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

TCS HoldingAnnouncement

08/07/2021 17:50

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

   08-Jul-2021 / 19:48 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 - May 2021

   Moscow, Russia - 08 July 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 - May 2021.

    

   For the first five months of 2021, net income stood at RUB 19.2bn versus RUB
   13.2bn in January - May 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 542bn representing an increase
   of 44% y-o-y. The net loan portfolio amounted to RUB 460bn having increased
   by 50% y-o-y and constituted 50% of total assets (44% at year-end 2020). 

    

   Retail customer accounts stood at RUB 581bn. Tinkoff Bank continued to retain
   substantial liquidity: the CBR N2 ratio stood at 67% (minimum requirement:
   15%), and the CBR N3 ratio was 118% (minimum requirement: 50%). Retail
   customer accounts constituted 73% of total liabilities.

    

   Total assets increased by 46% y-o-y to RUB 913bn.

    

   As of 1 June 2021, total capital including retained profits (based on Form
   123) amounted to RUB 128.4bn. The CBR N1 capital adequacy ratio was 11.7%.
   Core Capital Adequacy Ratio (N1.1) was 8.8% and Main Capital Adequacy Ratio
   (N1.2) was 10.7%.

    

    

   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
   Artem Lebedev
   PR Department                  Larisa Chernysheva
                                  IR Department
   + 7 495 648-10-00 (ext. 2202)
                                  + 7 495 648-10-00 (ext. 2312)
   Alexandr Leonov
                                  Andrey Pavlov-Rusinov
   + 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  financial
   services. Its portfolio  includes Tinkoff  Bank, the  mobile virtual  network
   operator Tinkoff Mobile,  Tinkoff Insurance, the  management company  Tinkoff
   Capital,   Tinkoff   Software   DC,    a   network   of   development    hubs
   in Russia's largest cities,  and Tinkoff  Education. The  Group is  currently
   developing the  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 and on the Moscow Exchange.

    

   The Group's largest business is Tinkoff Bank, a fully online bank that serves
   over 13 million customers and represents the core of the Tinkoff ecosystem.

    

   Tinkoff Bank is the second largest player in the Russian credit card  market,
   with a share  of 14.0%. The  2020 IFRS net  income of TCS  Group Holding  PLC
   amounted to RUB 44.2 billion. The ROE was 40.6%.

    

   With no branches,  the Group  serves all  its customers  remotely via  online
   channels and a  cloud-based call  centre. To  ensure smooth  delivery of  the
   Group's  products,  the  Group  has  a  proprietary  nationwide  network   of
   representatives.

    

   Global Finance named Tinkoff Bank the  world's Best Digital Consumer Bank  in
   2018 and 2020, the Best Digital  Consumer Bank in Russia in 2020, 2018,  2016
   and 2015, and the Best Digital Consumer Bank in Central and Eastern Europe in
   2019 and 2020. The  Banker recognised Tinkoff  Bank as the  Bank of the  Year
   in Russia in 2017 and 2013, and as the Best-performing Russian Bank in  2020.
   The bank's  mobile app  has consistently  received top  industry ratings  and
   awards (by Deloitte in 2013, 2014, 2015,  2016 and by Global Finance in  2018
   and 2020) and in  2020, was  ranked by Forbes  among the  top-3 Best  Russian
   Employers.

    

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   ISIN:          US87238U2033
   Category Code: MSCL
   TIDM:          TCS
   LEI Code:      2534000KL0PLD6KG7T76
   Sequence No.:  116255
   EQS News ID:   1216984


    
   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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