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TBC Bank Group PLC on Thursday said it has bought a majority stake in online classifieds platform OLX Uzbekistan from OLX Group, the classifieds business of Netherlands-based technology firm Prosus NV. The Tbilisi-based lender in Georgia and Uzbekistan said the deal will give TBC Uzbekistan access to ‘new customer segments’ through OLX Uzbekistan, which is Uzbekistan’s sixth-most visited website. The site has 5.4 million monthly active users and 2.2 million active listings. For the acquisition, TBC Bank formed a joint venture with Titan Investments, an international investment holding company. The joint venture bought 100% of OLX Uzbekistan. TBC Bank will own 50% plus one share while Titan Investments will hold the remaining stake. ‘TBC Bank Group plans to consolidate OLX Uzbekistan, already growing profitably, into the TBC Uzbekistan ecosystem,’ the company said. The financial details of the transaction were not disclosed. ‘The acquisition of the country’s leading classifieds platform OLX Uzbekistan is the next logical step in our expansion and diversification strategy, as we add new customers, continue to move into new segments and increase our share of customer attention,’ said TBC Uzbekistan Chief Executive Officer Nika Kurdiani. ‘This acquisition is set to unlock powerful synergies between our platforms, accelerating our ability to deliver best-in-class digital banking products for existing and new customers. We are proud to partner with Titan Investments for this deal, who are bringing their successful track record of scaling classifieds into the mix.’ Shares in TBC Bank Group were up 0.8% at 4,615.00 pence in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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