TBC Bank shares fall as profit edges up; costs increase sharply
TBC Bank Group PLC on Thursday said the economic outlook for Georgia and Uzbekistan remained robust, as profit rose slightly amid significantly higher costs.
The Tbilisi-based lender in Georgia and Uzbekistan said net pretax profit rose 1.7% to ₾425.4 million, around £121.4 million, in the third quarter from ₾418.2 million a year ago.
Net interest income jumped 24% to ₾611.5 million from ₾492.6 million.
Interest income rose 27% to ₾1.22 billion from GEP958.2 million. Interest expense came in 31% higher at ₾609.6 million from ₾465.3 million.
Total operating income was 17% higher at ₾880.2 million from ₾753.7 million. Operating expenses increased 18% to ₾331.9 million from GEP280.2 million.
TBC Bank declared a third quarter dividend of ₾1.75 per share, down 31% from ₾2.55 a year ago.
Looking ahead, the company said the economic outlook for Georgia and Uzbekistan remains robust, with TBC Capital raising 2025 growth projections for Georgia to 7.3% from 7.1% and for Uzbekistan to 8.0% from 7.4%.
It highlighted that Georgia’s real gross domestic product climbed 6.5% on-year in the third quarter of 2025, while in Uzbekistan it grew by 8.2%.
TBC Bank shares fell 7.0% to 3,993.66 pence each on Thursday afternoon in London.
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