TBC Bank Group Acquires Majority Stake in OLX Uzbekistan

London-listed TBC Bank Group has agreed to acquire a majority stake in OLX Uzbekistan, a leading online classifieds platform, from OLX Group, the classifieds business of Prosus.

The acquisition will give TBC Uzbekistan access to new customer segments through OLX UZ, Uzbekistan's sixth-most visited website, which has 5.4 million monthly active users and 2.2 million active listings across services, goods, vehicles, and real estate.

Digital Banking Ecosystem

The deal with Prosus, one of the largest technology investors globally, represents a milestone for Uzbekistan's growing tech sector and stands among the most significant M&A transactions in the country in the past 30 years.

TBC Uzbekistan operates Central Asia's leading digital banking ecosystem, reaching 21 million unique registered users. The platform serves over 20% of Uzbekistan's active internet users.

Growth Strategy

The acquisition follows TBC Bank Group's agreement in June to acquire a majority stake in BILLZ, a retail management SaaS platform, further strengthening and diversifying its market-leading offering in Uzbekistan.

TBC Bank Group operates the leading financial services group in Georgia and one of the largest digital banking ecosystems in Uzbekistan, continuing its profitable growth strategy through strategic acquisitions.

To find out more, visit: tbcbankgroup.com