By  Trend

Georgian TBC Bank plans to enter the Uzbek market, Trend reports citing the Uzbek media.

Chief Financial Officer of the bank Giorgi Shagidze said that the current reforms in Uzbekistan resemble those of Georgia.

"We went through this and gained very strong knowledge and capabilities that we can bring to the Uzbek market. We can act as a catalyst for the Uzbek banking sector," he said.

TBC plans to enter the Uzbek market with its digital neobank - Space - launched last summer as a mobile service with no branches. Space provides customers with a wide range of retail banking services, including lending, savings products and payment cards.

However, Shagidze said that the Uzbek version of Space will have a physical presence in the form of "next-generation" branches.

He added that the bank, which is expected to launch in Uzbekistan in early 2019, will stay away from the complex corporate sector of the country and will focus on retail customers, as well as representatives of micro, small and medium-sized businesses.