Tbc Bank Group Plc · LSE:TBCG
Tbc Bank — Q4 2025 Earnings Presentation
33 slides from Tbc Bank's earnings presentation, Feb 20, 2026
Slide 1: 4Q and FY 2025 Results
Call presentation 4Q and FY 2025 Results Unaudited IFRS consolidated figures
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading this document, law and regulation, the Group expressly disclaims any obligation or undertaking to you agree to be bound by the conditions set our below. The information, statements and disseminate any updates or revis
Slide 3: Business and Strategic Update
Business and Strategic Update
Slide 4: 4Q 2025 Highlights
4Q 2025 Highlights Georgia Uzbekistan • Strong end to year, with Group ROE of 24.9 % • Dynamic 4Q in Georgia: net profit up by 15% YoY and ROE of 25.7% • TBC Uzbekistan’s digital ecosystem continued scaling, topping 6 mln MAU and operating income up 24% YoY Shaping the future of financial • Final di
Slide 5: Combining growth, profitability and returns
Growth Profitability Customers Returns Net profit 35 % 5Y CAGR ROE 26% 5Y average 7.3 mln digital MAU 25 -35 % dividend payout and Loans 15% 5Y CAGR 44 mln population incremental buybacks Leading regional financial institution Combining broad market dominance in Georgia with high growth digital fina
Slide 6: 2025 Group targets update
2025 Group targets update Strategic targets 2025 Result 2025 target Digital monthly active users (Digital MAU) 7.3 mln 7.0 mln + Net profit GEL 1,420 mln, 12% CAGR GEL 1.5 bln, 15%+ CAGR ROE 24.2 % 23 %+ Dividend payout ratio 35 %1 25 -35 % Strategic targets 2025 Result 2025 target Digital monthly a
Slide 7: TBC Georgia
TBC Georgia
Slide 8: Georgia's economic growth strong but normalising
Georgia’s economic growth strong but normalising Real GDP growth (%) Annual inflation and monetary policy rate (%) 10.6 11.0 9.7 7.8 7.5 5.0 8.0 7.5 4.5 4.0 3.5 Sep-26 Sep-20 Dec-20 Sep-21 Dec-21 Sep-22 Dec-22 Sep-23 Dec-23 Sep-24 Dec-24 Sep-25 Dec-25 Dec-26 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26
Slide 9: Strengthening leadership in Georgia
TBC Card: customer Market -leading retail Advisory -led branch model acquisition engine brokerage platform driving higher productivity Retail Retail Retail c. 1 mln 113 k - 40 % YoY Cards issued Monthly active investing users Average monthly transactions per (+>100% YoY) front -office employee c. 25
Slide 10: TBC Georgia continues consistently generating mid-20s ROE
TBC Georgia continues consistently generating mid -20s ROE 25.1 % 3 .8 % 16% Average ROE* Average ROA* Gross loan CAGR 1* Net profit and ROE 500 35.0% 27.8% 26.9% 26.4% 26.5% 25.7% 30.0% 23.7% 24.7% 24.0% 24.6% 23.9% 24.1% 400 23.3% 25.0% 20.0% 300 15.0% 10.0% 200 381 324 338 331 332 346 318 5.0% 29
Slide 11: Loans & deposits up by >10%, strong growth in cash loans
Loans & deposits up by >10%, strong growth in cash loans Market 37 % 37 % Retail gross loans (GEL bln )2 shares 1 Loans Deposits +0.1 pp YoY -0.1 pp YoY +12% Total retail portfolio YoY growth Gross loans +6% CIB Retail +36% 6.9 7.4 41% 35% 1.8 2.4 GEL 27.6 bln + 11% YoY 2 Cash loans Mortgages and ot
Slide 12: Increasing digital engagement
Increasing digital engagement: 1.3 mln digital MAU, up 24% YoY 1.9 mln > 250 k 70 % Monthly active customers Digital MAU added in a year Digital MAU penetration (MAC) +8pp YoY Digital users (thousands) Share of consumer loans and retail deposits issued fully digitally 47 % 47 % 47 % 46 % 47 % 1,301
Slide 13: TBC Uzbekistan
TBC Uzbekistan
Slide 14: Uzbekistan's economy continues to grow strongly
Uzbekistan’s economy continues to grow strongly Real GDP growth (%) Annual inflation and monetary policy rate (%) 8.2 7.7 14.0 12.5 5.0 6.7 7.0 6.1 6.3 7.3 6.2 1.6 Dec-24 Sep-20 Dec-20 Sep-21 Dec-21 Sep-22 Dec-22 Sep-23 Dec-23 Sep-24 Mar-25 Sep-25 Dec-25 Sep-26 Dec-26 Mar-21 Mar-22 Mar-23 Mar-24 Mar
Slide 15: 2025: Expanding the digital ecosystem
2025: Expanding the digital ecosystem Building out Accessing retailers business lending through BILLZ Business Business 134 k >3 k Business l oans issued Active sellers 65 % QoQ USD 1.4 bln Business loan portfolio growth GTV (+73% YoY) Payments volumes Salom card driving Osmon credit card Payme Plus
Slide 16: TBC Uzbekistan: continuing to scale up
TBC Uzbekistan : continuing to scale up Registered users (mln) Gross loans (GEL mln) Total operating income (GEL mln) 189 USD 62 USD 946 170 23.0 2,636 161 GEL 171 21.8 2,464 GEL 2,550 20.8 19.7 137 18.4 2,150 17.1 15.9 1,758 111 14.8 13.4 91 11.3 12.2 1,374 10.3 1,202 74 970 65 829 48 54 555 662 40
Slide 17: Increasing market share, material contribution to the Group
Increasing market share, material contribution to the Group Retail loans market share FY 2025 Uzbekistan contribution in Group (% share) Net profit 4.0% 4.2% 9% 2.4% 1.4% GEL 1,420 mln 0.5% 0.0% Group net profit Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Retail deposits market share Total operating i
Slide 18: George Tkhelidze appointed CEO of JSC TBC Bank
George Tkhelidze appointed CEO of JSC TBC Bank • George Tkhelidze appointed CEO of JSC TBC Bank, effective 1 March 2026 (subject to regulatory approvals) • Vakhtang Butskhrikidze remains Group CEO and hands over management of Georgian operations This change: Enables Group CEO Ensures leadership Supp
Slide 19: 4Q and FY 2025 Group Financial Results
4Q and FY 2025 Group Financial Results
Slide 20: Strong profitability with ~25% ROE and net profit +16% YoY in 4Q
Strong profitability with ~25% ROE and net profit +16% YoY in 4Q Net profit (GEL mln ) ROE +16% +0.8pp +9% +5% -1.4pp +0.5pp 25.6% 24.9% 24.2% 24.1% 24.4% 1,308 1,420 335 368 387 FY 2024 FY 2025 4Q 2024 3Q 2025 4Q 2025 FY 2024 FY 2025 4Q 2024 3Q 2025 4Q 2025 20 Source: IFRS Group Data
Slide 21: Operating income up by 15% YoY in 4Q
Operating income up by 15% YoY in 4Q, led by 23% YoY NII growth Total operating income (GEL mln ) Non -interest income (GEL mln ) +15% -0% +20% +2% +11% +2% 3,390 2,834 1,038 1,038 933 933 421 413 2,352 784 880 901 276 268 275 1,901 617 276 268 275 520 128 117 113 508 612 626 148 151 162 FY 2024 FY
Slide 22: NIM up 30bps in 2025 to 7%
NIM up 30bps in 2025 to 7% NIM Cost of funding, cost of deposit, loan and asset yields 5.8 % 24.4 % 5.8 % 21.6% 5.7% 24 .2% 6 .0% 20 .9 % 6.0 % 18.8 % +0.3pp +0.3pp -0.1pp 14.7% 14.7% 14.5% 13.5% 13.1% 14.0% 14.3% 14.1% 12.4% 12.6% 6.8% 6.3% 6.9% 6.9% 6.1% 6.7% 7.0% 6.7% 7.1% 7.0% 5.4% 5.7% 5.4% 5.8
Slide 23: Efficiency ratio improving as costs up just 10% YoY
Efficiency ratio improving as costs up just 10% YoY in 4Q Total operating expenses (GEL mln ) Cost to income +10% -1.8pp +18% +1% -0.4pp - 0.4pp 1,270 1,073 619 503 37.9% 37.5% 39.1% 37.7% 37.3% 307 332 336 570 651 148 164 162 159 168 174 FY 2024 FY 2025 4Q 2024 3Q 2025 4Q 2025 FY 2024 FY 2025 4Q 20
Slide 24: Declining risk costs in 4Q in both Georgia and Uzbekistan
Declining risk costs in 4Q in both Georgia and Uzbekistan NPLs Cost of risk 144% 72% 140% 74 % 142% 78% 136% 75% 128% 71% 0.5 % 6.3 % 0.7 % 10.2% 0.6% 7.7% 0.8% 9.7% 0. 4% 8.5 % +0.1pp +0.7pp - 0.5pp 1.5% 1.6% 2.7% 2.7% 2.5% 2.5% 2.2% 1.1% 1.0% 0.8% 31-Dec-24 31-Mar-25 30-Jun-25 30-Sep-25 31-Dec-25
Slide 25: Solid mid-teen balance sheet growth
Solid mid -teen balance sheet growth Gross loans portfolio (GEL bln ) Gross loans breakdown (31 December 2025) +13%/+12% 1 +5%/+5% 1 CIB Retail 37% 32% GEL 30 .2 bln 28.7 30.2 26.7 8% 20% 3% Uzbekistan MSME 31-Dec-24 30-Sep-25 31-Dec-25 Other 2 Customer deposits portfolio 3 (GEL bln) Customer deposi
Slide 26: Retaining material capital buffers
Retaining material capital buffers GEORGIA UZBEKISTAN 22.5% 19.8% 18.2% 18.2% 18.9% 16.6% 20.0% 17.0% 14.8% 13.0% 10.0% 8.0% CET1 Tier1 Total CET1 Tier1 Total Min. requirements Min. requirements 26 As of 31 December 2025 Capital adequacy ratios are calculated for the Bank only
Slide 27: Strong capital position and high profit generation enable DPS increase
Strong capital position and high profit generation enable 10% YoY DPS increase Total dividend and share buyback 1 (GEL mln ) Total DPS (GEL) +25% CAGR 25% 30% 35% 35% 35% 39% 35 % 40% 8.87 56 4 3.87 499 75 50 4Q 393 348 3Q 8.1 1.75 50 7.22 2Q 489 200 449 5.45 1Q 1.75 298 3.66 1.5 2021 2022 2023 2024
Slide 28: Appendix
Appendix 28
Slide 29: Group: profit and loss statement
Group: profit and loss statement Change Change Change GEL mln 4Q 2025 3Q 2025 4Q 2024 YoY QoQ FY 2025 FY 2024 YoY Net interest income 626 612 508 23% 2% 2,352 1,901 24% Net fee and commission income 162 151 148 9% 7% 617 520 19% Other operating non -interest income 113 117 128 (12%) (4%) 421 412 2%
Slide 30: Georgia: key macro variables
Georgia: key macro variables 4Q 2025 FY 2025 Georgian Georgian financial financial services Uzbekistan Group services Uzbekistan Group ROE 1 25.7% 16.4% 24.9% 24.3% 18.4% 24.2% ROA 2 3.8% 3.6% 3.4% 3.6% 4.2% 3.3% Cost to income 3 32.9% 46.5% 37.3% 33.0% 44.3% 37.5% Cost of risk 4 0.4% 8.5% 1.1% 0.7%
Slide 31: Ratio definitions
Ratio definitions 1. Return on average total equity (ROE) equals profit attributable to owners divided by the monthly average of total shareholder s’ equity attributable to the PLC’s equity holders for the same period; annualised where applicable. 2. Return on average total assets (ROA) equals profi
Slide 32: Glossary
Glossary Terminology Definition CBU Central Bank of Uzbekistan Consumer loans Unsecured loans to individuals Average daily active users divided by monthly active users. TBC Group figure includes TBC’s digital channels in Georgia, as DAU/MAU well as those at TBC UZ and Payme Digital daily active user
Slide 33: Contact Investor Relations
CONTAC T INVESTO R RELATIONS Andrew Keeley Anna Romelashvili Investor Relations Director of Investor Relations Head of Investor Relations Department E -mail: AKeeley@tbcbank.com.ge E -mail: ARomelashvili@tbcbank.com.ge E -mail: IR@tbcbank.com.ge Tel: +44 (0) 7791 569834 Tel: +(995 ) 577 20 52 90 Tel