TBC Uzbekistan presented its financial results for the second quarter of 2026 under IFRS.

TBC Uzbekistan, Central Asia's leading digital banking ecosystem and part of TBC Bank Group, listed on the London Stock Exchange, published its consolidated IFRS financial results for the second quarter and first half of 2026, ended June 30.

In Q2 2026, the number of monthly active users in the TBC Uzbekistan ecosystem reached 5.8 million, demonstrating continuous growth across all business lines.

As of June 30, 1.2 million TBC Salom debit cards and 212,000 TBC Osmon credit cards had been issued, representing year-on-year growth of 129% and 200%, respectively. In Q2, TBC Bank integrated the TBC Osmon card into the Mastercard platform, increasing its availability and ease of use. TBC Salom card accounts account for 5% of TBC Bank's total deposit portfolio, which exceeded 6.5 trillion soums by the end of the reporting period.

Payment volume increased by 45% year-on-year, reaching 38.8 trillion soums, representing over 20% of Uzbekistan's total payment market. The number of active merchants increased by 13% compared to the first quarter, reaching 23,600.

Commission income excluding commission expense increased by 5% year-on-year in the second quarter of 2026, reaching 179.2 billion soums. This growth accelerated, increasing by 15% compared to the previous quarter.

At the end of the first half of the year, the loan portfolio reached 10.48 trillion soums. During the quarter, TBC Bank strengthened its position as a key player in the Uzbek credit card market and continued to scale TBC Business, as well as increase the volume of POS loans and installment plans.

As of June 30, business loans accounted for 19% of TBC Bank's loan portfolio, while POS loans and installment plans accounted for 13%. The share of credit cards increased to 10%.

Both during and after the reporting period, TBC Uzbekistan continued to expand its offerings through new products and strategic transactions.

The ecosystem launched several new products that open up additional opportunities to increase customer engagement and diversify revenue sources.

In May, the ecosystem expanded the TBC Business product line by launching secured lending for SMEs. In July, the company introduced a payroll project within TBC Business.

The company also entered the secured lending market for individuals, launching a digital car loan product. This marks the first step toward creating a separate segment for car owners, which TBC Uzbekistan plans to roll out by the end of the year.

On July 24, TBC Group announced the completion of the acquisition of a controlling stake in OLX Uzbekistan, one of the country's leading online classifieds platforms.

According to TBC Bank's ecosystem, OLX Uzbekistan is among the top 10 most visited websites in Uzbekistan, with over 5 million active users and 2 million active listings.

This transaction marks an important milestone in the company's strategy to diversify its business and expand its ecosystem beyond financial services into new, rapidly growing segments of the digital economy.

The acquisition of OLX Uzbekistan will increase user engagement by offering financial and payment services directly on the platform, while the classifieds platform itself will continue to develop as an independent, open classifieds platform under its own brand.

Following the end of the reporting period, TBC Uzbekistan received high ratings from several reputable international banking ratings, confirming its position as one of the largest digital financial ecosystems in Central Asia.

On July 17, TBC Uzbekistan announced its wins in four categories at the Euromoney Awards for Excellence.

On July 22, TBC Uzbekistan was included in the ranking of the world's largest fintech companies for the second year in a row, according to CNBC and Statista. The company first appeared on this list in 2025, becoming the first representative from Uzbekistan and Central Asia as a whole.

Nika Kurdiani, CEO of TBC Uzbekistan, commented: "TBC Uzbekistan had a successful quarter: we continued to demonstrate sustainable growth across the entire ecosystem and launched new products. After the end of the reporting period, we closed several acquisitions of significant new assets. Our payment solutions demonstrated significant growth: our overall market share exceeded 20%, and our flagship debit product, TBC Salom, more than doubled and remains a key entry point for clients into our ecosystem.

At the same time, we continued to diversify our loan portfolio. Development in the SME segment will gain momentum as TBC Business scales and expands our presence in secured lending. At the same time, we are developing the TBC Osmon credit card line, which is becoming an increasingly prominent part of our portfolio. I would also like to highlight the integration of OLX UZ into the TBC Uzbekistan structure. We are pleased to work together and will continue to improve services for both individuals and businesses in Uzbekistan."

The ecosystem includes:

* TBC Bank

* Payme

* TBC Insurance

* TBC Leasing

* Space

* TBC x OLX

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