STRATEGIC EXPANSION INTO SME BANKING: TBC BANK UZBEKISTAN'S MARKET DEVELOPMENT IN AN EMERGING ECONOMY
Keywords:
Keywords: SME banking, TBC Bank Uzbekistan, strategic market expansion, digital financial services, Ansoff Matrix, PESTEL analysis, emerging market financial institutions, market development strategy, digital transformation, financial inclusionAbstract
This empirical investigation examines the strategic market entry and
development initiatives of TBC Bank Uzbekistan within the small and medium
enterprise (SME) banking sector of an emerging economy. Following its 2020
establishment as a digital-only financial institution, TBC Bank initially concentrated
on retail clientele before implementing a significant strategic pivot toward the SME
segment in 2024. Employing multiple theoretical frameworks including Ansoff's
Growth Matrix, comprehensive PESTEL analysis, and comparative institutional
benchmarking methodologies, this study systematically evaluates the
multidimensional opportunities, inherent risks, and preliminary outcomes associated
with this strategic reorientation. The research findings demonstrate how digital
onboarding architectures, integrated transaction platforms, and ecosystem synergies
(particularly through Payme integration) can facilitate SME banking penetration
despite infrastructural and institutional limitations characteristic of underdeveloped
financial markets. The empirical results indicate that while significant challenges
persist in credit risk assessment methodologies and client acquisition processes, the
strategic repositioning demonstrates strong alignment with national economic
development priorities and positions TBC Bank as a potential market leader in
technology-driven enterprise financial services within the Uzbek banking sector.
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