Tashkent, Uzbekistan (UzDaily.com) —  TBC Bank Group PLC, which manages Georgia’s leading financial group and the largest digital banking ecosystem in Uzbekistan, announced its unaudited consolidated financial results under IFRS for Q3 and the first nine months of 2024.

High performance was driven by robust growth in both the Georgian segment and the expanding digital banking ecosystem in Uzbekistan, where TBC is diversifying its offerings. The Group continues to deliver strong shareholder returns, solidifying its position as a regional leader.

Operating income for Q3 2024 was 754 million lari (US$278 million), up 23% year-over-year.

Net profit reached 347 million lari (US$128 million), a 16% annual increase, with a return on equity (ROE) of 26.6%.

Gross loans grew to 24.8 billion lari (US$9.1 billion), up 22% year-over-year. Deposits totaled 22.5 billion lari (US$8.3 billion), an increase of 20% year-over-year.

TBC Uzbekistan, including the mobile bank TBC Bank Uzbekistan, payment app Payme, and installment financing service Payme Nasiya, continues to demonstrate remarkable growth, with a user base reaching 17 million unique registered users, solidifying its role as a leading digital banking ecosystem in Central Asia.

Operating income rose to 111 million lari (US$41 million) in Q3 2024, marking a 105% increase year-over-year and contributing 15% to the Group’s total income.

Net profit achieved a record 32 million lari (US$12 million), up 131% year-over-year, with an ROE of 28.2%, accounting for 9% of the Group’s net profit.

Gross loan portfolio reached 1.3 billion lari (US$460 million) as of September 30, 2024, a 99% increase year-over-year.

Deposit portfolio expanded to 856 million lari (US$314 million), up 66% year-over-year, representing 10% of the Group’s retail deposits.

With 4.9 million monthly active users (MAU) and 16.9 million unique registered users, TBC Uzbekistan remains one of Central Asia’s largest digital banking ecosystems.

CEO Vakhtang Butskhrikidze remarked, “We continue to leverage our Group’s extensive technological expertise to deliver world-class banking services. Recently, we launched the Salom Card, our flagship daily banking product in Uzbekistan, which we believe will revolutionize banking services in the country. Additionally, we are set to launch credit cards and SME banking by year-end.”