Declaration of 1Q 2026 Quarterly Dividend

This is a routine dividend notice with minimal insight into TBC Bank’s real performance.

Risk flags

• ●Disclosure risk: The announcement omits all financial performance data—no revenue, profit, or cash flow figures are provided. This lack of transparency prevents investors from assessing the company’s underlying health or the sustainability of its dividend policy.
• ●Operational risk: While market share and user numbers are cited, there is no information on customer quality, loan book risk, or deposit stability. High market share does not guarantee profitability or resilience, especially in volatile markets like Georgia and Uzbekistan.
• ●Comparability risk: The data is presented as point-in-time figures with no historical context or trend analysis. Investors cannot determine whether the company is improving, stagnating, or declining, which is critical for informed decision-making.
• ●Forward-looking risk: Although most claims are realised, the actual dividend payment and currency conversion are still future events. Unexpected regulatory, currency, or operational issues could delay or reduce the payout.
• ●Geographic risk: The company operates in Georgia and Uzbekistan, both of which may present political, regulatory, or currency risks not discussed in the announcement. The lack of commentary on local market conditions is a material omission.
• ●Narrative inflation risk: The announcement uses superlative language such as 'leading digital financial ecosystem' and 'largest mobile-only bank' for TBC Uzbekistan without providing comparative data. This could mislead investors about the true competitive landscape.
• ●Governance risk: The only named individuals are from investor relations, with no mention of executive management or board oversight. This may indicate a lack of direct accountability or strategic signaling in the communication.
• ●Execution risk: The dividend payment process is routine, but any disruption in the exchange rate mechanism or payment logistics could impact shareholders, especially given the cross-currency conversion and multi-jurisdictional operations.

Bottom line

For investors, this announcement is a procedural update about a forthcoming dividend, not a window into TBC Bank Group’s operational or financial strength. The company provides only the minimum required information: the dividend amount, payment mechanics, and a few headline operational statistics. There is no evidence of financial momentum, profitability, or risk management, and no context for how the dividend fits into broader capital allocation or business strategy. The absence of executive commentary or financial statements means investors are left in the dark about the company’s true performance and outlook. The involvement of investor relations personnel is standard and does not signal any particular institutional confidence or risk. To change this assessment, the company would need to disclose detailed financial results, payout ratios, historical trends, and forward-looking guidance. Investors should watch for the actual dividend payment in September 2026, any subsequent financial disclosures, and updates on market share or user growth. This announcement is not a signal to act, but rather a routine event to monitor; it should not be interpreted as evidence of underlying strength or weakness. The single most important takeaway is that, in the absence of substantive financial data, investors should not read too much into this dividend declaration and should demand more transparency before making any investment decisions.

Announcement summary

TBC Bank Group PLC has declared a 1Q 2026 quarterly dividend of GEL 1.75 per TBC PLC share. The dividend will be paid in Pounds Sterling to shareholders on the register as of 14 August 2026, with payment scheduled for 11 September 2026. The applicable exchange rate will be the average rate of the National Bank of Georgia from 17 August 2026 to 21 August 2026. TBC Bank Georgia holds a 37.2% market share of customer loans and 36.9% of customer deposits as of 31 March 2026. TBC Uzbekistan has more than 24 mln registered users.

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