OLX Uzbekistan will join TBC Bank

TBC Bank group announced an agreement to acquire a controlling stake in OLX Uzbekistan online classifieds service, Kursiv reported.

For this acquisition, TBC Bank formed a joint venture with Titan Investments holding, supported by international investors. The shares will be purchased from OLX Group, which is part of Prosus.

According to the agreement, TBC Bank will become the owner of 50% + 1 share, while the remaining stake will belong to Titan Investments. Currently, regulatory approval is awaited to formalize the contract.

TBC Bank stated that the deal with Prosus allows the bank to access a new customer segment through OLX UZ. OLX Uzbekistan website is among the top 6 most visited sites in the country.

Currently, OLX Uzbekistan has 5.4 million active users per month and 2.2 million active listings. The OLX brand will continue to operate under its name in Uzbekistan.

TBC Bank plans to integrate the service into its ecosystem. This will enable further expansion of digital services.