TBC Bank Group, the London-listed Georgian lender, reported a record third-quarter profit and unveiled a share buyback programme, sending its shares sharply higher.

Net profit reached GEL 404 million (£115 million) in the three months to September, up 10 per cent on a year earlier, with a return on equity of 23.2 per cent — the 15th consecutive quarter above 23 per cent. Total operating income rose 10 per cent to GEL 961 million, driven by a 13 per cent uplift in net interest income to GEL 700 million, while the net interest margin ticked up to 7.4 per cent.

Gross loans increased 16 per cent on a constant-currency basis to GEL 32.5 billion, and customer deposits grew 14 per cent to GEL 27.6 billion. Asset quality remained stable, with group non-performing loans at 3.3 per cent.

Georgia drives the growth

Georgia remained the main earnings driver, generating 96 per cent of group net profit. Net profit in Georgia rose 17 per cent to GEL 406 million, with a return on equity of 24.8 per cent — above the group total because of losses and minority effects elsewhere in the business. Chief executive Vakhtang Butskhrikidze said the third quarter had been "strong" and pointed to dynamic economic growth in both Georgia and Uzbekistan, where real GDP grew 6.8 per cent and 8 per cent respectively in the quarter.

Buyback and dividend

The board declared a quarterly dividend of GEL 1.75 per share and launched a GEL 50 million (about $19 million) share buyback and cancellation programme. For the first nine months, net profit reached GEL 1,155 million, up 12 per cent, with a return on equity of 23.4 per cent. The group had 7.59 million digital monthly active users in September, up 10.7 per cent year on year. The shares closed 1.8 per cent higher at 4,856p, after trading as much as 7 per cent higher earlier in the day.

Sources: TBC Bank Group, 3Q and 9M 2026 Results Report (RNS); Hargreaves Lansdown / Sharecast; CFOtech; citybiz.