TBC Bank Group acquires OLX Uzbekistan
Business
TBC Bank Group has announced the acquisition of a controlling stake in OLX Uzbekistan, the country’s leading online classifieds platform. The deal, one of the largest M&A transactions in Uzbekistan in recent decades, marks a major step in expanding TBC’s digital ecosystem.
On August 21, 2025, TBC Bank Group (TBC PLC), operator of the largest digital banking ecosystem in Uzbekistan and a leading fintech group in Georgia, announced the acquisition of a controlling stake in OLX Uzbekistan from OLX Group, part of Prosus.
OLX Uzbekistan is the 6th most visited website in the country, with 5.4 million monthly active users and 2.2 million active listings. Covering over 20% of Uzbekistan’s internet audience, it is the leading platform for trading goods, services, cars, and real estate.
To execute the deal, TBC Bank Group created a joint venture with Titan Investments. Under the agreement, TBC will own 50% + 1 share of OLX Uzbekistan, while Titan holds the remaining stake. The platform will continue to operate under the OLX brand after regulatory approval.
The acquisition strengthens TBC’s position in Uzbekistan and is aligned with its growth and diversification strategy. Earlier in June, TBC also acquired a controlling stake in BILLZ, a SaaS retail automation platform.
Nika Kurdiani, CEO of TBC Uzbekistan, commented:
“Acquiring OLX Uzbekistan is a logical step in expanding our ecosystem. We are attracting new clients, entering new segments, and enhancing our leadership in the digital solutions market.”
OLX Uzbekistan is the 6th most visited website in the country, with 5.4 million monthly active users and 2.2 million active listings. Covering over 20% of Uzbekistan’s internet audience, it is the leading platform for trading goods, services, cars, and real estate.
To execute the deal, TBC Bank Group created a joint venture with Titan Investments. Under the agreement, TBC will own 50% + 1 share of OLX Uzbekistan, while Titan holds the remaining stake. The platform will continue to operate under the OLX brand after regulatory approval.
The acquisition strengthens TBC’s position in Uzbekistan and is aligned with its growth and diversification strategy. Earlier in June, TBC also acquired a controlling stake in BILLZ, a SaaS retail automation platform.
Nika Kurdiani, CEO of TBC Uzbekistan, commented:
“Acquiring OLX Uzbekistan is a logical step in expanding our ecosystem. We are attracting new clients, entering new segments, and enhancing our leadership in the digital solutions market.”
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