Tbilisi (GBC) – TBC Bank Group PLC (TBC PLC) is targeting a profit of GEL 1.5 billion by 2025, with a compound annual growth rate (CAGR) of +15%.
Meanwhile, the group’s plan is to accumulate more than GEL 200 million in profit in Uzbekistan, with an expected annual growth of 80% in total loans.
For the year, TBC plans a dividend payout ratio of 25-35% at the group level, and expects a return on equity (ROE) of more than 23%.
Among the target indicators, the group expects 7 million monthly active digital users (Digital MAU), including more than 5 million in Uzbekistan. In 2024, Digital MAU in Uzbekistan was 5.9 million (+37.2% y.y), and in Georgia it was 1.1 million (+14% y.y).
In 2024, TBC PLC's profit was GEL 1.308 billion, +14.7% y.y, while Digital MAU was 7 million, +34% y.y; ROE in 2024 was 25.6%, -0.9 percentage point y.y.
According to Chairman of TBC PLC Arne Berggren, the numbers speak for themselves, with our loan book doubling in 2024, revenues and net profit up by 99% and 86%, respectively, and 26.9% ROE – Uzbekistan. As a result, digital monthly active users (MAU) increased by 34% to 7 million.
As of him, TBC remains a highly profitable market leader in Georgia, with 14% year-on-year loan book growth on a constant currency basis helping fuel 12% net profit growth and an excellent 25.4% ROE, despite the monetary easing cycle bringing margin pressures.
“2024 was a year of scaling up our business and expanding the products and services we offer our customers. We are growing fast, and profitably. Our loan book has more than doubled year-on-year to GEL 1,758 million (USD 626 million), while our revenues and net profit increased by 99% and 86% year-on-year, respectively, to GEL 414 million (USD 152 million) and GEL 110 million (USD 41 million). In Uzbekistan, we are now generating excellent returns – 26.9 % ROE and 7.2% ROA, despite investing heavily in new products, back-end infrastructure (such as our state-of-the-art data processing centre and generative AI projects) and fintech talent. Our progress in digital transformation has further strengthened our market presence. Digital monthly active users (MAU) reached 1.1 million, an 14% increase year-on-year”, - CEO Vakhtang Butskhrikidze said.