On July 24, 2026, TBC Bank Group PLC officially completed the acquisition of a majority shareholding in OLX Uzbekistan — the country’s leading online classifieds platform. The transaction was finalized in full accordance with the terms of the share purchase agreement signed earlier this year, marking a significant milestone in the Group’s strategy to diversify its business and strengthen its position across Uzbekistan’s rapidly expanding digital economy. The formal registration of the share transfer within Uzbekistan is expected to follow shortly as part of the standard post-completion implementation process.
The transaction received the required approval from the Committee for the Development of Competition and Protection of Consumer Rights of the Republic of Uzbekistan — a mandatory regulatory prerequisite for closing. With clearance secured, both parties moved to finalize the legal structure of the joint venture, reaffirming TBC Bank Group’s commitment to transparent, responsible, and fully compliant operations in the Uzbek market. The deal reflects the Group’s long-term confidence in Uzbekistan as a key growth market within its broader regional strategy.
Joint Venture with Titan Investments: Deal Structure and Strategic Rationale
To execute the acquisition, TBC Bank Group established a joint venture with Titan Investments — an international investment holding company backed by leading institutional investors, family offices, and sovereign wealth funds from the Middle East. Under the agreed structure, the joint venture acquired 100% of OLX Uzbekistan, with TBC Group holding 50% plus one share and Titan Investments retaining the remaining stake. This structure reflects a deliberate balance of control and shared strategic commitment between the two partners.
Titan Investments focuses on backing businesses built by outstanding entrepreneurs, with a particular emphasis on high-growth digital companies, including online classifieds platforms. The firm operates as an active investor, working closely with management teams to identify value creation opportunities, refine business strategies, and strengthen organizational capabilities. This hands-on approach, combined with deep expertise in scaling digital marketplaces across emerging markets, positions Titan as a highly complementary partner for TBC in this venture.
The partnership creates a distinctive synergy: Titan brings operational knowledge of digital classifieds and marketplace dynamics, while TBC Bank Group contributes its financial infrastructure, digital banking products, and extensive experience serving consumers and businesses across Uzbekistan. Together, the two organizations are well positioned to accelerate OLX UZ’s growth while building new embedded financial service capabilities within the platform’s existing ecosystem.
OLX Uzbekistan: Audience Scale and Market Position
OLX Uzbekistan ranks among the top ten most visited websites in the country, reaching approximately 17% of Uzbekistan’s active internet users. The platform hosts more than 5 million monthly active users and over 2 million active listings across a broad range of categories — including goods, services, real estate, vehicles, and jobs. By any measure, OLX UZ represents one of the most significant digital assets in the Uzbek market, offering unparalleled reach across both urban and regional audiences.
Following the completion of the acquisition, OLX Uzbekistan will continue to operate under the OLX brand as a standalone, open classifieds platform. Preserving OLX’s independence and neutrality is essential to maintaining the trust of its broad user base: the platform will remain accessible to all buyers and sellers, functioning as an open marketplace rather than a closed ecosystem. Over time, TBC Uzbekistan plans to introduce financial and payment services through OLX UZ, creating new monetization opportunities for the platform while expanding the bank’s customer reach.
Nika Kurdiani, CEO of TBC Uzbekistan, commented: “We’re delighted to announce the completion of this acquisition, which represents continued execution on our strategy to diversify our business. It enables TBC to enter a new high-growth vertical, bringing millions of new customers, allowing us to capture a greater share of customer attention and unlocking additional synergies that drive long-term customer loyalty and engagement. We will preserve what makes OLX unique and trusted — an open and independent platform — while creating new products and services for its users.”
Digital Lending Trends and the Shift Toward Online Financial Services
The completion of this deal comes against a backdrop of strong and sustained growth in demand for digital financial tools across Uzbekistan. Increasing smartphone penetration and expanding internet coverage are fundamentally reshaping consumer behaviour: more users than ever are managing financial decisions remotely, without visiting a physical branch. The growing frequency of searches for services such as plastik kartaga onlayn kredit olish and кредит на карту reflects a clear and measurable shift in consumer preference toward mobile and online credit access — a trend that TBC is well positioned to capitalize on through the OLX ecosystem.
This context makes the planned integration of banking products into OLX particularly compelling. The platform’s user base — active consumers regularly transacting across real estate, automotive, and everyday goods categories — represents a high-potential segment with a strong and growing appetite for digital financial solutions. Delivering credit and payment tools directly at the point of purchase decision creates favorable conditions for organic portfolio growth, while significantly reducing reliance on traditional and more costly acquisition channels.
Strategic Outlook: Embedded Finance and Long-Term Growth
The acquisition of OLX UZ fits within TBC Bank Group’s broader strategy of building a multi-vertical digital financial ecosystem in Uzbekistan. The Group has consistently expanded its presence across key segments of the country’s digital economy, leveraging behavioral data and product innovation to improve financial accessibility and deliver relevant, personalized solutions at scale across diverse customer segments.
The synergy between TBC’s banking infrastructure and OLX’s large, engaged user base creates clear opportunities for embedded financial products — from in-platform purchase financing and transaction insurance to simplified payment tools for commercial sellers. Embedded finance is among the most rapidly evolving areas in global fintech, and TBC’s established presence in Uzbekistan gives the Group a tangible competitive advantage in capturing this opportunity ahead of the wider market.
This transaction marks the beginning of a new chapter for TBC Bank Group in the region. The combination of OLX’s audience scale, Titan Investments’ expertise in high-growth digital classifieds, and TBC’s banking capabilities creates a configuration designed for sustained, long-term growth. The next phase — practical product integration and the gradual evolution of OLX UZ into a fully embedded financial services platform — will define the strategic trajectory of this partnership in the years ahead.
Anchors: “plastik kartaga onlayn kredit olish” → https://tbcbank.uz/product/credit-card/plastik-kartaga-onlayn-kredit-olish/ | “кредит на карту” → https://tbcbank.uz/product/credit-card/plastik-kartaga-onlayn-kredit-olish/ | Placement: section “Digital Lending Trends and the Shift Toward Online Financial Services”, paragraph 1.
