TBC Bank Group Announces 3Q and 9M 2024 Unaudited Consolidated Financial Results
3Q 2024 profit of GEL 347 million, up by 16% YoY, with ROE at 26.6%
9M 2024 profit of GEL 973 million, up by 15% YoY, with ROE at 26.2%
European Union Market Abuse Regulation EU 596/2014 requires TBC Bank Group PLC to disclose that this announcement contains Inside Information, as defined in that Regulation
TBC Bank Group PLC today publishes its unaudited consolidated financial results for 3Q and 9M 2024. The management team will host a conference call at 2.00 PM GMT today. To participate in the conference call live video webinar, please register using the following link: https://www.netroadshow.com/events/login?show=64f95a9a&confId=72527
You will receive access details via email.
Vakhtang Butskhrikidze, CEO of TBC Bank Group commented on the results:
“I am delighted to announce another very strong quarter for TBC in 3Q 2024. We recorded a net profit of GEL 347 million, up 16% year-on-year, with a return on equity of 26.6%. Notably, the contribution from our digital banking ecosystem in Uzbekistan continues to grow, now representing 15% of the Group’s total operating income and 9% of profit. At the same time, our digital monthly active users (“MAU”) reached 5.9 million at the Group level, up by 30% year-on-year.
We continue to leverage our Group’s deep technological expertise and extensive experience in building best-in-class banking and financial services. I would like to highlight the recent launch of Salom Card, our new flagship daily banking product in Uzbekistan. We believe it will set a new benchmark for daily banking services in the country, offering a range of benefits previously unavailable on the market and an easy-to-use, fully digital interface through the TBC mobile app. We are also in the process of rolling out credit cards and transactional MSME banking in Uzbekistan, both of which will be fully launched by the end of this year.”
Financial highlights
Income statement
Balance sheet
Key ratios
Operational highlights
Customer base
Uzbekistan – key highlights
Additional Information Disclosure
The following materials are disclosed on our Investor Relations website at www.tbcbankgroup.com under Results Center section:
- 3Q and 9M 2024 Results Report
- 3Q and 9M 2024 Results Call Presentation
- TBC Uzbekistan 9M 2024 Update
- Supplementary Data
For further enquiries, please contact:
Director of Investor Relations
Andrew Keeley
Or
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC Bank Group PLC ("TBC PLC")
TBC Bank Group’s mission is to make people’s lives easier by providing digitally-led financial services to retail and corporate customers. TBC Bank Group PLC ("TBC PLC") is a public limited company registered in England and Wales and is the parent company of TBC Bank Georgia and TBC Uzbekistan.
TBC Bank Georgia, together with its subsidiaries, is the leading financial services group in Georgia, with a total market share of 38.7% of customer loans and 38.4% of customer deposits as of 30 September 2024, according to data published by the National Bank of Georgia.
TBC Uzbekistan is the leading digital banking ecosystem in Central Asia with 17 mln unique registered users that includes TBC Bank Uzbekistan, the country’s largest mobile-only bank, Payme, a leading digital payments app for individuals and small businesses, and Payme Nasiya, an instalment credit business.
TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of the FTSE 250 Index. It is also a member of the FTSE4Good Index Series and the MSCI United Kingdom Small Cap Index.