Q4 2025 TBC Bank Group PLC Earnings Call Transcript
Key Points
- TBC Bank Group PLC (TBCCF) reported a record net profit of GEL390 million for Q4 2025, with a return on equity of 24.9%.
- The Georgian franchise showed strong performance with a 15% year-on-year increase in net profit and a 25.7% return on equity.
- The company declared a final dividend of GEL3.87 per share, bringing the total 2025 dividend to GEL8.87, a 10% increase year-on-year.
- Digital engagement in Georgia has grown significantly, with a 24% year-over-year increase in digital customers and a 47% DAU to MAU ratio.
- Uzbekistan operations showed a 67% revenue growth and a 45% loan growth year-over-year, with the issuance of almost 1 million Salom cards.
- Uzbekistan faced challenges due to regulatory changes, leading to a slight contraction in lending and impacting revenues and earnings.
- The cost of risk in Uzbekistan was high, with a guidance of 7% to 10% for 2026, indicating potential volatility.
- Georgian customer deposits decreased by 12% year-on-year, which could impact liquidity.
- The Uzbek loan portfolio saw a drop in Q4 2025, and the company expects it to remain flat or decrease in the first half of 2026.
- Regulatory changes in Uzbekistan have imposed portfolio caps on unsecured asset classes, requiring strategic adjustments.
Hello, and welcome, everyone, to the TBC 4Q and FY2025 IFRS Results Conference Call. My name is Becky, and I will be your operator today. (Operator Instructions). I will now hand over to your host, Andrew Keeley, Director of Investor Relations to begin. Please go ahead.
Thanks very much, Becky, and welcome, everybody, to TBC Group's 4Q and full year 2025 results call. It's great to have you with us today. As usual, I'm joined on the call today by our Group CEO, Vakhtang Butskhrikidze; our Group CFO, Giorgi Megrelishvili; and we'll also be joined for Q&A by Oliver Hughes, our Head of International Business. We'll also start with a presentation from Vakhtang and Giorgi and then go to Q&A. 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 our results
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