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TBC Bank Uzbekistan Gets $25M for Digital Push
TBC Bank Uzbekistan, a leading mobile-only bank in Uzbekistan, has secured $25 million in debt financing from BlueOrchard Finance. According to FinTech Finance, this new funding will support the bank’s expansion of its digital offerings and promote financial inclusion in the country.
The funds will grow TBC UZ’s loan portfolio and broaden access to financial services across Uzbekistan. This is part of the bank’s ongoing efforts to diversify its financial sources, following a previous $10 million credit facility from responsAbility Investments AG.
TBC UZ is a subsidiary of TBC Uzbekistan, a digital financial services group operating in the region. The group includes Payme, a digital payments application, and Payme Nasiya, which offers installment credit solutions. TBC Uzbekistan is part of TBC Bank Group PLC, listed on the London Stock Exchange.
Nika Kurdiani, TBC Group operations CEO in Uzbekistan, expressed his enthusiasm for the new financing, saying it will enable the bank to diversify its funding base further and expand its microlending efforts. Philipp Mueller, CEO of BlueOrchard, added that the investment will help TBC UZ reach more individuals with vital financial services, fostering economic resilience and development in the region.
Previously, TBC UZ had secured a $10 million investment from responsAbility Investments AG, further demonstrating its appeal to international financiers focused on sustainable development in emerging markets.
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