TBC Bank Uzbekistan has announced that it has secured a new USD 10 million credit line from Switzerland-based impact asset manager responsAbility Investments AG. Following this announcement, the funding is expected to support TBC UZ’s loan portfolio development, optimise the manner in which digital banks further diversity their funding base, as well as promote financial inclusion in the region of Uzbekistan.

In addition, the financial institution will continue to focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry. More insights on the USD 10 million credit facility responsAbility represents a Swiss impact asset manager which specialises in private market investments across three themes – financial inclusion, climate finance, and sustainable food. TBC Uzbekistan is a digital banking ecosystem in Central Asia and part of London-listed TBC Bank Group.

The company also continues to expand its suite of solutions while also leveraging low retail banking penetration and a rising demand for modern financial services among the country’s population. Currently, TBC Uzbekistan comprises three high-growth fintech businesses operating in the region of Uzbekistan: TBC UZ (a mobile-only bank), payme (a digital payments app for individuals and small businesses), and Payme Nasiya (Payme Instalments - a fast-growing instalment credit business). The additional USD 10 million credit facility brings TBC Bank Uzbekistan’s total funding to USD 35 million.

The continued partnership with responsAbility Investments AG underscores the aim of improving the confidents of the local digital banking sector. As the financial institution continues to grow its loan portfolio and diversify its product offerings, it is also expected to remain committed to promoting financial inclusion and enabling businesses and individuals to develop through access to improved digital financial services and tools. .