A major event has taken place in Uzbekistan in the field of business and digital technologies. TBC Bank acquired the controlling stake of OLX Uzbekistan, and now it is expected that the online classifieds platform will be integrated into the banking ecosystem. At the same time, the OLX brand will continue to operate under its own name.
According to the information, the seller was OLX Group, which is part of Prosus. In the company’s statement, it was emphasized that this deal will provide TBC Uzbekistan with the opportunity to enter new customer segments. This will be carried out through one of the most visited websites in the country — OLX uz. Currently, the platform has about 5.4 million active users per month and 2.2 million relevant listings.
The company also noted: “This deal became an important step for Uzbekistan’s rapidly developing technological sector and is recognized as one of the largest mergers and acquisitions over the last 30 years.”
To acquire OLX Uzbekistan, TBC Bank Group created a joint venture with Titan Investments. Titan Investments is a major international investment holding that cooperates with institutional investors, family investment management companies, and sovereign funds of the Middle East.
According to the agreement, the joint venture will purchase 100% of OLX Uzbekistan shares. TBC Bank Group will control 50% + 1 share, while the remaining stake will belong to Titan Investments. The deal is expected to be officially completed after obtaining the necessary regulatory approvals.
TBC Uzbekistan plans to integrate its digital banking products into OLX Uzbekistan in the future. However, the platform will keep its brand and continue its activity as usual.
TBC Uzbekistan CEO Nika Kurdiani emphasized that acquiring the online classifieds platform is a logical step in the company’s expansion and diversification strategy.
According to him, this move will allow the bank to attract new clients, enter additional segments, and increase the share of audience attention.
Thus, this large investment of TBC Bank has become significant news not only in the financial services market but also in the field of digital technologies. Experts highlight that this process may bring the country’s economy and digital infrastructure to a new stage.
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