The product will be incorporated in TBC Business, launched in December 2024, to offer a fully digital banking services to small businesses driving growth in Uzbekistan. The expanded suite will offer clients digital access to short-term business loans, available up to a limit of approximately USD 23,000 (UZS 300 million), and for a duration of up to 3 years. SME lending will initially be launched in Friends & Family mode, with full rollout to follow soon.
The launch aims to offer SMEs growth potential by providing quick and easy access to the funding they need for development. The loans will require minimal customer data, without the need for collateral. The data for loan eligibility and amount are sourced digitally by utilising TBC’s infrastructure for automatic assessment, scoring, and underwriting, driven by the country’s existent data environment.
The new product stands out with fast loan approval and disbursal times, allowing businesses to apply and receive the loan in a few minutes. This expansion reinforces the company’s commitment to supporting Uzbekistan’s financial landscape. As ASMEs are an increasingly important element of economic growth in the country, TBC aims to support their development and allocate them significant resources. The company expects SMEs lending to account for a material share of its total loan portfolio by 2025, given the early results from TBC Business and the untapped demand for a fully digital lending offering.
This move follows TBC’s expansion of its product offering available within its digital banking ecosystem. Alongside TBC Business, the firm also launched Osmon credit card and Salom debit card in 2024. These offerings are playing a significant role in tapping into new customer segments and diversifying revenue streams.
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