TBC Bank Group Completes Acquisition of OLX Uzbekistan
TBC Bank Group Completes Acquisition of OLX Uzbekistan
Tashkent, Uzbekistan (UzDaily.uz) — TBC Bank Group has completed the acquisition of a controlling stake in OLX Uzbekistan, one of the country's largest online classifieds platforms.
The transaction closed on 24 July 2026 after receiving the required approval from Uzbekistan's Committee for the Development of Competition and Consumer Protection.
The seller was OLX Group, a division of international technology investment company Prosus. Registration of the ownership transfer in Uzbekistan is expected shortly as part of the transaction completion process.
To complete the acquisition, TBC Bank Group established a joint venture with international investment holding company Titan Investments, which raises capital from leading institutional investors, family offices and sovereign wealth funds in the Middle East.
The joint venture acquired a 100% stake in OLX Uzbekistan. TBC Bank Group holds 50% plus one share, while the remaining stake is owned by Titan Investments.
According to the company, OLX Uzbekistan ranks among the country's 10 most visited websites, attracts around 5 million monthly active users and hosts 2 million active listings across goods, services, vehicles and real estate, reaching nearly 17% of Uzbekistan's active internet audience.
Following the completion of the transaction, the platform will continue to operate independently under the OLX Uzbekistan brand.
TBC Uzbekistan plans to integrate financial and payment services into the platform, a move the company expects will increase engagement among individual users and businesses while supporting the platform's further growth.
Nika Kurdiani, Chief Executive Officer of TBC Uzbekistan, described the completion of the deal as an important milestone in the group's strategy to expand and diversify its business by integrating scalable and profitable digital assets.
He said the acquisition would enable the group to enter a new fast-growing market segment, attract millions of new users, broaden its range of services and unlock synergies to strengthen customer loyalty. He added that the company intends to preserve OLX's open and independent platform while developing new products and services.
TBC Bank Group said its partnership with Titan Investments combines the two companies' expertise in building and scaling digital platforms. The partnership provides the group with access to expertise in developing online classifieds services while creating opportunities for TBC Uzbekistan to integrate banking products into the OLX Uzbekistan ecosystem and jointly develop new digital solutions.
