The largest mobile-only bank in the nation, TBC Bank Uzbekistan (TBC UZ), said that it has Secured $25 million in debt Funding from a private debt fund managed by impact investor BlueOrchard Finance Ltd. (BlueOrchard), which is based in Switzerland.
The goal of these monies is to develop TBC UZ’s ecology even more. This will support financial inclusion in Uzbekistan, the most populous nation in Central Asia, and further the loan portfolio expansion of the digital bank.
As the bank seeks to diversify its funding base, this funding comes after the $10 million credit line that TBC UZ obtained from responsAbility Investments AG earlier this year.
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Nika Kurdiani, CEO of TBC Group operations in Uzbekistan, commented: “We are thrilled to secure this significant debt financing from BlueOrchard, which will enable us to further diversify our funding base and expand our microlending efforts, helping enhance financial inclusion across Uzbekistan. We are passionate about providing innovative digital financial solutions that increase convenience and improve lives and feel privileged to have BlueOrchard’s support.”
TBC UZ is a component of TBC Uzbekistan, a prominent digital financial ecosystem in Central Asia, together with payme, an instalment credit company, and payme nasiya, a digital payments app for consumers and small companies. TBC Bank Group PLC, a company listed in London, includes TBC Uzbekistan.
BlueOrchard is a Schroders Group member and a manager of global impact investments. TBC Uzbekistan is a member of the London-listed TBC Bank Group and a digital banking ecosystem in Central Asia. The success of TBC Uzbekistan may be attributed to its customer-focused product strategy, skilled international staff, and purpose-built tech stack.
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Philipp Mueller, CEO of BlueOrchard, said: “We are delighted to partner with TBC Bank Uzbekistan and support its important mission of leveraging modern digital banking to help improve lives and promote financial inclusion in Central Asia. This investment will help TBC UZ reach more individuals with vital financial services, fostering economic resilience and development in the region.”
About TBC Bank Uzbekistan
TBC Bank always offers something new. They create new bank processes in Uzbekistan. Join the huge and collegiate TBC Bank team! The professionals on the team adore their jobs. Every employee cherishes honesty and openness.
