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TBCG - TBC Bank News Story

995p -19.0  -1.9%

Last Trade - 10:33am

Sector
Financials
Size
Mid Cap
Market Cap £559.3m
Enterprise Value £1.40bn
Revenue £312.8m
Position in Universe 504th / 1807

BRIEF-TBC Bank Says National Bank Of Georgia Sees FY Growth To 5.5Pct

Mon 20th August, 2018 7:27am
Aug 20 (Reuters) - TBC Bank Group PLC  TBCG.L :
    * HY UNDERLYING NET PROFIT AMOUNTED TO GEL 217.4 MILLION (1H
2017:
GEL 184.5 MILLION)
    * HY REPORTED NET PROFIT AMOUNTED TO GEL 200.0 MILLION (1H
2017:
GEL 176.4 MILLION)
    * HY TOTAL OPERATING INCOME FOR PERIOD WAS UP BY 21.1PCT YOY
TO
GEL 497.1 MILLION
    * HY NET INTEREST MARGIN (NIM) STOOD AT 7.0PCT (1H 2017:
6.7PCT)
    * HY RISK ADJUSTED NET INTEREST MARGIN (NIM) STOOD AT 5.3PCT
(1H
2017: 5.2PCT)
    * HY NET LOANS TO DEPOSITS + IFI FUNDING STOOD AT 89.5PCT
AND NET
STABLE FUNDING RATIO (NSFR) STOOD AT 127.8PCT
    * GROSS LOANS AND ADVANCES TO CUSTOMERS STOOD AT GEL 8,896
MILLION
AS OF 30 JUNE 2018, UP BY 20.4PCT YOY
    * ALSO CONSIDER ENTERING OTHER MARKETS TO FURTHER INCREASE
OUR
BANKING OPERATIONS BEYOND GEORGIA
    * UPGRADE OUR MEDIUM TERM COST TO INCOME GUIDANCE FROM BELOW
40PCT
TO BELOW 35PCT
    * TOTAL CUSTOMER DEPOSITS STOOD AT GEL 7,933 MILLION AS OF
30 JUNE
2018, UP BY 19.0PCT YOY
    * HIGHER THAN EXPECTED GROWTH LED NATIONAL BANK OF GEORGIA
TO
REVISE GROWTH FORECAST TO 5.5PCT FOR 2018, UP FROM PREVIOUS
PROJECTION OF 4.8PCT
    * RECENT DEVELOPMENTS IN TURKEY ARE EXPECTED TO HAVE
NEGATIVE
IMPACT ON ECONOMIC GROWTH IN GEORGIA

Source text for Eikon:  ID:nRST2606Ya 
Further company coverage:  TBCG.L 

 ((Reuters.Briefs@thomsonreuters.com;))
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