# TBC Bank Group launches operations in Uzbekistan

- Link: https://www.directorstalkinterviews.com/tbc-bank-group-launches-operations-in-uzbekistan/412837154
- Published: 2020-06-29T07:35:59+01:00
- Author: Giles Arbor

**TBC Bank Group plc** (LON:TBCG) has announced that its subsidiary, JSCB TBC Bank
has launched its banking operations in Uzbekistan, initially in a pilot mode for“
friends and family”, and plans to extend its services to the broader population 
in August 2020.

In line with our asset-light and highly digitalized strategy, we will be serving
our customers mainly through our online platform, Space, while our smart, next generation
branches will be used primarily for client relationship purposes.  The first pilot
branch has already opened.

This year we will be targeting retail customers with the following products:

o  Current and savings accounts;

o  Cash loans and salary backed loans;

o  Cards, mobile banking, money transfers and transactional capabilities (eg. P2P
transactions, utility payments); and

o  Point-of-sale consumer finance.

> **Vakhtang Butskhrikidze, Chief Executive Officer of TBC PLC, commented:** “The
> launch of banking operations in Uzbekistan is a very significant step in TBC PLC’s
> international expansion and is an integral part of our digitally-led growth strategy.
> We are excited and full of enthusiasm to make our contribution towards the development
> of the banking sector in Uzbekistan and to offer cutting-edge banking solutions
> to the Uzbek population.”

> **Sandro Rtveladze, Chief Executive Officer of TBC Bank in Uzbekistan, commented:**“
> I am delighted to announce the launch of our banking operations in Uzbekistan.
> Since obtaining a banking license in April 2020, we have completed all the remaining
> operational and regulatory milestones, and we are now ready to move into a closed
> Beta testing process, allowing us to serve external customers in a ‘by invitation
> only’ mode. We plan to offer our services to the wider public sometime in August.“

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