(Alliance News) - TBC Bank Group PLC said Monday its subsidiary JBC TBC Bank has launched banking operations in Uzbekistan, serving that market mainly through TBC's online platform Space, even as its first pilot branch has already opened.
The new operations will start off in a pilot mode for "friends and family", with plans to extend services to the broader population in August.
Tbilisi-based TBC Bank said that for 2020 it will target retail customers with several products, including current and savings accounts, cash and salary backed loans, and point-of-sale consumer finance.
"The launch of banking operations in Uzbekistan is a very significant step in TBC's international expansion and is an integral part of our digitally-led growth strategy. We are excited and full of enthusiasm to make our contribution towards the development of the banking sector in Uzbekistan and to offer cutting-edge banking solutions to the Uzbek population," said Chief Executive Officer Vakhtang Butskhrikidze.
Shares in TBC Bank were down 0.8% at 886.00 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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TBC Bank Group (TBCG)