Tashkent, Uzbekistan (UzDaily.com) -- The net profit of the Georgian TBC Bank in Uzbekistan in the first half of 2023 made up 25.2 million Georgian lari (US$9.61 million).

The return on equity of business in Uzbekistan in the reporting period amounted to 25.1%.

TBC Bank noted that profits increased due to the increase in retail loans of TBC UZ and the increase in commissions in Payme.

In January-June, the revenue of the Payme payment system increased by 55.5% and amounted to 33.3 million lari (US$12.7 million).

According to the Georgian bank, in the second quarter of 2023, the volume of payments in Payme increased by more than 40% year-on-year compared to the same period in 2022, to 2.4 billion lari (US$916 million).

At the end of Q2 2023, TBC UZ retail loans amounted to ₾527 million (US$201 million), an increase of 29% quarter-on-quarter, resulting in a market share of unsecured consumer/micro loans of 12.1%.

At the same time, retail deposits reached ₾457 million (US$175 million), up 22% quarter-on-quarter, accounting for 2.6% of the retail deposit market share.