6th Nov 2026 11:45
(Alliance News) - TBC Bank Group PLC on Friday said it is well positioned to deliver its long-term targets as it posted a record profit in the third quarter and launched a new share buyback programme.
Shares in TBC were up 6.5% to 5,080.00 pence late Friday morning in London.
The Tbilisi-based lender in Georgia and Uzbekistan reported a record net profit of GEL404.2 million, or GBP116.4 million, in the three months that ended September 30, up 9.8% from GEL368.3 million a year before. Before tax, net profit rose 11% to GEL472.2 million from GEL425.4 million.
Net interest income increased 13% to GEL700.2 million from GEL621.6 million, while net fee and commission income rose 2.0% to GEL154.0 million from GEL151.2 million.
Operating expenses increase by 13% to GEL371.4 million from GEL327.5 million.
TBC reported a return on equity of 23.2%, down from 24.4% in the third quarter of 2025.
The company declared a third-quarter dividend of GEL1.75, unchanged from the prior year.
TBC also announced a new share buyback programme of up to GEL50 million, about GBP14 million, starting on Friday and ending on February 28. TBC said it will repurchase a maximum of 5.6 million shares. The programme will be brokered by Investec Bank PLC.
TBC said its Georgian operations were solid in the quarter, with net profit up 17% year-on-year to GEL406 million. In Uzbekistan, the gross loan book increased to GEL2.37 billion, signalling a gradual recovery in lending.
Looking ahead, TBC said it is well positioned to deliver on its 2026 to 2028 targets of 15% annual loan book growth, 23% annual return on equity growth and 25-45% annual payout ratio, including dividends and share buybacks.
By Camilla Borri, Alliance News reporter
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