TBC Bank Group PLC

LSE:TBCG Stock Report

Market Cap: UK£2.5b

TBC Bank Group Future Growth

Future criteria checks 4/6

TBC Bank Group is forecast to grow earnings and revenue by 14% and 18.3% per annum respectively. EPS is expected to grow by 13.7% per annum. Return on equity is forecast to be 23.3% in 3 years.

Key information

14.0%

Earnings growth rate

13.71%

EPS growth rate

Banks earnings growth10.1%
Revenue growth rate18.3%
Future return on equity23.32%
Analyst coverage

Low

Last updated25 Jun 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 23

TBCG: Dividend Payouts Will Support Future Upside Potential

Analysts have kept their fair value estimate for TBC Bank Group broadly steady at about £55 per share, with a slightly lower assumed future P/E and minor tweaks to the discount rate and long term profitability assumptions informing the latest price target narrative. What's in the News for TBC Bank Group TBC Bank Group appointed Guy Stevens as Group Chief Financial Officer, effective July 13, 2026.
Narrative Update • Jun 05

TBCG: Dividend Commitment And New Finance Leadership Will Support Future Upside

Analysts have nudged their fair value estimate for TBC Bank Group slightly higher from £54.78 to £55.00, reflecting small adjustments to the discount rate and future P/E assumptions, while keeping revenue growth and profit margin expectations broadly in line with prior views. What's in the News TBC Bank Group plans to pay a first quarter 2026 dividend of GEL 1.75 per share, with the dividend paid in £ to shareholders on the register as of 14 August 2026, and a scheduled payment date of 11 September 2026.
Narrative Update • May 15

TBCG: Dividend Continuity And Leadership Transition Will Support Future Upside

Analysts have trimmed their fair value estimate for TBC Bank Group from £55.35 to £54.78, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E multiples. What's in the News TBC Bank Group PLC plans to appoint Guy Stevens as Group Chief Financial Officer, effective 13 July 2026.
Narrative Update • Apr 23

TBCG: Steady Fair Value And 2025 Dividend Plan Will Shape Outlook

Analysts have maintained their fair value estimate for TBC Bank Group at £55.35 per share, with only small tweaks to inputs such as the discount rate, revenue growth outlook and future P/E assumption. These adjustments support a steady price target rather than a material reset.
Narrative Update • Apr 08

TBCG: Maintained Fair Value And 2025 Dividend Proposal Will Support Upside

Analysts have made a small upward adjustment to their £55.35 price target on TBC Bank Group, citing a slightly lower discount rate and a modestly reduced future P/E assumption. Together, these changes refine, rather than overhaul, their view of the shares.
Narrative Update • Mar 25

TBCG: Maintained Fair Value And 2025 Dividend Proposal Will Support Upside

Analysts have kept their fair value view on TBC Bank Group broadly unchanged, with a refined discount rate and a slightly lower future P/E assumption contributing to a revised price target of £55.35. What's in the News The Board of Directors is recommending a final dividend for the year 2025 of GEL 3.87 per TBC Bank Group PLC share, subject to shareholder approval (company announcement).
Narrative Update • Mar 11

TBCG: Higher Dividend Outlook Will Support Future Share Price Upside

Analysts have lifted their price target for TBC Bank Group to £55.35 from £54.03, citing updated assumptions around revenue growth, profit margins, and forward P/E expectations. What's in the News The Board of Directors is recommending a final dividend for the year 2025 of GEL 3.87 per TBC Bank Group PLC share, subject to shareholder approval (company announcement).
Narrative Update • Feb 25

TBCG: Higher Margin Outlook And Dividend Plan Will Support Future Upside

Analysts have revised their price target for TBC Bank Group from £50.77 to £54.03, citing updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E as key factors behind the change. What's in the News The Board of Directors of TBC Bank Group PLC is recommending a final dividend for the year 2025 of GEL 3.87 per share, subject to shareholder approval (company announcement).
Narrative Update • Feb 09

TBCG: Improved Profitability And Lower P/E Will Support Future Upside

Analysts have trimmed their price target on TBC Bank Group to US$50.77 from US$54.89, reflecting updated assumptions for slightly different revenue growth, profit margins and future P/E levels in their models. Valuation Changes Fair Value Estimate reduced from US$54.89 to US$50.77, a small downward adjustment in the modelled target.
Analysis Article • Jan 31

Do TBC Bank Group's (LON:TBCG) Earnings Warrant Your Attention?

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Narrative Update • Jan 26

TBCG: Stable Fair Value And Slightly Lower Risk Assumptions Will Support Upside

Narrative update on TBC Bank Group The updated analyst price target for TBC Bank Group now stands at £54.89, with analysts pointing to only small adjustments in discount rate assumptions and future P/E expectations as key drivers of the revised view. Valuation Changes Fair Value: unchanged at £54.89 per share, indicating no revision to the central valuation estimate.
Narrative Update • Jan 12

TBCG: Stable Fair Value And Lower Discount Rate Will Support Bullish Outlook

Narrative Update The analyst price target for TBC Bank Group has been kept broadly aligned with prior fair value estimates around £54.89, with a slightly lower discount rate and marginally adjusted future P/E assumptions prompting analysts to refine, rather than rethink, their outlook on the shares. Valuation Changes Fair Value: The fair value estimate remains unchanged at £54.89 per share.
Narrative Update • Dec 23

TBCG: Higher Future Multiple Will Support Bullish Outlook Despite Softer Margins

Analysts have slightly reduced their price target for TBC Bank Group to approximately $54.89 from about $56.17, reflecting modestly slower projected revenue growth and a marginally lower profit margin outlook, partially offset by a higher expected future P/E multiple. Valuation Changes The fair value estimate has decreased slightly from £56.17 to £54.89 per share, reflecting a modest downward revision in the intrinsic valuation.
Narrative Update • Dec 08

TBCG: Higher Future Multiple Will Support Bullish Outlook Despite Softer Margins

Analysts have slightly reduced their price target on TBC Bank Group, trimming fair value by around 4 percent to approximately $56.17, as they factor in more conservative assumptions for revenue growth and profit margins, partially offset by a modestly higher expected future P/E multiple. Valuation Changes The fair value estimate has fallen slightly from $58.18 to $56.17 per share, reflecting a modest reassessment of fundamentals.
Narrative Update • Nov 24

TBCG: Stable Margins And Discount Rate Shift Will Sustain Bullish Outlook

Analysts have maintained TBC Bank Group’s fair value estimate at approximately $58.18 per share, citing sustained revenue growth and stable profit margins as key reasons for their unchanged outlook. Valuation Changes The Fair Value Estimate remains unchanged at approximately $58.18 per share.
Narrative Update • Nov 10

TBCG: Sustained Revenue Momentum And Rising Discount Rate To Drive Future Upside

Narrative Update: TBC Bank Group Analyst Price Target Revised Analysts have lowered their price target for TBC Bank Group from $59.88 to $58.18. This change reflects slightly reduced fair value estimates due to updated forecasts for profit margin and discount rate, despite continued optimism around revenue growth.
Narrative Update • Aug 27

Digital Banking Expansion In Uzbekistan And Georgia Will Unlock Opportunities

TBC Bank Group’s consensus price target has been revised upward, primarily reflecting a sharp decrease in its forecasted future P/E multiple while revenue growth expectations remain steady, resulting in an increased fair value from £57.09 to £59.11. What's in the News Declared a second quarter 2025 dividend of GEL 1.75 per share, payable in Pounds Sterling.
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New Narrative • Feb 17

Digital Banking Expansion In Uzbekistan Will Boost Customer Engagement And Efficiency

Significant growth potential in Uzbekistan due to strong loan growth and digital banking investment driving enhanced customer engagement and cost efficiency.
Analysis Article • Jan 11

Is Now The Time To Put TBC Bank Group (LON:TBCG) On Your Watchlist?

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
Analysis Article • Sep 15

Does TBC Bank Group (LON:TBCG) Deserve A Spot On Your Watchlist?

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Analysis Article • May 31

With EPS Growth And More, TBC Bank Group (LON:TBCG) Makes An Interesting Case

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article • Feb 04

With EPS Growth And More, TBC Bank Group (LON:TBCG) Makes An Interesting Case

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
Analysis Article • Jul 26

With EPS Growth And More, TBC Bank Group (LON:TBCG) Makes An Interesting Case

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Earnings and Revenue Growth Forecasts

LSE:TBCG - Analysts future estimates and past financials data (GEL Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20285,2122,110N/AN/A4
12/31/20274,4771,830N/AN/A5
12/31/20263,8751,581N/AN/A5
3/31/20263,0571,441N/AN/AN/A
12/31/20252,9581,397-2,377-1,992N/A
9/30/20252,8361,344N/AN/AN/A
6/30/20252,7771,324-4,075-3,762N/A
3/31/20252,7081,308N/AN/AN/A
12/31/20242,6251,284-3,864-3,524N/A
9/30/20242,5111,245N/AN/AN/A
6/30/20242,3811,204-2,126-1,797N/A
3/31/20242,2891,168N/AN/AN/A
12/31/20232,1951,124-2,123-1,860N/A
9/30/20232,1731,054N/AN/AN/A
6/30/20232,1471,074-1,977-1,750N/A
3/31/20232,0201,019N/AN/AN/A
12/31/20221,940995-1,607-1,381N/A
9/30/20221,757974N/AN/AN/A
6/30/20221,588860-1,879-1,728N/A
3/31/20221,585874N/AN/AN/A
12/31/20211,480801-1,722-1,559N/A
9/30/20211,332703-623-484N/A
6/30/20211,236649-1,221-1,039N/A
3/31/20211,049526-991-821N/A
12/31/2020801318-1,110-946N/A
9/30/2020865378-2,062-1,889N/A
6/30/2020842352-1,710-1,566N/A
3/31/2020845347-1,925-1,785N/A
12/31/20191,038538N/A-1,396N/A
9/30/20191,003508N/A-1,456N/A
6/30/2019978490N/A-1,233N/A
3/31/2019961473N/A-970N/A
12/31/2018925435N/A-1,448N/A
9/30/2018861400N/A-1,379N/A
6/30/2018811379N/A-978N/A
3/31/2018769355N/A-936N/A
12/31/2017752354N/A-1,188N/A
9/30/2017752347N/A-1,559N/A
6/30/2017719331N/A-1,577N/A
3/31/2017682335N/A-1,700N/A
12/31/2016628298N/A-1,085N/A
9/30/2016576275N/AN/AN/A
6/30/2016548256N/A-277N/A
3/31/2016528229N/A167N/A
12/31/2015500216N/A-184N/A
9/30/2015463190N/AN/AN/A
6/30/2015452185N/AN/AN/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TBCG's forecast earnings growth (14% per year) is above the savings rate (3.4%).

Earnings vs Market: TBCG's earnings (14% per year) are forecast to grow faster than the UK market (11.4% per year).

High Growth Earnings: TBCG's earnings are forecast to grow, but not significantly.

Revenue vs Market: TBCG's revenue (18.3% per year) is forecast to grow faster than the UK market (4.6% per year).

High Growth Revenue: TBCG's revenue (18.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: TBCG's Return on Equity is forecast to be high in 3 years time (23.3%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/26 15:50
End of Day Share Price 2026/06/26 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

TBC Bank Group PLC is covered by 10 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ivan BokhmatBarclays
Andreas MarkouBerenberg
Olga VeselovaBofA Global Research