TBC Bank Group PLC TBC launches consumer finance in Uzbekistan

Data : 18/12/2019 @ 10:32
Fonte : UK Regulatory (RNS & others)
Titolo : Tbc Bank Group Plc (TBCG)
Quotazione : 1340.0  4.0 (0.30%) @ 13:14
Quotazione Tbc Bank Grafico

TBC Bank Group PLC TBC launches consumer finance in Uzbekistan


RNS Number : 3035X

TBC Bank Group PLC

18 December 2019

                                     TBC launches consumer finance in Uzbekistan 
            TBC Bank Group PLC has today announced that it has launched a point-of-sale consumer financing 
              trial in Uzbekistan. The Bank is offering customers financing for the purchase of consumer 
              products primarily in the electronics and furniture markets. TBC Bank plans to expand its 
           point-of-sale network to 15 locations by the end of January, with a target of up to 50 locations 
                                                 by the end of 2020. 
              This initiative is in line with TBC Bank's international strategy to expand in the region 
              and marks an important milestone in building the Bank's presence in Uzbekistan. The Uzbek 
             market is highly attractive, with a population of 33 million that is growing at around 2.0% 
              per year, increasing market liberalization and a retail loans to GDP ratio of only 6.0% at 
                                                   the end of 2018. 
                       Vakhtang Butskhrikidze, Chief Executive Officer of TBC Bank, commented: 
            "The launch of consumer finance products in Uzbekistan is another important step in TBC Bank's 
             expansion plans in the country and follows our acquisition of the country's leading payment 
            company, Payme, earlier in the year. Both initiatives are integral parts of our digitally-led 
             growth strategy and will provide us with valuable information about the market prior to the 
                                       launch of our full banking operations." 
                                        For further enquiries, please contact: 
                                Director of International Media and Investor Relations 
                                                    Zoltan Szalai 
                                              Head of Investor Relations 
                                                  Anna Romelashvili 
                                         About TBC Bank Group PLC ("TBC PLC") 
              TBC PLC is a public limited company registered in England and Wales that was incorporated 
            in February 2016. TBC PLC became the parent company of JSC TBC Bank ("TBC Bank") on 10 August 
           2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent 
                                                  of FTSE 250 Index. 
             TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, 
           with a total market share of 38.7% of loans and 39.3% of non-banking deposits as at 30 September 
                          2019, according to data published by the National Bank of Georgia. 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.



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December 18, 2019 04:32 ET (09:32 GMT)

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