TBC Bank Group is strengthening its presence in Uzbekistan by completing the acquisition of a controlling stake in the largest online ad platform OLX.
Following an earlier deal to buy the popular Uzbek payment service Payme, the banking group continues to implement its digital expansion strategy in Central Asia. The purchase of OLX, according to experts, will be one of the largest transactions in the last three decades in the private sector of Uzbekistan.
Although the financial terms of the deal are not officially disclosed, market sources confirm that this is a significant amount of capital aimed at consolidating leading digital assets. OLX has a stable position as the largest online service for private and commercial ads in Uzbekistan, reaching millions of users and actively developing areas of e-commerce, rental, recruitment and the secondary market.
The deal marks a key stage in the transformation of the country's financial and digital ecosystem. Uzbekistan remains an attractive destination for foreign investors, especially in the context of the government's efforts to digitalize and liberalize the economy. In the face of growing competition in the fintech and e - commerce sectors, TBC Bank Group is strengthening its position by creating synergies between payment services and digital platforms.
This transaction is of strategic importance for the national market. It confirms the trend towards consolidation and vertical integration of digital services, as well as demonstrates the confidence of international investors in the sustainable development of the Uzbek economy. In the long run, the competitive environment is expected to strengthen and the quality of online services for the population will improve.
The market is looking forward to TBC Group's further steps in the country, including possible expansion in digital banking, online lending and marketplaces. Given the growth of consumer activity and digital literacy, these steps can significantly change the landscape of digital services in Uzbekistan.
