Payme reports revenue and profit growth
TBC Bank, the main owner of the company, indicated that the application is the second largest provider of payment services in Uzbekistan.
Net profit of Payme increased by 89% in 2020, Spot reports referring to TBC Bank.
“I am impressed by the results of Payme’s work, which has grown significantly over the year despite the COVID-19 pandemic,” said CEO of TBC Bank Group PLC Vakhtang Butskhrikidze.
According to him, the application is the second largest provider of payment services in the country with 2.9 million users (63.3% more than in 2019) and more than 65 million transactions (74.4% increase). Revenue was 16.6 million lari (almost $5 million), and net profit was 8.3 million lari (about $2.5 million), with a growth rate of 94.7% and 89.1%, respectively.
To note, TBC Bank bought 51% of Payme’s shares for $5.5 million in April 2019, when the entire company was valued at $10.8 million.
Recommended
List of streets and intersections being repaired in Tashkent published
SOCIETY | 19:12 / 16.05.2024
Uzbekistan's flag flies high on Oceania's tallest volcano
SOCIETY | 17:54 / 15.05.2024
New tariffs to be introduced in Tashkent public transport
SOCIETY | 14:55 / 05.05.2023
Onix and Tracker cars withdrawn from sale
BUSINESS | 10:20 / 05.05.2023
Latest news
-
Saida Mirziyoyeva honors parents and mentor of award-winning students in Abu Dhabi
SOCIETY | 19:46 / 20.01.2025
-
National Agency for Social Protection addresses inquiries on social cards
SOCIETY | 19:43 / 20.01.2025
-
309 corruption-related crimes committed by assistant governors in Uzbekistan in 2024
POLITICS | 19:41 / 20.01.2025
-
eBay officially registers as a taxpayer in Uzbekistan
BUSINESS | 19:38 / 20.01.2025
Related News
15:49 / 07.11.2024
Uzbekistan’s fintech companies disclose earnings amid regulatory changes
11:31 / 22.08.2020
Payment for public services becomes fully transparent
21:06 / 20.04.2020
TBC Bank receives license from Central Bank
13:21 / 22.01.2020