TBC Bank Uzbekistan Secures $37M Equity Investment, Making 2024 a Record Year
Summary
This new capital will fuel even faster growth and innovation, positioning us to unlock greater value for our customers and investors alike.Reaching a record in equity funding for 2024 is a testament to the transformative progress weve achieved. Our team has achieved remarkable milestones this year and we are excited to continue this momentum into 2025, as we deliver financial services that are simpler, smarter, and more accessible for everyone.In 2024, TBC Uzbekistan significantly expanded its presence, reaching 17 million unique registered users as of September 2024. Most recently, TBC has also launched Osmon Card, its first revolving credit product, aimed at providing greater choice and fueling loyalty among the banks customers.Tapping into an even wider customer base, it also launched TBC Business the countrys first fully digital banking service, catering to the countrys small and medium enterprises (SMEs) and individual entrepreneurs.In 2024, TBC Uzbekistan achieved remarkable progress in harnessing advanced technology and strengthening its infrastructure to deliver a more enriched banking experience for its customers, while also enhancing its efficiency.A standout achievement was the development of its proprietary speech tech stack and the deployment of AI-powered agents to handle payment reminder calls for customers with loans up to 30 days overdue. This innovative use of AI has not only enhanced customer interactions but also significantly boosted operational efficiency, with more AI-driven solutions in the pipeline for 2025.TBC Uzbekistan also achieved a key infrastructural milestone this year with the launch of its own in-house processing centre. In 9M24, the company recorded a net profit of USD 27 million, with its loan and deposit books up 99% and 66% YoY respectively.TBC Bank Groups mission is to make peoples lives easier by providing digitally-led financial services to retail and corporate customers.