REG-TCS Group Holding PLC EQS-Regulatory: Statement on Tinkoff Bank's RAS Financial Highlights for January-December 2016 <Origin Href="QuoteRef">TCSq.L</Origin>

TCS HoldingAnnouncement

24/01/2017 13:10

============

   TCS Group Holding PLC / Miscellaneous - Medium Priority
   Statement on Tinkoff Bank's RAS Financial Highlights for January-December
   2016

   24-Jan-2017 / 14:07 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS,
   LLC - a company of EQS Group AG.
   The issuer is solely responsible for the content of this announcement.

   ═════════════════════════════════════════════════════════════════════════════

   Statement on Tinkoff Bank's RAS Financial Highlights for January-December
   2016

   Moscow, Russia - 24 January 2017. TCS Group Holding PLC (TCS LI) (the
   'Group'), Russia's leading provider of online retail financial services,
   including Tinkoff Bank and Tinkoff Insurance, today announces Tinkoff Bank's
   unaudited RAS financial highlights for January-December 2016.

   For the twelve months of 2016, net income stood at RUB 9.3 bn versus RUB 3.0
   bn in January-December 2015 which is attributed to the growth of net interest
   income, lower cost of funding and better quality of the loan portfolio.

   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 117.8 bn representing an increase of
   17% y-o-y. The net loan portfolio amounted to RUB 97.5 bn having increased by
   25% y-o-y and constituted 57% of total assets (56% at year-end 2015).

   Retail customer accounts increased by 34% y-o-y to RUB 118.2 bn. Tinkoff Bank
   continued to retain substantial liquidity: the CBR N2 ratio stood at 33%
   (minimum requirement: 15%), and the CBR N3 ratio was 154% (minimum
   requirement: 50%). Retail customer accounts constituted 80% of total
   liabilities.

   Total assets increased by 23% y-o-y to RUB 171.5 bn.

   In December 2016, Tinkoff Bank paid dividends to its shareholders in the
   amount of RUB 3.16 bn. As a result, total capital including retained profits
   (based on Form 123) decreased by 7% m-o-m to RUB 27.6 bn as of 1 January
   2017. The CBR N1 capital adequacy ratio was 11.13% as of 1 January 2017. Both
   Core Capital Adequacy Ratio (N1.1) and Main Capital Adequacy Ratio (N1.2)
   were 8.62%.

   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 Bank                  Tinkoff Bank
   Darya Ermolina                Larisa Chernysheva
   Head of PR                    IR Department
   + 7 495 648-10-00 (ext. 2009) + 7 495 648-10-00 (ext. 2312)
    1 d.ermolina@tinkoff.ru       2 ir@tinkoff.ru

    

   About the Group

   TCS Group Holding PLC is an innovative provider of online retail financial
   services operating in Russia through a high-tech branchless platform. The
   Group has also developed a 'smart courier' network covering almost all cities
   and towns in Russia which allows next day delivery to many customers.

   Tinkoff Bank's product range includes credit, debit and prepaid cards,
   deposits, co-branded cards, agent-based mortgage products and investment
   services. With its special focus on mobile, the bank offers mobile
   applications both for its customer base (Mobile Bank) and beyond it (Traffic
   Fines, MoneyTalk, Card 2 Card instant money transfers).

   As per its five-year strategy, the Group has the ambition to become a
   financial marketplace, offering both own brand and partner products.

   As at 1 November 2016, the bank was the second largest player in the Russian
   credit card market, with a market share of 9.9%. The Group's 9M 2016 IFRS net
   income amounted to RUB 7.3 bn.

   In October 2016 Tinkoff Bank was named the largest independent global direct
   bank by Frost & Sullivan. In 2015 and 2016, the Global Finance magazine named
   Tinkoff Bank as the Best Consumer Digital Bank in Russia. In 2016, the bank
   also won Global Finance's Best Integrated Consumer Bank Site award and was
   named the Best Digital Bank in the CEE by Euromoney. The bank's mobile
   application was recognised as the best in Russia by Markswebb Rank & Report
   for three consecutive years in 2014, 2015 and 2016, and by Deloitte for four
   consecutive years from 2013 to 2016.

   ═════════════════════════════════════════════════════════════════════════════

   The EquityStory.RS, LLC Distribution Services include Regulatory
   Announcements, Financial/Corporate News and Press Releases.
   Archive at www.dgap.de/ukreg

   ═════════════════════════════════════════════════════════════════════════════

   Language:      English
   Company:       TCS Group Holding PLC
                  2nd Floor, Sotiri Tofini 4, Agios Athanasios
                  4102 Limassol
                  Cyprus
   Phone:         +7 495 648-10-00
   Fax:           +7 495 645-59-09
   E-mail:        media@tinkoff.ru
   Internet:      https://www.tinkoff.ru
   ISIN:          US87238U2033
   Listed:        Foreign Exchange(s) London, Moscow
   Category Code: MSCM
   TIDM:          TCS
   Sequence No.:  3783


    
   End of Announcement EquityStory.RS, LLC News Service


   538711  24-Jan-2017 

   img

References

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


============