The TBC Bank OLX Uzbekistan acquisition marks a bold step in Central Asia’s fintech growth. Based in Tbilisi, Georgia, TBC Bank Group now controls a majority share in OLX Uzbekistan, one of the country’s largest online marketplaces.
Structure of the Deal
TBC Bank Group created a joint venture with Titan Investments to complete the acquisition. Together, they purchased OLX Uzbekistan from OLX Group, the classifieds arm of Prosus. Prosus itself belongs to Naspers, the South African consumer giant.
Under this structure, TBC Bank Group owns 50% of OLX Uzbekistan plus one share, giving it majority control. Titan Investments holds the rest of the ownership. With this setup, TBC Bank takes the lead in shaping the platform’s expansion strategy.
Market Reach of OLX Uzbekistan
OLX Uzbekistan, also known as OLX UZ, attracts 5.4 million monthly active users. The platform connects buyers and sellers across categories such as vehicles, real estate, goods, and services. More than 20% of the nation’s internet users visit the platform regularly, which gives it a powerful reach.
TBC Bank plans to keep the OLX UZ brand unchanged. However, the group intends to embed digital banking products into the marketplace. By integrating financial services directly into OLX, TBC hopes to expand fintech adoption and strengthen customer loyalty.
Role of TBC Uzbekistan
TBC Uzbekistan, the group’s regional digital bank, plays a central role in this deal. The subsidiary already serves 21 million users, which represents over half of Uzbekistan’s population. TBC manages it through TBC Digital, a holding company launched in March 2025.
TBC Bank Group controls the majority of TBC Digital, while the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) each hold 10%. This strong investor backing reflects global confidence in TBC’s digital strategy.
Nika Kurdiani, CEO of TBC Uzbekistan, described the move as “the next logical step in our expansion and diversification strategy.” He emphasized that the acquisition allows the bank to reach new customers, enter new market segments, and capture more customer attention. Kurdiani also confirmed that the long-term goal is to fully integrate OLX UZ into the TBC Uzbekistan ecosystem.
Strategic Implications
The TBC Bank OLX Uzbekistan transaction highlights how fintech leaders use strategic acquisitions to capture customer attention. By linking digital banking with a leading classifieds platform, TBC Bank gains access to millions of active users while diversifying its services.
Furthermore, this move illustrates the convergence of commerce and finance in emerging markets. Platforms once known mainly for online trading now serve as gateways for financial services. TBC’s vision is clear: combine OLX’s customer base with innovative banking tools to reshape digital commerce in Uzbekistan.
Industry analysts believe this acquisition could position TBC as a regional fintech powerhouse. With competition growing in Central Asia, especially from firms like Kaspi.kz in Kazakhstan, the deal gives TBC a stronger foundation for expansion.
