TBC Bank Uzbekistan secured USD 25 million in debt financing from a private debt fund that was managed by Switzerland-based impact investor BlueOrchard. The funds are expected to be dedicated to further expanding its overall ecosystem and optimise the financial inclusion in the region.
In addition, the financial institution will continue to focus on meeting the needs and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
According to the official press release, the expansion of TBC UZ’s ecosystem is set to contribute to the ongoing development and growth of the digital bank’s loan portfolio, as well as to the process of promoting financial inclusion in Uzbekistan, Central Asia’s largest country by population. The funding also follows the USD 10 million credit line that TBC UZ secured from responsibility Investment AH earlier in 2024, as the financial institution focused on diversifying its funding base and suite of solutions.
The current funding will enable TBC Bank to further diversify its funding base, while also expanding its microlending efforts. The financial institution will prioritise the process of delivering improved digital financial solutions that increase convenience, as well as optimise the lives of customers and partners.
TBC UZ represents a part of TBC Uzbekistan, a digital financial ecosystem in Central Asia. The company includes payme, a digital payment application that was developed for individuals and small businesses, as well as payme nasiya (payme instalments), an instalment credit business. BlueOrchard is a global impact investment manager, which dedicates its efforts to generating lasting positive impact for communities and the environment. The financial institution also aims to provide secure and efficient returns to investors.
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