TBC Bank Group PLC (LSE: TBCG), the FTSE 250 financial services group operating across Georgia and Uzbekistan, has announced the commencement of a share buyback programme with an aggregate value of up to GEL 50 million. The Board of Directors has approved the open-market purchases, which are intended to reduce the company's share capital through cancellation. Separately, TBC Bank has also committed up to a further GEL 50 million to fund share acquisitions through its Employee Benefit Trust, with those purchases expected to begin on 9 November 2026. The dual programmes, both executed via broker Investec Bank PLC, signal a significant capital return and employee incentive initiative for investors to monitor.

Key Points

  • TBC Bank Group PLC (LSE: TBCG) is a FTSE 250-listed financial services group serving 7.6 million digital monthly active users in Georgia and Uzbekistan
  • The Board has approved a share buyback programme of up to GEL 50 million, with purchases commencing immediately and conducted in the open market via Investec Bank PLC
  • The buyback programme is capped at 5,572,679 shares, as approved at the Annual General Meeting held on 19 May 2026, and is expected to run until 28 February 2027
  • Investors should watch for regulatory disclosures on individual buyback transactions and the commencement of the GEL 50 million Employee Benefit Trust share purchase from 9 November 2026

TBC Bank Board Approves GEL 50 Million Open-Market Buyback for Capital Reduction

TBC Bank Group's Board of Directors has approved a share buyback programme under which shares with an aggregate value of up to GEL 50 million will be purchased in the open market and subsequently cancelled, thereby reducing the company's issued share capital. The repurchase authority was granted at TBC PLC's Annual General Meeting on 19 May 2026, and the number of shares acquired will not exceed the AGM-approved limit of 5,572,679 ordinary shares. The programme is being conducted in accordance with the UK Listing Rules and the applicable provisions of UK-incorporated EU market abuse regulations.

Investec Bank PLC to Execute Buyback as Riskless Principal Until February 2027

TBC PLC has entered into an arrangement with Investec Bank PLC, under which Investec will act as riskless principal to purchase shares on the company's behalf. The programme commenced on the date of the announcement and is expected to conclude on 28 February 2027. During any closed periods, neither TBC PLC nor its directors may make changes to the programme, which will be executed entirely at Investec's discretion. The announcement also notes that on any given trading day, buybacks may exceed 25% of average daily trading volume, meaning TBC PLC will not always benefit from the MAR Article 5(1) safe harbour exemption.

Separate GEL 50 Million Employee Benefit Trust Purchase to Fund Future Share Awards

Alongside the cancellation-focused buyback, TBC Bank has committed to fund its Employee Benefit Trust with up to GEL 50 million for the acquisition of shares through on-market transactions. These purchases, also to be executed by Investec acting as the EBT's broker, are expected to commence from 9 November 2026. The purpose of this separate programme is to satisfy future employee share awards. The announcement states that the EBT acquisitions will be undertaken independently of the main buyback programme, at the instruction of the EBT trustees.

TBC Bank's Georgia and Uzbekistan Digital Franchise Underpins Shareholder Return Strategy

TBC Bank Group serves 7.6 million digital monthly active users across Georgia and Uzbekistan, operating two distinct models: TBC Georgia, a digitally-led retail, MSME, and corporate banking franchise with a nationwide presence, and TBC Uzbekistan, a fully digital financial ecosystem targeting consumers and businesses in Central Asia. Founded in Georgia in 1992 and entering Uzbekistan in 2020, the group is listed on the London Stock Exchange and is a constituent of the FTSE 250, FTSE4Good, and MSCI United Kingdom Small Cap indices. Investors may be watching whether the buyback programme signals ongoing confidence in capital generation across both markets.