Uzbekistan's mobile-only bank TBC Bank Uzbekistan raises $38.2M in equity investment for expansion and new financial products.

Uzbekistan's mobile-only bank TBC Bank Uzbekistan raises $38.2M in equity investment, led by parent company TBC Bank Group and shareholders European Bank for Reconstruction and Development (EBRD) and World Bank's International Financial Corporation (IFC). The funds will be used to expand local presence and launch new financial products, aiming to leverage the country's high smartphone penetration and growing digitalization.

July 11, 2024
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