TBC Bank Uzbekistan (TBC UZ), the country's leading mobile-only bank, has secured an additional $10 million credit line from responsAbility Investments AG, a Swiss impact asset manager. This marks the third credit facility between the two organizations, raising the total credit secured from responsAbility to $35 million. The funds will be used to further expand TBC UZ’s loan portfolio, diversify its funding base, and drive financial inclusion in Uzbekistan, the most populous country in Central Asia.
As part of the TBC Uzbekistan digital financial ecosystem, TBC UZ plays a critical role in the country's fintech landscape. The ecosystem also includes Payme, a popular digital payments platform serving individuals and small businesses, and Payme Nasiya, an installment credit service. The entire operation is part of TBC Bank Group PLC, a London-listed financial services group.
The new funding from responsAbility reinforces the bank's commitment to growth and innovation in the digital banking sector. TBC UZ's focus on financial inclusion aligns with responsAbility’s investment goals, which emphasize financial inclusion, climate finance, and sustainable food across emerging markets. With approximately $5 billion in assets under management and investments in 280 portfolio companies across 70 countries, responsAbility is a leader in impact investing.
Nika Kurdiani, CEO of TBC Group’s operations in Uzbekistan, highlighted the importance of this ongoing partnership: “This additional $10 million credit facility from responsAbility is a testament to the strength of our business model and the increasing confidence in Uzbekistan’s digital banking sector. We remain committed to promoting financial inclusion and empowering businesses and individuals in Uzbekistan with world-class digital financial services.”
With this new credit facility, TBC UZ is well-positioned to continue its mission of fostering financial growth and inclusion across the region.
