Listed on the Vienna Multilateral Trading Facility (MTF), these notes reflect strong market interest, indicating continued investor confidence in TBC Bank Group’s strategy and increased appetite for investments in Uzbekistan.
Utilization of Funds
The proceeds from this bond issue are intended to support the expansion of TBC Uzbekistan’s product range. As a digital bank, the organization is continuously diversifying its offerings, particularly by targeting SME banking and lending segments. The additional capital will also drive TBC Uzbekistan’s development in Uzbekistan, where its digital ecosystem shows promising growth potential.
TBC Uzbekistan encompasses three fintech businesses:
– The digital bank TBC UZ
– Payme, a digital payments app for individuals and small businesses
– Payme Nasiya (Payment Instalments), an instalment credit business
In a recent statement, representatives from TBC Bank Group highlighted that the strong demand for these notes signifies positive synergies within the publicly listed group, supporting progress in Uzbekistan. They also noted that TBC Uzbekistan plans to continue expanding and contributing to the overall performance of the Group.
The announcement comes shortly after the launch of TBC Uzbekistan’s new SME lending product, designed to provide fully digital banking services to small businesses in the region.