REG-TCS Group Holding PLC TCS Group Holding PLC: Statement on Tinkoff Bank's RAS Financial Highlights for January - March 2017 <TCSq

TCS HoldingAnnouncement

18/04/2017 13:40

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   TCS Group Holding PLC / Miscellaneous - Medium Priority
   TCS Group Holding PLC: Statement on Tinkoff Bank's RAS Financial Highlights
   for January - March 2017

   18-Apr-2017 / 14:35 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.

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   Statement on Tinkoff Bank's RAS Financial Highlights for January - March 2017

   Moscow, Russia - 18 April 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 - March 2017.

   For the first three months of 2017, net income stood at RUB 4.7bn versus RUB
   1.9bn in January-March 2016 which is attributed to the growth of net interest
   income, lower cost of funding, improved quality of the loan portfolio and
   growth of revenue from new business lines.

   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 127.6bn representing an increase of
   20% y-o-y. The net loan portfolio amounted to RUB 105.9bn having increased by
   26% y-o-y and constituted 61% of total assets (57% at year-end 2016).

   Retail customer accounts stood at RUB 114.6bn. Tinkoff Bank continued to
   retain substantial liquidity: the CBR N2 ratio stood at 49% (minimum
   requirement: 15%), and the CBR N3 ratio was 141% (minimum requirement: 50%).
   Retail customer accounts constituted 79% of total liabilities.

   Total assets increased by 18% y-o-y to RUB 174.6bn.

   As of 1 April 2017, total capital including retained profits (based on Form
   123) amounted to RUB 31.8bn. The CBR N1 capital adequacy ratio was 12.68%.
   Both Core Capital Adequacy Ratio (N1.1) and Main Capital Adequacy Ratio
   (N1.2) were 9.41%.

   Our strong March 2017 RAS results are driven by two major continuing trends:

   a) an ongoing quality growth of our consumer finance business, carrying on
   from 2016;

   b) a growing contribution from our non-credit fees-and-commission business
   lines.

    

   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 daily banking (credit and debit cards,
   payments, money transfers), savings, investments, loyalty programmes, travel
   services, SME services, mortgage platform, and insurance. With its special
   focus on mobile business, the bank offers mobile applications both for its
   customer base (Mobile Bank) and beyond it (Traffic Fines, MoneyTalk, Card 2
   Card instant money transfers).

   Tinkoff is transitioning to become an online financial marketplace,
   Tinkoff.ru, which offers an entire range of both own brand and partner retail
   financial services via mobile and desktop.

   As at 1 January 2017, the bank was the second largest player in the Russian
   credit card market, with a market share of 10.3%. The FY2016 IFRS net income
   of the parent company, TCS Group Holding PLC, which includes Tinkoff Bank and
   the insurance company Tinkoff Insurance, amounted to RUB 11 bn, ROE stood at
   43%.

   Banki.ru, Russia's largest financial news portal, named Tinkoff Bank the Bank
   of the Year 2016. 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.

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   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
   LEI Code:      549300XQRN9MR54V1W18
   Sequence No.:  4073


    
   End of Announcement EquityStory.RS, LLC News Service


   565267  18-Apr-2017 

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References

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


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