TBC Bank Group PLC (TBCG) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Recording in progress. Welcome everyone to the TBC Group First Quarter 2026 IFRS Results Conference Call. My name is Lucy and I'll be your moderator today. If you wish to ask a question during the webinar, please use the raise hand button if you've joined up the call via Zoom. If you've joined us on the phone, please press star followed by one on your telephone keypad. Alternatively, you can use the Q&A chat box to submit a text question. It is now my pleasure to hand over to Andrew Keeley, Director of Investor Relations, to begin. Please go ahead. Thanks very much, Lucy, and thank you, everybody, for joining our first quarter results call today. As usual, I'm joined on the call by our group CEO, Vakhten Boutskere-Kidze, our group CFO, Georgi Magrilishvili, and our head of international, Oliver Hughes. We'll start with a presentation, and then we'll go to Q&A. And with that, I'll hand over to Vakhten. Thank you. Thank you, Andrew. Hello everyone and thank you for joining us today. I am pleased to present our results for the first quarter. We made a good start to the year delivery. Group's net profit of €365 million up by 15% year-on-year, with return of equity of 23.4%. Georgia had another strong and consistent quarter, with net profit of €362 million up by 14% year-on-year, and return of equity of 24.1%, helped by a decent start to the year in lending as loans rose by 2% year-on-year. In Uzbekistan, as we had previously guided, we continued to recalibrate our loan book in the first quarter, which impacted our revenues and overall profitability, but that profit was still up by 14% year-on-year, with double-digit return of equity. But we continue to successfully diversify our loan book, including building out our business lending with more than $150 million portfolio ...