Georgian TBC Bank has obtained the full banking license, following the board of the Central Bank issuing resolution on April 11, the Central Bank said.
The plans of the Georgian TBC Bank to enter the market of Uzbekistan with its digital neobank Space became known in January 2019. In April, the bank purchased the controlling stake in Payme e-wallet for $ 5.5 million.
In January of this year, the Banking Supervision Committee of the Central Bank issued a provisional license to TBC Bank to set up a bank in Tashkent.
Earlier, TBC Bank reported that after obtaining a license they will start working in Tashkent and then expand to the provinces., with about 20 branches expected to open by the year-end.
At the initial stage, TBC Bank plans to invest $ 20-30 million.