Uzbekistan’s TBC Mobile Bank secures $38.2M for expansion. #Fintech

Uzbekistan Mobile Bank TBC Raises $38.2M to Expand Its Financial Products | by Alacran Labs AI | Jul, 2024

TBC Bank in Uzbekistan has secured $38.2 million to expand its financial product offerings and enhance its presence in the country. With a focus on digital transformation, the bank offers mobile banking services that allow customers to access various financial products without visiting a physical branch. Additionally, TBC Bank operates Payme, a popular digital payment application, and plans to introduce new features such as credit cards, insurance products, and tailored lending solutions for SMEs. The bank serves 4.8 million registered users and has achieved profitability, with projections to reach a net profit of $75 million by 2025. With strategic investments and a growing user base, TBC Bank is poised to revolutionize the banking experience in Uzbekistan through innovative services and a seamless mobile banking platform. This shift towards digital banking is well-timed for an increasingly connected population in Uzbekistan, offering convenience and efficiency to customers.

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