TBC Uzbekistan Grows Its Loan Book to $946 Million Through In-App BNPL, Cards and Cash Loans – Daily Business

Instalment lending has become one of the fastest-growing segments of Uzbekistan’s consumer finance, and TBC Uzbekistan is among the institutions shaping its direction. According to Euromoney, the bank’s loan portfolio reached approximately $946 million by the end of 2025, spread across cash loans, credit cards and buy-now-pay-later financing built directly into its payments application.

The change is not only about volume. It shows how credit is being redesigned: from a separate request that a customer submits and waits for, to a feature that appears at the very moment of a purchase decision. The checkout toggle and the logic of embedded credit

The bank’s Chief Executive, Nika Kurdiani, described the mechanism simply. Buy-now-pay-later was embedded into the payments app, so that at checkout the customer sees a toggle. The bank calls it the fastest loan in the world. Whatever the label, the design principle is clear: the fewer steps between desire and approval, the more likely a customer is to complete a purchase and the more naturally credit becomes part of daily spending.

This approach works because the lender already knows the customer. The payments application has recorded transactions, income patterns and repayment behaviour, so a decision can be made in seconds. Traditional underwriting, which relies on documents collected at the time of application, cannot match that speed.

Three credit products, one portfolio

The portfolio is diversified. Cash loans serve customers who need funds for a variety of purposes. Credit cards offer revolving access to money and are tied to everyday card use. Instalment financing at the point of sale covers specific purchases and typically involves shorter terms. Each product meets a different need, and together they reduce the bank’s dependence on any single segment.

The expansion of the product line in 2025 also included business daily banking, insurance and subscription-based services. As the range widens, the number of services used per customer rises, which deepens the relationship and makes the application a primary financial interface.

Larger purchases and the demand for flexible entry terms

The same dynamic extends to bigger purchases. A growing number of consumers research major expenses online and compare how they can be financed before making a decision. Search interest in phrases such as “автокредит без первоначального взноса” reflects a broader shift in the market: buyers want to know what the initial outlay will be, what the monthly amount looks like and how quickly the approval can be completed. For TBC Bank Uzbekistan, this behaviour shows why transparent terms and an uncomplicated application matter as much as the interest rate, since a clear offer builds confidence before the customer even speaks to an adviser.

Lenders that succeed in this environment tend to combine three qualities: a data-driven approach to approvals, an honest presentation of the full cost of credit, and a digital process that does not require multiple visits. The first reduces risk, the second protects trust, and the third keeps customers from abandoning the process.

Technology stack as a competitive advantage

Chief Financial Officer Sharof Sharipov told Euromoney that the whole technology stack is built in-house, which reduces both acquisition and servicing costs. In credit, that matters. When a bank controls its scoring models, its application interface and its payments infrastructure, it can test new offers rapidly, adjust limits and respond to changes in repayment patterns without negotiating with outside suppliers.

The bank has also invested in artificial intelligence. The Lola assistant supports customer service, making interactions more responsive and scalable. Efficient servicing is a requirement for any lender whose customer base measures in the millions, since the cost of handling queries can otherwise erode the margin on small loans.

Scale that supports risk management

By the end of 2025, the bank had 23 million registered users, 4.6 million more than a year earlier, and about six million were active every month. Payments through Payme and TBC Bank amounted to $9.2 billion and accounted for around 20 percent of the national market. A user base of that size offers a deep pool of behavioural data and allows credit models to be refined constantly.

Euromoney also notes that the bank has remained profitable while expanding quickly. In consumer lending, rapid growth often brings rising defaults, so profitability alongside growth indicates that underwriting has so far kept pace with the expansion of the portfolio.

What lies ahead for consumer credit

Merchants also benefit from the embedded model. A shop that offers instalment payment at checkout can raise the average basket and convert customers who might otherwise postpone a purchase. The bank, in turn, gains a steady flow of small, short-term loans spread across thousands of sellers, which diversifies exposure and keeps individual defaults manageable. Pricing transparency is the other critical element. Instalment offers are easy to accept because the monthly amount looks small, yet customers should always be able to see the total payable and the schedule before confirming. Providers who display this information plainly tend to see fewer disputes and stronger repeat usage, while those who hide it risk regulatory attention and reputational damage.

The in-app approach also changes how lenders think about collections. Because the customer uses the same application every day, reminders, repayment options and rescheduling can be offered in the same place, in a tone that matches the rest of the service. Early, friendly contact tends to be more effective than formal notices sent weeks after a missed payment.

The next phase will test both discipline and creativity. Instalment products encourage frequent borrowing, which requires careful monitoring of customers’ total debt. Regulators and lenders alike will pay attention to responsible lending practices, such as clear disclosure and sensible limits.

At the same time, opportunities are considerable. Younger customers are comfortable with digital tools, merchants want to offer instalment options to raise sales, and lenders are learning to price risk more precisely. Embedded credit sits at the intersection of these interests. Competition will therefore centre on trust as much as on speed. A lender that explains its decisions, communicates changes in terms in advance and resolves complaints quickly can retain customers even when rivals present similar headline offers.

For consumers, the practical advice is simple: treat instalment credit as a planning tool, compare the full cost, and check that monthly commitments fit the household budget. For the industry, the lesson is that the most successful credit products are likely to be those that feel like a natural part of the purchase rather than a separate bureaucratic step.