₾319 million profit, 23% ROE - TBC PLC publishes 1Q25 results

The 1Q 2025 Dividend will be payable in Pounds Sterling to ordinary shareholders of TBC PLC on the register of members at the close of business on the record date of 15 August 2025, pursuant to the following timetable: Ex-Dividend Date: 14 August 2025 Record Date: 15 August 2025 Currency Conversion Date: 15 August 2025 Payment Date: 5 September 2025 The Georgian Lari to Pound Sterling exchange rate that will apply to the final dividend payments on the conversion date of 15 August 2025 will be the average exchange rate of the National Bank of Georgia for the period of 11 August 2025 to and including of 15 August 2025 (5 days average).“I am pleased to announce that the Board has approved the decision to issue quarterly dividends, which will contribute to the regular growth of shareholder value. This step was made possible by the strong operating performance, business predictability and prudent capital management. Accordingly, the Board has declared an interim dividend for 1Q25 in the amount of 1.5 GEL per share,” said Vakhtang Butskhrikidze, CEO of TBC PLC.

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In detail:• The residential segment index increased by 3.1% compared to the previous month and increased by 9.2% compared to the same month of the previous year;• The non-residential segment index increased by 3.6% compared to the previous month and by 5.5% compared to the same month of the previous year;• The civil segment index increased by 0.9% compared to the previous month and increased by 3.5% compared to the same month of the previous year.In March 2025 the Construction Cost Index (CCI) increased by 2.2 percent compared to the previous month. The change was mainly due to a 11.7% increase in average monthly nominal wages of employees in the construction sector, which contributed 2.2 percentage points to the total index change.Compared to March 2024 the CCI increased by 6.3%. The latter was largely caused by the 22% increase in average monthly nominal wages of employees in the construction sectorand by the 2.7% increase in the prices of construction materials, which contributed 4.25 and 1.64 percentage points to the total index change, respectively. Along with this, the Construction.Cost Index posted a 23.5% increase compared to February.

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As of Q1/2025, the market is represented by 30 MFOs, whose total portfolio has decreased by 300 million compared to the same period in 2024. This is only the effect of the exit of 2 MFOs from the market. The former MFO, Crystal, moved to the microbanking market with credit investments of more than 500 million GEL. MBC, whose portfolio was within 120 million GEL, also left the MFO.Lazika Capital, which, unlike the other pawnshops in the TOP-8, is also preparing for microbanking, is represented by a business portfolio.

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From the total number of border crossings, visits by Georgian resident visitors amounted to 482,100, which is 7.6 per cent less than the same period in 2024.The GeoStat reports that Georgian residents made 323,100 tourist-type visits abroad, which is 1.7 per cent lower year-on-year. The majority of visits, 47.1 per cent, were made by Georgian residents aged 31-50, while visits made by women constituted 44.9 per cent of all visits.Additionally, according to GeoStat, during the first quarter of 2025, the largest portion of visits - 36.6 per cent - was made to visit friends and relatives. Most visits were to Turkey and Armenia, with 184,900 and 70,200 visits, respectively.The average number of nights spent during visits in the first quarter of 2025 was 6.7, which is 4.0 per cent higher than the figure recorded in the first quarter of 2024 (6.4 nights). Repeat visits accounted for 98.6 per cent of all visits.Expenses incurred during visits in the reporting period amounted to GEL 481.5 million, which is 5.7 per cent higher than last year. The average expenditure per visit increased by 14.4 per cent compared to the first quarter of 2024, reaching GEL 998.8.

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As of May 1, the volume of GEL in circulation is 6.4 billion (01.04.2025 – 6.3 billion; 01.05.2024 -5.7 billion).In March, there was a decrease of several million. In February, according to the NBG's "Monthly Review" (the month reviewed is one month ahead of the month of publication of the document), the volume of reserve money decreased by 47.7 million GEL (0.7%), to 7 billion, and the monetary base decreased by 112 million GEL.The NBG did not carry out transactions through foreign exchange auctions and the BMatch platform.With internal government conversions, the regulator's net sales amounted to 148 million lari. As a result, foreign exchange reserves decreased. The NBG could not fully cover the February deficit in March, but managed to replenish it by 102 million lari. As investment bankers say, the NBG purchased even more on BMatch in April.At the moment, according to the latest "Monthly Review", broad money (M3) decreased by 404.5 million lari in February. This was mainly due to a decrease in foreign currency deposits.

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Shukhratbek Kurbanov, who headed the National Interbank Payment Center (HUMO Payment System Operator), has been appointed as an advisor to the Chairman of the Management Board of TBC Bank in Uzbekistan on the development and servicing of the business segment payments.According to TBC Bank, this is another important step for the company in developing financial services for small and medium-sized businesses (SMEs) in Uzbekistan."We are pleased to welcome Shuhratbek Kurbanov to our team. His appointment is an important milestone in our company's strategy to create comprehensive financial solutions aimed at supporting small and medium-sized businesses in Uzbekistan. Shuhratbek's experience, deep understanding of the market and reputation will serve to develop our online banking services and stimulate entrepreneurship in the country," Nika Kurdiani, CEO TBC Uzbekistan."I am pleased to join the TBC Uzbekistan ecosystem, one of the fastest growing companies in Central Asia. Our mission is to create favorable conditions for the development of small and medium-sized businesses in the country through modern financial solutions, advanced technologies, and coordinated work of a team of professionals”, said Shuhratbek Kurbanov, Advisor to the Chairman of the Board of TBC Bank:The information is disseminated by the TBC Bank Uzbekistan 

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The General Director of the digital bank, Dimitri Kumsishvili, announced that 2024 would end with a profit, but expectations were disappointed, it did not (2024: - 792 GEL).For a newly launched financial institution, losses are a standard fact, because it has more expenses. In addition, it had to pay a fine of 36,000 GEL to the National Bank of Georgia, the regulator fined Paysera Bank with 46,000 GEL for violating money laundering legislation.As of April 1, the digital bank is represented by assets of 19.7 million GEL. Its main activity is transfers, in 20 currencies. The market advantage is low commission. In the direction of Europe it is 7 Euro. The most expensive, 15 Euro equivalent is a Chinese yuan transaction and is available only to legal entities.The lower rate for the Euro is due to its participation in SEPA (Single Euro Payments Area), which gives a competitive advantage.It has loan and deposit products. It is represented only by current accounts (3.4 million GEL).

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Lasha Abashidze was Davit Narmania's deputy during his term as mayor of Tbilisi. He also headed the administration during Giorgi Margvelashvili's presidency.It is worth noting that Davit Peradze has been the head of Georgian Railway since December 2017.

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