TBC Bank Group Announces 1Q 2025 Unaudited Consolidated Financial Results
1Q 2025 net profit of GEL 319 million, up by 7% YoY, with ROE at 23.2%
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 1Q 2025. The management team will host a conference call at 2.00 PM BST today. To participate in the conference call live video webinar, please register using the following link: https://www.netroadshow.com/events/login?show=2f0bc09b&confId=81087
You will receive access details via email.
Vakhtang Butskhrikidze, CEO of TBC Bank Group commented on the results:
“I am pleased to report a strong start to 2025, which is particularly welcome given the uncertain global backdrop. In 1Q 2025, our operating income increased by 25% year-on-year and amounted to GEL 774 million, while our net profit reached GEL 319 million, up 7% year-on-year, delivering above 23% ROE.
It was a very active quarter in building out our recent pipeline of new product launches. This included excellent growth in the issuance of our new Georgian daily banking product, TBC Card, with new card issuance almost tripling in the first quarter of 2025 compared to the same period last year. Meanwhile, in Uzbekistan, our Salom Card daily banking product and Osmon credit card have both hit the ground running, with over 275,000 cards issued by the end of the first quarter. We have also recently extended our SME digital banking offering to include unsecured loans as we look to develop the huge untapped opportunity within the SME sector in Uzbekistan. As we offer new products and improved customer experience, we in turn continue to see strong customer growth, with digital monthly active users (“MAU”) reaching 7.2 million at the Group level, up by 1.6 million, or 28%, year-on-year. Notably, over one-third of our users engage with our digital platforms on a daily basis, which is an excellent indicator of user loyalty and engagement.
Another important milestone achieved in 1Q 2025 was the creation of the new HoldCo in Uzbekistan, TBC Digital, in which TBC Group owns 80% and our IFI partners 20%. Through this process, we folded our two businesses, TBC UZ and Payme, into a single shareholding structure, enabling us to more effectively unlock synergies and increase shareholder value in Uzbekistan.
I am also delighted to announce that the Board has approved quarterly dividend distributions to enhance shareholder value through more regular returns, enabled by our consistently strong operational performance, good visibility on the business, and diligent capital discipline. As a result, the Board has declared an interim dividend of GEL 1.5 per share for the first quarter.”
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:
- 1Q 2025 Results Report
- 1Q 2025 Results Call Presentation
- 1Q 2025 Results Investor Presentation
- TBC Uzbekistan 1Q 2025 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 38.0% of customer loans and 36.9% of customer deposits as of 31 March 2025, according to data published by the National Bank of Georgia.
TBC Uzbekistan is the leading digital banking ecosystem in Central Asia with 20 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.