TBC Uzbekistan has been ranked as one of the World’s Top Fintech Companies in the neobanking category by CNBC and Statista.

It is the first and only business from Uzbekistan and the wider Central Asia region to receive the accolade.

Nika Kurdiani, CEO of TBC Uzbekistan, part of Georgia’s London-listed TBC Bank Group, said: “We are grateful that the rapid, profitable growth we continue to achieve in the country, while staying committed to innovation, has not gone unnoticed by the international community.

“Uzbekistan is one of the most exciting, high-growth markets for digital financial services globally, and we are proud to be leading the way in consistently raising the bar for innovative financial services in the country. Being recognized by CNBC and Statista stands testament to both TBC’s success in Uzbekistan to date and the country’s overall development – but this is just the beginning, as we continue to diversify our product offering and build out our ecosystem.”

TBC Uzbekistan said the ranking provides an important benchmark for the fintech industry. It is billed as based on an in-depth analysis of key performance indicators (KPIs), including revenue, profitability and other financial metrics, as well as number of customers, loan and deposit portfolio growth, transaction volume, market share and staffing data.

TBC Uzbekistan’s ecosystem reaches 19.7mn users.

TBC UZ is the country’s largest digital bank.

Other operations are digital payments app Payme, instalment credit business Payme Nasiya and TBC Insurance.

In late June, TBC Bank Group, announced that it was acquiring a majority stake in Uzbekistan’s retail tech platform BILLZ in a deal worth up to $12mn.

The transaction will see TBC acquire an initial 53% stake in BILLZ for $9mn, with an option to increase its holding to 60% over the next two years. 

The deal implies a post-money valuation of $20mn for BILLZ, a retail management software as a service (SaaS) platform that supports over 4,000 small and medium sized enterprises (SMEs) and processes more than 1.5mn transactions per month.

Pending regulatory approvals, the deal will represent one of the biggest tech acquisitions in Uzbekistan in decades.

TBC Bank Group is a constituent of the FTSE 250 Index. 

In 1Q25, TBC Uzbekistan posted $57mn in operating income, with loans and deposits rising 116% and 81% y/y, respectively.