REG-TCS Group Holding PLC Statement on Tinkoff Bank's RAS Financial Highlights for January - August 2021

TCS HoldingAnnouncement

29/09/2021 10:00

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   TCS Group Holding PLC (TCS)
   Statement on Tinkoff Bank's RAS Financial Highlights for January - August
   2021

   29-Sep-2021 / 11:55 MSK
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Statement on Tinkoff Bank's RAS Financial Highlights for January - August
   2021

   Moscow, Russia - 29 September 2021. TCS Group Holding PLC (LI: TCS, MOEX:
   TCSG) (the "Group"), Russia's leading provider of online financial and
   lifestyle services via its Tinkoff ecosystem, today announces Tinkoff Bank's
   unaudited RAS financial highlights for January - August 2021.

    

   For the eight months of 2021, net income stood at RUB 37.4bn versus RUB
   22.9bn in January - August 2020.

    

   It should be noted that the RAS net income figure is not a reliable indicator
   of IFRS net income for the same period. There is a very low correlation
   between financial results under the two reporting standards as a result of
   significant accounting differences. Therefore, RAS figures should not be used
   as the basis for conclusions on forthcoming IFRS results. 

    

   The gross loan portfolio amounted to RUB 593bn representing an increase
   of 52% y-o-y. The net loan portfolio amounted to RUB 507bn having increased
   by 60% y-o-y and constituted 52% of total assets (44% at year-end 2020). 

    

   Retail customer accounts stood at RUB 644bn. Tinkoff Bank continued to retain
   substantial liquidity: the CBR N2 ratio stood at 85% (minimum requirement:
   15%), and the CBR N3 ratio was 122% (minimum requirement: 50%). Retail
   customer accounts constituted 79% of total liabilities.

    

   Total assets increased by 43% y-o-y to RUB 970bn.

    

   As of 1 September 2021, total capital including retained profits (based on
   Form 123) amounted to RUB 151.2bn. The CBR N1 capital adequacy ratio was 12%.
   Core Capital Adequacy Ratio (N1.1) was 8.5% and Main Capital Adequacy Ratio
   (N1.2) was 10.3%.

    

    

   Note on RAS results

    

   Please note that the figures in this press release are calculated in
   accordance with Tinkoff Bank's internal methodology which is available
   at:               

   http://static.tinkoff.ru/documents/eng/investor-relations/ras-methodology.pdf

    

   RAS results are not a reliable indicator of IFRS results due to significant
   accounting differences that make a direct read-across from RAS to IFRS
   results impossible. The main differences between RAS and IFRS are:

     • Consolidated results under IFRS include a number of additional items and
       results of its subsidiaries
     • Accrual of expenses under IFRS
     • Timing differences in accounting for restructured loans ('instalments')
       and loans going through courts
     • The effect from the revaluation of currency derivative instruments
     • The effect of deferred income tax.

    

    

   For enquiries:
                                  Tinkoff
   Tinkoff
                                  Larisa Chernysheva
   Artem Lebedev                  IR Department
   PR Department
                                  + 7 495 648-10-00 (ext. 2312)
   + 7 495 648-10-00 (ext. 2202)
                                  Neri Tollardo                  
   Alexandr Leonov
                                  +44 7741 078383
   + 7 495 648-10-00 (ext. 35738)
                                   2 ir@tinkoff.ru
    1 pr@tinkoff.ru
                                   

    

   TCS Group Holding PLC

   TCS Group Holding  PLC is  an innovative provider  of online  retail and  SME
   financial services.  It includes  Tinkoff Bank,  its mobile  virtual  network
   operator Tinkoff  Mobile, Tinkoff  Insurance,  its asset  management  company
   Tinkoff Capital, Tinkoff Software DC, a network of development hubs in  major
   Russian cities,  and Tinkoff  Education. The  Group is  currently  developing
   Tinkoff ecosystem, which offers financial and lifestyle services.

    

   The Group was  founded in 2006  by Russian entrepreneur  Oleg Tinkov and  has
   been listed on the London Stock Exchange since October 2013.

    

   The Group's key  business is Tinkoff  Bank, a fully  online bank that  serves
   over 16 mn customers and forms the core of the Tinkoff ecosystem. Tinkoff  is
   the 3rd largest retail bank in Russia in terms of active client-base.

    

   Tinkoff Bank is the second largest player in the Russian credit card  market,
   with a share of  14.3%. The 2Q'21  IFRS net profit of  TCS Group Holding  PLC
   amounted to RUB 16.1 bn. The ROE was 46.1%.

    

   With no branches,  the Group  serves all  its customers  remotely via  online
   channels and a cloud-based call centre. The centre is staffed by over  10,000
   employees, making it one of the largest in Europe. To ensure smooth  delivery
   of the Group's products,  the Group has a  nationwide network of over  10,000
   representatives.

    

   Global Finance named Tinkoff Bank the world's Best Consumer Digital Bank in
   2020 and 2018, and the Best Consumer Digital Bank in Russia in 2020, 2019,
   2018, 2016 and 2015. Tinkoff was also named the Best European Retail Bank of
   the Year by Retail Banker International in 2020. In 2021, the Banker
   recognised Tinkoff Bank as Russia's Best-Performing Bank. The bank's mobile
   app has been consistently praised by local and global independent experts as
   the best of its kind (in 2013, 2014, 2015, 2016 by Deloitte and in 2018 by
   Global Finance).

    

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   ISIN:          US87238U2033
   Category Code: MSCL
   TIDM:          TCS
   LEI Code:      2534000KL0PLD6KG7T76
   Sequence No.:  123177
   EQS News ID:   1236739


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:pr@tinkoff.ru
   2. mailto:ir@tcsbank.ru


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