TBC Uzbekistan Marks Five Years of Operations

Tashkent, Uzbekistan (UzDaily.com) — TBC Bank Group entered the Uzbek market in 2019 by acquiring a controlling stake in the payment service Payme. With the launch of TBC Bank in October 2020, the TBC Uzbekistan ecosystem began to take shape. Today, this ecosystem includes the TBC Nasiya installment service, the insurance company TBC Sug‘urta, and the retail automation platform BILLZ.

Over the past five years, the company has significantly strengthened its market position, launched a series of innovative solutions, and become one of the leaders in digital banking in Central Asia.

Since entering the market, TBC Uzbekistan has demonstrated steady growth in key financial indicators. The group and its partners have invested over $460 million in the Uzbek economy.

By the end of the second quarter of 2025, the ecosystem served more than 21 million unique users, representing over half of the country’s population. Over five years, TBC customers opened 2.3 million deposit accounts totaling $2.9 billion, and the bank’s share in the retail deposit market reached 4.1%.

Since launching banking operations in October 2020, TBC has issued 5.6 million cards. The bank’s flagship product, the Salom Card debit card, which offers cashback at partner merchants and interest on balances, was introduced in December 2024. By September 2025, the number of issued cards had reached 980,000.

At the end of 2024, the company launched TBC Business, the country’s first fully digital platform for servicing small and medium-sized enterprises. The platform provides online account opening, financial management tools, and lending capabilities.

In 2025, the ecosystem continued to expand. In March, the insurance company TBC Sug‘urta began operations, issuing more than 145,000 policies and collecting over $3 million in premiums during the second quarter. In June, TBC announced the acquisition of a stake in BILLZ, one of Uzbekistan’s largest SaaS startups. This integration strengthened the group’s B2B offerings and complemented its banking solutions with new digital services for businesses.

Over the past five years, Payme has become an integral part of daily life. Through the app, users can pay bills, transport fares, tickets, and make donations. Today, Payme is the most recognizable payment brand in the country: among the younger demographic in Uzbekistan, brand awareness has reached 73%, while in Tashkent, it holds the top-of-mind position.

TBC Uzbekistan also actively pursues corporate social responsibility initiatives, focusing on financial literacy programs, cultural heritage preservation, support for women in entrepreneurship and technology, as well as environmental projects and urban development. The company aims to create an environment where technology, culture, and social programs generate additional value for society.

Since early 2024, TBC has invested $15 million in developing its own AI technologies, including speech recognition and synthesis systems in Uzbek and Russian, as well as a specialized bilingual LLM for the banking sector. This has allowed the company to scale service operations without compromising quality and reduce operational costs. Within six months of launch, AI agents built on these solutions handle up to 90% of client calls with payment reminders and assist sales and support teams.

Today, TBC Uzbekistan employs more than 4,100 staff from 28 countries. Its main offices are located in Tashkent, Tbilisi, and Almaty. The multinational team brings together specialists with international fintech experience. The company consistently invests in professional development, employee well-being, and creating a comfortable work environment.

“We are proud that over five years, TBC Uzbekistan has grown from an ambitious startup into the leading digital ecosystem of Central Asia. Our technologies and products are reshaping the perception of finance, creating new habits, and delivering real value to users. The trust of more than half the country’s population is the result of our joint efforts, innovations, and responsibility to society, of which we are a part. We will continue to expand the ecosystem, invest in Uzbekistan, and shape the future of digital finance,” said Nika Kurdiani, CEO of TBC Uzbekistan.

In just five years, TBC Uzbekistan has transformed from a new entrant into one of the key players in the country’s financial market. By investing in the economy, creating jobs, and introducing innovations, the company has laid a strong foundation for continued growth and continues to contribute to Uzbekistan’s digital transformation and the improvement of millions of users’ quality of life.