TBC Uzbekistan, the largest digital banking ecosystem in Central Asia, has rolled out a new lending product for small and medium-sized enterprises (SMEs) and individual entrepreneurs, aiming to expand access to financing in the region’s biggest market.
The SME loans, offered under the TBC Business platform launched in December 2024, will provide up to 300 million Uzbek Som (about $23,000) with terms of up to three years.
The product will initially be introduced in a limited “Friends & Family” phase, with full deployment planned in the coming months.
“This expansion of our business offering reiterates our commitment to raising the benchmark for financial services in Uzbekistan, as we build the region’s leading digital banking ecosystem,” said Nika Kurdiani, CEO of TBC Uzbekistan. “SMEs are an increasingly key driver of economic growth in Uzbekistan, and we are well positioned to support their further development by allocating significant resources to growing our business offering.”
The digital lending product is designed to simplify access to financing by requiring only minimal customer data and no collateral.
Eligibility and loan amounts will be determined through TBC’s automated assessment, scoring, and underwriting system, leveraging Uzbekistan’s data infrastructure for fast approvals and disbursements.
Customers will be able to apply and receive loan decisions within minutes, the company said.
TBC Uzbekistan expects SME lending to become a significant part of its loan portfolio by 2025, supported by growing demand for digital banking solutions among the country’s youthful and increasingly tech-savvy population.
The product launch comes as TBC continues to broaden its digital banking ecosystem, which now includes 18.4 million registered users.
Alongside TBC Business, the group operates the Osmon credit card, Salom debit card, Payme digital payments app, and Payme Nasiya instalment credit business.
TBC Uzbekistan, part of London-listed TBC Bank Group, reported a net profit of $41 million in 2024, with its loan and deposit books growing 103% and 74% year-on-year, respectively.
Business News Asia