Oliver Hughes New Head of International Operations

TBC Bank Group PLC

13 September 2023

 

Oliver Hughes Appointed as Head of International Operations

TBC Bank Group PLC ("TBC PLC") is pleased to announce the appointment of Oliver Hughes as Head of International Operations of the Group, effective from September 14, 2023. Mr Hughes has also been appointed to the Executive Committee of TBC PLC. Nika Kurdiani will become CEO of the Group's business operations in Uzbekistan and will remain as a member of the Executive Committee of TBC PLC.

Mr Hughes is a renowned fintech entrepreneur and manager with over 25 years of experience building and scaling up fintech businesses in Emerging Markets. In particular, he spent 15 years as the CEO of Tinkoff Group, during which time he led the evolution of the company from launch to being one of the largest and most profitable digital banks in the world.

Vakhtang Butskhrikidze, CEO, TBC Bank, commented: "I am delighted to welcome Oliver Hughes to lead our international expansion strategy. I strongly believe that his extensive experience in the development of fintech businesses will prove extremely valuable to TBC and will play a crucial role in our future endeavours, helping to take our company to new heights."

Mr Hughes commented: "I am excited to be joining the TBC team to lead the build out of their international operations. TBC already has a great fintech business in Uzbekistan and I look forward to working with Nika and the team to scale this up significantly. There is a huge opportunity in Uzbekistan and this digital banking strategy can potentially be replicated in other international markets in the future."

For further enquiries, please contact:

Director of Investor Relations and International Media

Andrew Keeley

Or

Head of Investor Relations

Anna Romelashvili

[e-mail]

About TBC Bank Group PLC ("TBC PLC")

TBC Bank Group PLC ("TBC PLC") is a public limited company registered in England and Wales. TBC PLC is the parent company of JSC TBC Bank ("TBC Bank") and a group of companies that principally operate in Georgia in the financial sector. TBC PLC also offers non-financial services via TNET, the largest digital ecosystem in Georgia. Since 2019, TBC PLC has expanded its operations into Uzbekistan by operating fast growing retail digital financial services in the country. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of the FTSE 250 Index. It is also a member of the FTSE4Good Index Series and the MSCI United Kingdom Small Cap Index.

TBC Bank, together with its subsidiaries, is a leading universal banking group in Georgia, with a total market share of 38.8% of customer loans and 40.1% of customer deposits as of 30 June 2023, according to data published by the National Bank of Georgia.

 

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