London Stock Exchange-listed TBC Bank Group PLC (LSE: TBCG) has officially announced the completion of its acquisition of a controlling stake in OLX Uzbekistan (FE “OLX CLASSIFIEDS” LLC), the country’s leading online classifieds platform.
This major transaction was finalized on July 24, 2026, following approval from the Committee for the Development of Competition and Protection of Consumer Rights of the Republic of Uzbekistan.
As part of the transaction, TBC Bank Group formed a joint venture (JV) with Titan Investments, an international investment holding company.
- JV ownership: TBC Group holds a 50% + 1 share controlling stake, with Titan Investments holding the remaining equity.
- Seller: OLX Group, the classifieds business of global technology investor Prosus.
- Outcome: The joint venture acquired 100% of OLX Uzbekistan.
About Titan Investments: Backed by top-tier Middle Eastern institutional investors, family offices, and sovereign wealth funds, Titan Investments brings deep domain expertise in investing in and scaling high-growth digital classifieds platforms globally. OLX Uzbekistan ranks among the top 10 most visited websites in the country. Key operational metrics include:
- Monthly Active Users (MAU): Over 5 million.
- Active Listings: Over 2 million across goods, services, vehicles, and real estate.
- Market Reach: Serving more than 17% of Uzbekistan’s active internet users.
Strategic plans
- Brand Continuity and Independence: OLX Uzbekistan will continue to operate as a standalone, open classifieds platform under its established brand name.
- Fintech Integration: TBC Uzbekistan plans to progressively embed its financial and payment services into the OLX platform. This is expected to unlock seamless in-app payments, consumer lending, and BNPL (buy-now-pay-later) solutions across B2C and C2C segments.
- Synergistic Growth: While Titan Investments leverages its expertise to optimize operational strategies and scale the core business, TBC will focus on embedding digital banking services and co-developing new product features.
Nika Kurdiani, CEO of TBC Uzbekistan:
“We’re delighted to announce the completion of this acquisition, which represents continued execution on our strategy to diversify our business. It enables TBC to enter a new high-growth vertical, bringing millions of new customers, allowing us to capture a greater share of customer attention, and unlocking additional synergies that drive long-term customer loyalty and engagement. We will preserve what makes OLX unique and trusted—an open and independent platform—while creating new products and services for its users.”
TBC Bank Group’s strategic expansion is set to significantly reshape Uzbekistan’s e-commerce and fintech landscape. Already operating a dominant financial footprint in Georgia and a rapidly growing digital ecosystem in Uzbekistan (including TBC Bank and Payme), TBC is positioning itself as a central digital ecosystem player in the region by seamlessly connecting payment capabilities with the country’s largest classifieds marketplace.
