Q3 2025 TBC Bank Group PLC Earnings Call Transcript
Key Points
- TBC Bank Group PLC (TBCCF) reported a record quarterly net profit of GEL 368 million, marking a 6% year-on-year increase.
- The company achieved a strong return on equity of 24.4% in the third quarter.
- The Georgian economy showed robust performance with a 6.5% GDP growth in Q3, contributing to a 7.7% growth over nine months.
- The digital ecosystem expanded significantly, with registered users reaching nearly 22 million, a 28% increase year-on-year.
- The Uzbekistan business demonstrated impressive growth, with net profit up by 30% year-on-year and the loan book nearly doubling to close to $1 billion.
- Inflation in Georgia reached 4.8% in September, surpassing the National Bank of Georgia's target of 3%.
- The Uzbekistan business faced challenges with regulatory changes impacting the growth of unsecured consumer loans.
- The company expects to fall below its 2025 net profit guidance due to regulatory shifts in Uzbekistan.
- Cost of risk in Uzbekistan remains elevated, particularly due to tests in new segments and channels.
- Fee and commission income in Georgia faced pressure due to increased card network fees and stable Lari exchange rates.
Hello, everyone, and welcome to today's TBC third-quarter and nine-months 2025 IFRS results conference call. My name is Sam, and I'll be the call moderator today. (Operator Instructions)
I'd now like to hand you over to today's host, Andrew Keeley, Director of Investor Relations, to begin. So Andrew, please go ahead.
Thank you very much, Sam. And welcome, everybody, to our third-quarter results call. I'm joined on today's call by Vakhtang Butskhrikidze, our CEO; by Giorgi Megrelishvili, our CFO; and by Oliver Hughes, our Head of International.
As usual, we'll have a presentation, and then we'll run through and have a Q&A session afterwards. And with that, I'll hand over to Vakhtang. Thank you.
Thank you, Andrew. Hello, everyone, and thank you for joining us today. I am pleased to present another highly profitable quarter with record
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