TBC Uzbekistan Marks Five Years of Operations

Tashkent, Uzbekistan (UzDaily.com) — In 2019, TBC Bank Group entered the Uzbek market 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, which today includes the installment service TBC Nasiya, the insurance company TBC Sug‘urta, and the retail automation platform BILLZ.

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

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

As of the end of the second quarter of 2025, 21 million unique users—more than half of the country’s population—trust the ecosystem with their finances. Over five years, 5.6 million bank cards have been issued, and TBC Uzbekistan clients have opened 2.3 million deposit accounts totaling US$2.9 billion. Today, TBC Bank holds 4.1% of individual deposits in the country.

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

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

Over five years, Payme has become an integral part of users’ daily lives, allowing payments for bills, transport, tickets, and charitable donations. Today, Payme is the country’s most recognized payment brand: awareness among the younger audience in Uzbekistan has reached 73%, and in Tashkent, the brand ranks first in top-of-mind recognition.

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

Since early 2024, TBC has invested US$15 million in the development of proprietary AI technologies, including speech recognition and synthesis systems in Uzbek and Russian, as well as a specialized bilingual large language model (LLM) for the banking sector. These developments have enabled the company to scale its services without compromising quality while reducing operational costs. Within six months of deployment, AI agents built on these technologies handle up to 90% of client calls for payment reminders and support sales and customer service teams.

Today, TBC Uzbekistan employs over 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, establishing new habits, and creating real value for our users. The trust of more than half the country’s population is the result of our collective efforts, innovation, and responsibility to the society we are part of. We will continue to develop the ecosystem, invest in Uzbekistan, and shape the future of digital finance,” said Nika Kurdiani, CEO of TBC Uzbekistan.

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