IMD Business School Publishes Case on TBC Group’s Rise to Regional Financial Services Powerhouse
TBC Bank Group PLC (“TBC”) announces that the International Institute for Management Development (IMD), a renowned international business school, has published a case study of how TBC has evolved to become a regional financial services powerhouse.
The case study, entitled “TBC Group: Future-Proofing a History of Success”, examines TBC’s impressive rise and will be used by IMD as a teaching material, providing a key template of how to successfully scale a tech-enabled financial services business across emerging markets. The study outlines how TBC charted a path to become the leading financial services player in Georgia, before embarking on its international expansion, quickly establishing a strong retail banking presence in Uzbekistan and becoming Central Asia’s leading digital banking ecosystem.
IMD also details TBC’s international expansion strategy, which is central to driving the Group’s further growth. Having achieved a dominant market position in Georgia, TBC explored opportunities to leverage its expertise and bring best-in-class digital financial services to more populous, high-growth and underserved emerging markets. Uzbekistan was chosen as the first market for overseas expansion, with the Group entering the country in 2019, where it has since built and continues to scale the region’s leading digital banking ecosystem. TBC Uzbekistan consists of three high-growth fintech businesses, with the digital bank reaching profitability just 2 years after launch - a record time for global digital banks. It now boasts 18.4 million unique registered users (nearly half of Uzbekistan’s population), is doubling its loan book year on year and made $41 million in net profit for FY 2024. TBC Uzbekistan is already a material contributor to TBC Group’s results, and its share is set to rise further.
Vakhtang Butskhrikidze, CEO of TBC Bank Group, commented:
"We are thrilled that IMD has taken a keen interest in TBC and that it has produced this comprehensive study of our journey from a local bank in Georgia to an international digital banking powerhouse. It is a privilege for us to play a role in putting businesses in Georgia and Uzbekistan, both often-overlooked markets, on the global agenda. As our journey continues, we remain committed to our strategy of seeking out new opportunities for growth, while delivering sustainable profitable returns for our shareholders. Through TBC's London Stock Exchange listing, we offer the global community a chance to invest in our story, which I hope inspires IMD participants. Meanwhile, we will continue shaping TBC's future, including by starting to explore a new and exciting market."
A summary of the case study can be accessed here.
About IMD
The International Institute for Management Development (IMD) has been a pioneering force in developing leaders for over 75 years. Founded by business for business, IMD is a forward-thinking university institute with Swiss roots and global reach. With campuses in Lausanne, Singapore, a Management Development Hub in Shenzhen, and an Innovation Hub in Cape Town, IMD is the trusted learning partner for ambitious individuals and organizations. Our executive education and degree programs are consistently ranked among the world’s best by the Financial Times, Bloomberg, Forbes, and others. IMD is home to global innovators and pioneering experts producing award-winning research and learning applications. By bridging management practice with academic expertise, we help leaders solve problems, scale solutions, and drive impactful decisions.
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 38.5% of customer loans and 38.1% of customer deposits as of 31 December 2024, according to data published by the National Bank of Georgia.
TBC Uzbekistan is the leading digital banking ecosystem in Central Asia with 18 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.