TBC Group acquires OLX Uzbekistan to expand digital finance

By Milan Rojan

TBC Bank Group has completed the acquisition of a majority stake in OLX Uzbekistan, strengthening its digital ecosystem strategy and expanding its reach beyond financial services into online marketplaces in one of Central Asia’s fastest-growing digital economies.

Nika Kurdiani, Chief Executive Officer of TBC Uzbekistan, said: “ It has enabled TBC to enter a new high-growth vertical, bringing millions of new customers and unlocking additional synergies that drive long-term customer loyalty and engagement.”

The transaction has been completed following regulatory approval from the Committee for the Development of Competition and Protection of Consumer Rights of the Republic of Uzbekistan.

To execute the acquisition, TBC Group has formed a joint venture with Titan Investments, an international investment holding company backed by institutional investors, family offices and sovereign wealth funds from the Middle East. The joint venture has acquired 100% of OLX Uzbekistan, with TBC Group holding 50% plus one share and Titan Investments owning the remaining stake.

OLX Uzbekistan has ranked among the country’s top ten most-visited websites, attracting more than five million monthly active users and hosting over two million active listings across services, consumer goods, vehicles and real estate. The platform has served more than 17% of Uzbekistan’s active internet users.

The acquisition has supported TBC Group’s strategy to diversify its business while creating opportunities to integrate digital banking, payments and financial services into the classifieds platform. OLX Uzbekistan has continued to operate independently under the OLX brand while enabling future collaboration with TBC Uzbekistan to develop new financial products and services.

The partnership has combined Titan Investments’ expertise in scaling digital classifieds with TBC Group’s financial technology capabilities, positioning the companies to strengthen digital commerce and embedded financial services across Uzbekistan.