecosystem.

More about TBC Bank

TBC Bank Group PLC is a public limited company registered in England and Wales, serving as the parent company of TBC Bank Georgia and TBC Uzbekistan. It is a leading financial services group in Georgia with significant market shares in customer loans and deposits. TBC Uzbekistan is recognized as the leading digital banking ecosystem in Central Asia, featuring a mobile-only bank and a prominent digital payments app. TBC PLC is listed on the London Stock Exchange and is part of the FTSE 250 Index.

YTD Price Performance: 38.62%

Average Trading Volume: 185,421

Technical Sentiment Signal: Sell

Current Market Cap: £2.43B

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