REG-TCS Group Holding PLC Statement on Tinkoff Bank's RAS Financial Highlights for January - October 2020

TCS HoldingAnnouncement

01/12/2020 10:00

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   TCS Group Holding PLC (TCS)
   Statement on Tinkoff Bank's RAS Financial Highlights for January - October
   2020

   01-Dec-2020 / 12:57 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 - October
   2020

   Moscow, Russia - 01 December 2020. 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 - October 2020.

    

   For the ten months of 2020, net income stood at RUB 27.8bn versus RUB 25.3bn
   in January - October 2019.

    

   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 406bn representing an increase
   of 11% y-o-y. The net loan portfolio amounted to RUB 333bn having increased
   by 6% y-o-y and constituted 47% of total assets (57% at year-end 2019). 

    

   Retail customer accounts stood at RUB 453bn. Tinkoff Bank continued to retain
   substantial liquidity: the CBR N2 ratio stood at 89% (minimum requirement:
   15%), and the CBR N3 ratio was 145% (minimum requirement: 50%). Retail
   customer accounts constituted 75% of total liabilities.

    

   Total assets increased by 38% y-o-y to RUB 707bn.

    

   As of 1 November 2020, total capital including retained profits (based on
   Form 123) amounted to RUB 126.4bn. The CBR N1 capital adequacy
   ratio was 14.54%. Core Capital Adequacy Ratio (N1.1) was 11.04% and Main
   Capital Adequacy Ratio (N1.2) was 13.59%.

    

    

   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
                                   

    

   About Tinkoff Group

    

   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 12 mn customers and forms the core of the Tinkoff ecosystem.

    

   Tinkoff Bank is the second largest player in the Russian credit card market,
   with a share of 13.5%. The 9M 2020 IFRS net income of TCS Group Holding PLC
   amounted to RUB 31.9 bn. The ROE was 45%.

    

   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 2,500
   representatives.

    

   In 2018, Global Finance named Tinkoff Bank the world's Best Consumer Digital
   Bank, and in 2020, 2019, 2018, 2016 and 2015, the Best Consumer Digital Bank
   in Russia. In 2017 and 2013, the Banker recognised Tinkoff Bank as the Bank
   of the Year in Russia. 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.:  88812
   EQS News ID:   1151802


    
   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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