Tbc Bank Group Plc · LSE:TBCG
Tbc Bank — Q3 2025 Earnings Presentation
32 slides from Tbc Bank's earnings presentation, Nov 6, 2025
Slide 1: 3Q and 9M 2025 Results Call Presentation
3Q and 9M 2025 Results Call Presentation Unaudited IFRS consolidated figures
Slide 2: Disclaimer
DISCLAIMER By attending the meeting where this presentation is made, or by reading this document, disseminate any updates or revisions to any forward-looking statements contained in you agree to be bound by the conditions set our below. The information, statements the Presentation to reflect actual
Slide 3: Business and Strategic Update
Business and Strategic Update
Slide 4: 3Q 2025: Record Quarterly Earnings
3Q 2025: RECORD QUARTERLY EARNINGS Russia Ukraine Kazakhstan Group Georgia Uzbekistan Uzbekistan GEL 368 mln GEL 346 mln GEL 41 mln Georgia +6% YoY +2% YoY +30% YoY Black Sea Caspian Sea Net profit Net profit Net profit Armenia Azerbaijan Turkmenistan Turkey 24.4% 24.1% 23.3% ROE ROE ROE Strong and
Slide 5: TBC Georgia
n't i TAT Te] ep a ew a KET TE en
Slide 6: Georgia's Economy Remains Robust
GEORGIA’S ECONOMY REMAINS ROBUST Real GDP Growth 10.6 11.0 9.4 7.8 7.7 7.3 5.0 Economic growth in Georgia remains strong at 6.5% in 3Q 2025 and 7.7% on average in the first nine months of the year -6.3 2019 2020 2021 2022 2023 2024 9M 2025 2025 TBC Capital expects Georgia’s real GDP growth at 7.3% i
Slide 7: GFS Continues Generating Mid-20s ROE
GFS CONTINUES GENERATING MID-20s ROE Net profit and ROE 25.2% 500 35.0% Average ROE 27.8% 26.9% 26.5% 450 26.4% 24.7% 24.6% 30.0% 400 24.0% 23.3% 23.9% 24.1% 25.0% 350 20 .0% 3.8% 300 15.0 % 250 10.0% 20 0 150 298 298 289 285 324 338 331 318 332 346 5.0 % Average ROA 0.0% 100 -5.0% 50 0 -10 .0 % 15%
Slide 8: Loans & Deposits Up by c10%; Strong Growth in Unsecured Consumer Loans
LOANS & DEPOSITS UP BY c10%; STRONG GROWTH IN UNSECURED CONSUMER LOANS 1.8 mln Retail gross loans (GEL bln)3 Gross loans CIB Retail +12% total retail portfolio YoY growth +4% Monthly active 6.8 7.1 26.1 bln 36% customers (MAC) 39% GEL +42% 2.3 1.6 Total loan + 9% YoY3 2% 23% market share1 37% Other4
Slide 9: 1.2 Million MAU, with High Customer Engagement
1.2 MILLION MAU, WITH HIGH CUSTOMER ENGAGEMENT Digital users (thousands) 46% 47% 47% 47% 46% 1,154 1,196 More of our customers are switching to 1,106 1,000 1,050 digital and this increases user engagement 494 521 545 555 456 Digital MAU penetration of 66%, up by Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 6p
Slide 10: TBC Uzbekistan
TBC Uzbekistan
Slide 11: Uzbek Economic Growth Remains Strong
UZBEK ECONOMIC GROWTH REMAINS STRONG Real GDP Growth 8.0 7.6 8.0 5.0 6.5 6.0 6.3 Economic growth in Uzbekistan remains very 1.6 strong at 8.2% in 3Q 2025 and 7.6% on average in the first nine months of the year 2019 2020 2021 2022 2023 2024 9M 2025 2025 TBC Capital expects Uzbekistan’s real GDP Annu
Slide 12: TBC Uzbekistan: Strong Balance Sheet Growth Feeds into Rising Revenues
TBC UZBEKISTAN: STRONG BALANCE SHEET GROWTH FEEDS INTO RISING REVENUES Unique registered users (mln) Gross loans (GEL mln) USD 973 Total operating income (GEL mln) GEL 2,636 USD 70 21.8 2,464 20.8 GEL 189 19.7 2,150 170 18.4 161 17.1 15.9 1,758 137 14.8 13.4 1,374 111 12.2 1,202 11.3 91 10.3 970 9.4
Slide 13: Building One of Uzbekistan's Most Recognized Banking Brands
BUILDING ONE OF UZBEKISTAN’S MOST RECOGNIZED BANKING BRANDS Customers increasingly choose TBC for Scaling our market leading digital Top-of-mind banking brand1 daily banking needs banking ecosystem 723k / 502k #1 #3 • Announced the acquisition of a majority Salom debit cards issued /funded (cumulati
Slide 14: Increasing Market Share and Contribution to the Group
INCREASING MARKET SHARE AND CONTRIBUTION TO THE GROUP Retail loans market share 3Q 2025 Uzbekistan contribution in Group (% share) Net profit 4.9% 4.0% 11% 2.4% 1.4% GEL 368 mln 0.5% Group 0.0% net profit Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Sep-25 Retail deposits market share Total operating income 4
Slide 15: TBC Uzbekistan Targets Update
TBC UZBEKISTAN TARGETS UPDATE • We have achieved a lot over the past six years since entering Uzbekistan. Our registered users have increased tenfold to 22 mln, we have built a USD 1 bln loan book and a diverse, fully digital, product suite of financial services. Our digital bank broke even in just
Slide 16: 2025 Group Targets Update
2025 GROUP TARGETS UPDATE • The performance of the overall Group remains strong and resilient. Our ROE has consistently been running ahead of our 23% target, and since the start of 2023, we have almost doubled our digital MAU to close to 7 mln as more customers choose TBC. • Over the past 3 years, w
Slide 17: 3Q and 9M 2025 Group Financial Results
3Q and 9M 2025 Group Financial Results
Slide 18: Strong Profitability with >24% ROE in 3Q
STRONG PROFITABILITY WITH >24% ROE IN 3Q Net profit (GEL mln) ROE +6% -2.2pp +6% +6% -2.3pp +0.1pp 26.2% 26.6% 23.9% 24.3% 24.4% 973 1,033 347 346 368 9M 2024 9M 2025 3Q 2024 2Q 2025 3Q 2025 9M 2024 9M 2025 3Q 2024 2Q 2025 3Q 2025 18 Source: IFRS Group Data
Slide 19: Operating Income Up by 17% YoY in 3Q, Led by 24% YoY NII Growth
OPERATING INCOME UP BY 17% YoY IN 3Q, LED BY 24% YoY NII GROWTH Total operating income (GEL mln) Non-interest income (GEL mln) +17% +3% +21% +6% +16% +6% 2,489 763 2,050 763 880 657 835 754 308 657 253 268 285 268 261 253 261 116 97 117 1,727 1,394 582 612 455 493 372 145 156 151 9M 2024 9M 2025 3Q
Slide 20: NIM Holds Above 7%, Supported by Uptick in Georgia and Rising Uzbekistan Contribution
NIM HOLDS ABOVE 7%, SUPPORTED BY UPTICK IN GEORGIA AND RISING UZBEKISTAN CONTRIBUTION NIM Cost of funding, cost of deposit, loan and asset yields +0.7pp +0.6pp +0.0pp 14.5% 14.7% 14.4% 13.0% 13.2% 14.1% 14.3% 14.0% 12.4% 12.5% 6.8% 6.8% 6.9% 6.0% 6.1% 7.0% 7.1% 7.1% 6.4% 6.4% 5.7% 5.8% 5.8% 5.3% 5.4
Slide 21: Maintaining Stable Cost / Income, Despite Investments in Uzbekistan Growth
MAINTAINING STABLE COST / INCOME, DESPITE INVESTMENTS IN UZBEKISTAN GROWTH Total operating expenses (GEL mln) Cost to income +18% +0.5pp +22% +6% +0.1pp +0.1pp 37.4% 37.5% 37.2% 37.6% 37.7% 934 766 458 314 332 355 280 151 164 131 411 476 149 163 168 9M 2024 9M 2025 3Q 2024 2Q 2025 3Q 2025 9M 2024 9M
Slide 22: Risk Costs Stable QoQ
RISK COSTS STABLE QoQ NPLs Cost of risk 142% 72% 144% 72% 140% 74% 142% 78% 136% 75% +0.8pp +0.9pp +0.0pp 1.6% 1.6% 1.6% 2.7% 2.5% 2.5% 2.2% 2.2% 0.8% 0.7% 30-Sep-24 31-Dec-24 31-Mar-25 30-Jun-25 30-Sep-25 9M 2024 9M 2025 3Q 2024 2Q 2025 3Q 2025 NPLs/Gross loans Total NPLs coverage1 Provision covera
Slide 23: Solid Mid-Teen Balance Sheet Growth
SOLID MID-TEEN BALANCE SHEET GROWTH Gross loans portfolio (GEL bln) Gross loans breakdown, 30 September 2025 +13%/+13%1 +1%/+1%1 Retail CIB 33% 36% GEL 28.7 bln 28.5 28.7 25.3 9% 21% 1% Uzbekistan 30-Sep-24 30-Jun-25 30-Sep-25 Other2 MSME Customer deposits portfolio (GEL bln)3 Customer deposits brea
Slide 24: Retaining Material Capital Buffers
RETAINING MATERIAL CAPITAL BUFFERS GEORGIA UZBEKISTAN 22.9% 20.1% 19.4% 18.5% 18.5% 16.7% 20.0% 17.0% 14.7% 13.0% 10.0% 8.0% CET1 Tier1 Total CET1 Tier1 Total Min. requirements Min. requirements As of 30 September 2025 24 Capital adequacy ratios are calculated for the Bank only
Slide 25: Strong Capital Position and High Profit Generation Enable Us to Increase Capital Returns
STRONG CAPITAL POSITION AND HIGH PROFIT GENERATION ENABLE US TO INCREASE CAPITAL RETURNS Total dividend and share buyback (GEL mln) Total DPS (GEL) +30% CAGR 25% 30% 35% 35% 35% 39% 8.1 7.22 499 5.45 5.00 50 348 393 352 3.66 1.75 50 75 3Q 2025 200 449 1.75 2Q 2025 298 1Q 2025 277 1.50 2021 2022 2023
Slide 26: Q&A
Q&A
Slide 27: Appendix
Appendix
Slide 28: Group: Profit and Loss Statement
GROUP: PROFIT AND LOSS STATEMENT Change Change Change 3Q 2025 2Q 2025 3Q 2024 9M 2025 9M 2024 YoY QoQ YoY GEL mln Net interest income 612 582 493 24% 5% 1,727 1,394 24% Net fee and commission 151 156 145 4% (3%) 455 372 22% income Other operating non-interest 117 97 116 1% 21% 308 285 8% income Tota
Slide 29: Group: Key Ratios
GROUP: KEY RATIOS 3Q 2025 9M 2025 Georgian Georgian Uzbekistan Group Uzbekistan Group financial services financial services ROE1 24.1% 23.3% 24.4% 23.8% 19.1% 23.9% ROA2 3.5% 4.9% 3.3% 3.5% 4.4% 3.3% Cost to income3 34.0% 41.5% 37.7% 33.1% 43.6% 37.5% Cost of risk4 0.8% 9.7% 1.6% 0.8% 10.4% 1.6% NIM
Slide 30: Ratio Definitions
RATIO DEFINITIONS 1. Return on average total equity (ROE) equals profit attributable to owners divided by the monthly average of total shareholders’ equity attributable to the PLC’s equity holders for the same period; annualised where applicable. 2. Return on average total assets (ROA) equals profit
Slide 31: 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 DAU/MAU Georgia, as well as those at TBC UZ and Payme Digital daily active user
Slide 32: Contact Investor Relations
CONTACT INVESTOR 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) 7557 631304 Tel: +(995) 577 20 52 90 Tel: +(99