TBC acquired OLX. What will change for users?

TBC Acquires OLX: What Will Change for Platform Users?

On July 24, TBC Bank Group completed the acquisition of a controlling stake in OLX Uzbekistan. The purchase was made through a joint venture between TBC and Titan Investments, which acquired 100% of OLX's Uzbek business. TBC owns 50% plus one share in this joint venture.

Following the completion of the transaction, users raised questions about future changes to the platform: whether free classifieds would remain, whether the cost of promotion and other paid services would increase, and whether TBC and Payme products would appear on OLX. Kun.uz sent these questions to TBC.

TBC stated that there are no plans to change OLX's core operating principles at the initial stage. The platform will retain its brand and continue to operate as an independent service.

The company cites the transfer of management to a local team as the main change. TBC believes this will speed up decision-making focused on the Uzbek market and strengthen OLX's product and marketing teams.

For users, this means that no significant changes to the platform's operation are expected immediately following the change in ownership.

However, the issue of service pricing remains open. TBC does not guarantee that current rates will be maintained indefinitely. The company told Kun.uz that OLX rates and commercial terms will be reviewed as the platform is integrated.

"Specific decisions have not yet been made; final terms will be determined later," the company stated in a statement.

At this time, no changes to OLX rates have been announced. TBC notes that commercial terms will be reviewed as the platform is integrated, and users will be notified of any potential changes in advance.

OLX has over 5 million monthly active users and approximately 2 million active listings.

Following the completion of the transaction, TBC announced that it plans to eventually offer financial and payment services through OLX. The company has not yet disclosed which specific products will appear on the platform or when this will occur.

However, the company will not be able to make Payme or TBC Bank mandatory for OLX users. The transaction was preliminarily reviewed by the Committee for Competition Development and Consumer Protection. The regulator approved the acquisition under a number of conditions.

Specifically, the new owner must not force OLX users to pay exclusively through Payme or TBC Bank. Competing payment systems must be given equal access. It is also prohibited to use OLX data to restrict competition or create an unfair advantage for group companies.

Therefore, even after the launch of TBC's financial services, OLX must remain open to other market participants.

The acquisition of OLX continues TBC's series of acquisitions in the Uzbek market.

In 2019, the group entered the Uzbek market by acquiring 51% of the payment service Payme. In May 2023, TBC acquired the remaining 49% and became the sole owner of the company. As part of this transaction, Payme was valued at $113.6 million.

In June 2025, TBC agreed to acquire a controlling stake in BILLZ, a retail automation service. The group initially acquired 53% of the company for $9 million, and the total transaction value, taking into account a further increase in stake, could have reached up to $12 million.

OLX was the next major deal. TBC announced plans to acquire the platform in August 2025 and completed the transaction on July 24, 2026, after receiving regulatory approval. Unlike Payme and BILLZ, the company has not disclosed the price of OLX.

In its response to Kun.uz, TBC explained this by the structure of the deal: OLX was not acquired directly by the bank, but through a joint venture with Titan Investments.

Therefore, the acquisition sequence is as follows:

2019: TBC acquires control of Payme.

2023: Completely acquires Payme.

2025: Acquires control of BILLZ.

2026: Acquires control of OLX through a joint venture with Titan Investments.

At the same time, the group is developing its own products: TBC Bank, Payme Nasiya, TBC Business, and insurance.

Thus, TBC is gradually expanding its business beyond its traditional mobile banking offering. Payme provides the group with a payment service, BILLZ works with retail businesses, and now OLX is adding a large classifieds platform.

TBC itself states that the acquisition of OLX is part of a strategy to develop the digital ecosystem and enter new segments, and not a response to the actions of a specific competitor.

OLX will retain its name and continue to operate separately. There are no plans to change the free classifieds or existing rates immediately after the acquisition. However, the commercial terms may be revised in the future, and TBC has not yet announced what these will be.

Over time, OLX also plans to develop financial and payment services. However, the regulator has prohibited making TBC Bank or Payme products mandatory and has required maintaining a level playing field for other payment companies.

How significant the acquisition will be in practice will become clear once TBC finalizes its new products and platform pricing.