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**TBC Bank Group PLC Half-Year Report (2Q and 1H 2025)**
**Financial Performance**
TBC Bank Group PLC reported strong financial results for the second quarter (2Q) and first half (1H) of 2025.
2Q 2025 profit increased by 5% year-over-year (YoY) to GEL 346 million, with a return on equity (ROE) of 24.3%.
1H 2025 profit rose by 6% YoY to GEL 665 million, and ROE stood at 23.7%.
Net interest income grew by 27% YoY in 2Q 2025, driven by a 16% increase in the loan book and a net interest margin of 7.1%.
Net fee and commission income increased by 26% YoY, with strong performances in both Georgian and Uzbek payments businesses.
**Uzbekistan Expansion**
TBC Banks Uzbekistan operations continued to expand rapidly, with the loan book more than doubling to GEL 2.5 billion (USD 905 million) in 2Q 2025.
Retail deposits in Uzbekistan grew by 86% YoY, reaching a 4.1% market share.
TBC Uzbekistans operating income increased by 86% YoY to GEL 170 million (USD 62 million), and net profit rose by 36% YoY to GEL 32 million (USD 12 million), with a 20% ROE.
TBC Uzbekistan contributed 20% to the Groups total operating income and 9% to its net profit in 2Q 2025.
**Strategic Developments**
TBC Bank completed the rollout of TBC Insurance and acquired a majority stake in BILLZ, Uzbekistans leading SaaS platform for businesses serving the retail sector.
The bank established TBC Digital, a holding company overseeing its operations in Uzbekistan, and appointed a supervisory board chaired by Oliver Hughes.
TBC Uzbekistan was recognized as one of the worlds top fintech companies by CNBC and Statista.
**Capital Management**
The Board declared a quarterly dividend of GEL 1.75 per share for 2Q 2025, bringing the 1H 2025 payment to GEL 3.25.
A GEL 75 million share buyback program was announced, starting in the second half of August 2025.
**Risk Management and Compliance**
TBC Bank maintains a robust risk management framework, including stress testing, sensitivity analysis, and a comprehensive credit risk assessment process.
The bank has implemented measures to manage financial crime risks, including sanctions risk, and remains committed to compliance with international and domestic regulations.
**Economic Outlook**
Georgias economy is expected to grow by 7.1% in 2025, according to the IMF, while Uzbekistans GDP growth is projected at 5.9-6.6%.
TBC Banks management remains focused on meeting its 2025 targets and creating long-term value for shareholders.
**Conclusion**
TBC Bank Group PLC demonstrated strong financial performance in the first half of 2025, driven by robust core revenue generation and successful expansion in Uzbekistan. The banks strategic initiatives, capital management, and risk management practices position it well for continued growth and value creation.