TBC Bank Group PLC has formally completed the acquisition of a majority stake in OLX Uzbekistan, the country’s dominant online classifieds platform, marking the group’s entry into a new vertical within Uzbekistan’s digital economy. The deal, closed on July 24, 2026, was executed through a joint venture structure and follows the receipt of regulatory approval from Uzbekistan’s Committee for the Development of Competition and Protection of Consumer Rights. Share registration is expected to be finalized shortly as part of routine post-completion procedures.
The acquisition reflects a calculated step in TBC Bank Group’s strategy to build a diversified digital ecosystem in Uzbekistan — one that extends beyond conventional banking into commerce, payments, and the broader digital consumer experience. With OLX Uzbekistan already operating profitably and commanding a top-ten position among the country’s most visited websites, the deal gives TBC immediate access to scale and audience depth that would take years to build organically.
Deal Structure: A Strategic Joint Venture with Titan Investments
To structure the transaction, TBC Bank Group partnered with Titan Investments, forming a joint venture that acquired 100% of OLX Uzbekistan. TBC Group holds 50% plus one share in the JV, with Titan Investments retaining the remainder. The acquisition was completed in accordance with a previously signed share purchase agreement, with OLX UZ transitioning from OLX Group — the classifieds arm of global technology investor Prosus — to the new joint ownership structure.
Titan Investments is an international holding company with a capital base drawn from institutional investors, family offices, and sovereign wealth funds concentrated in the Middle East. Its investment focus is on high-growth digital companies, with particular expertise in online classifieds platforms. As an active investor, Titan works alongside management teams to execute value creation strategies, optimize operations, and scale business systems — a model that complements TBC’s focus on financial product integration.
The joint venture structure is designed to bring complementary strengths to bear without compromising the operational independence of either partner. Titan contributes marketplace knowledge and growth-stage investment expertise; TBC contributes banking infrastructure, digital product capabilities, and an existing relationship with millions of Uzbek consumers. Together, the partnership is positioned to develop OLX UZ in directions that neither organization could pursue as effectively alone.
OLX Uzbekistan: Scale, Reach, and Market Position
OLX Uzbekistan is a market-defining platform by any relevant measure. It sits among Uzbekistan’s top ten most visited websites, draws more than 5 million monthly active users, and hosts over 2 million live listings across real estate, vehicles, goods, services, and jobs. The platform reaches approximately 17% of the country’s active internet users — a penetration figure that gives OLX UZ a level of audience breadth few digital properties in the market can match.
Following the acquisition, OLX Uzbekistan will continue to operate as a standalone, open classifieds platform under the existing brand. Preserving OLX’s identity and neutrality is central to the post-acquisition strategy: the platform’s value to users depends on its reputation as an independent, accessible marketplace. TBC has been explicit about maintaining this character while gradually developing the financial and payment services layer that the acquisition is designed to enable.
Nika Kurdiani, CEO of TBC Uzbekistan, stated: “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.”
Cashless Adoption and the Rise of Digital Financial Services
The timing of this acquisition aligns with an accelerating shift in consumer financial behavior across Uzbekistan. Demand for digital-first financial tools — from mobile payments to remote card issuance — has grown substantially as smartphone penetration deepens and e-commerce activity expands. Interest in services such as virtual visa karta ochish and виртуальная карта has risen significantly, illustrating a consumer population that is actively moving toward contactless, app-based financial management and away from cash-dependent behavior.
This behavioral backdrop makes the strategic logic of the OLX acquisition particularly coherent. A platform with 5 million monthly active users, many of whom are already engaged in commercial transactions, represents a natural audience for embedded digital financial products. By meeting users at the point of commercial intent — when they are actively buying, selling, or browsing — TBC can offer relevant financial tools in a context where they have immediate practical value rather than arriving as unsolicited marketing.
The convergence of digital commerce and digital finance is a well-documented trend in more developed markets, where super-apps and embedded finance platforms have reshaped how consumers interact with both banking and commerce. TBC’s move to position OLX UZ as an integrated financial-commercial platform places it at the leading edge of this shift in Central Asia.
Integration Roadmap: Where Banking and Classifieds Converge
The financial services integration planned for OLX UZ is expected to develop incrementally over time. TBC Uzbekistan has indicated its intention to offer payment and financial products through the platform, deepening engagement across both consumer and business user segments. The precise product roadmap will be shaped by user behavior on the platform and the evolving capabilities of the TBC-Titan joint venture, but the strategic direction is clear: OLX UZ is to become a point of access for financial services, not just a listings board.
For TBC, the commercial opportunity is substantial. OLX UZ’s user base includes active participants across real estate, automotive, and consumer goods markets — segments where financing, insurance, and payment products are natural adjacencies. Reaching these users at the moment of a transaction decision, rather than through separate marketing channels, creates a fundamentally different and more efficient path to product adoption.
For OLX UZ itself, the partnership opens a path to new revenue streams while preserving the platform’s core model. The classifieds business, already growing profitably, gains access to financial product capabilities that can enhance its offering to both buyers and commercial sellers — creating a reinforcing dynamic where banking deepens the marketplace and the marketplace broadens the bank’s reach. It is a structure built not for a single transaction, but for compounding long-term value.
