TBC Bank Group (TBCG) investor relations material

Executive summary

• Q2 2026 net profit reached GEL 386 million, up 12% year-on-year, with ROE at 23.6%.

• H1 2026 net profit was GEL 751 million, up 13% year-on-year, with ROE at 23.5%.

• Total operating income increased by 10% year-on-year, driven by robust lending and digital customer growth.

• Digital MAU rose 6% year-on-year to over 7.2 million, with significant gains in Georgia.

• Q2 dividend declared at GEL 1.75 per share, totaling GEL 3.5 per share for H1 2026, up 8% year-on-year.

Financial highlights

• Net interest income increased by 13% year-on-year in Q2; fee and commission income up 14% quarter-on-quarter.

• Group net interest margin at 7.1% in Q2 and H1 2026; Georgia 6.2-6.3%, Uzbekistan 17.1%.

• Cost-income ratio improved to 38.3% in Q2 2026, down nearly 2 percentage points quarter-on-quarter.

• Gross loans rose 12% year-on-year to GEL 31.3 billion; customer deposits up 15% to GEL 26.5 billion.

• EPS for H1 2026 was GEL 13.50, up 13.9% year-on-year.

Outlook and guidance

• On track for 2026-2028 targets: annual loan book growth 15%+, annual ROE 23%+, payout ratio 25-45%.

• Georgia's real GDP growth forecast at 7.4% for 2026; Uzbekistan at 8.2%.

• Inflation in Georgia at 5.8% in June 2026, expected to remain stable; Uzbekistan inflation at 6.4%.

• Uzbekistan loan portfolio expected to grow in H2, with strong Q4 volume growth anticipated.

• Fee and commission income expected to be flattish for the full year, with growth in H2.