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

TCS HoldingAnnouncement

06/05/2020 12:40

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

06-May-2020 / 14:36 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 - March 2020

Moscow, Russia - 06 May 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 - March 2020.

 

For the first three months of 2020, net income stood at RUB 12.2bn versus RUB
9.2bn in January - March 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 387bn representing an increase of 34%
y-o-y. The net loan portfolio amounted to RUB 326bn having increased by 32%
y-o-y and constituted 56% of total assets (57% at year-end 2019). 

 

Retail customer accounts stood at RUB 367bn. Tinkoff Bank continued to retain
substantial liquidity: the CBR N2 ratio stood at 93% (minimum requirement: 15%),
and the CBR N3 ratio was 159% (minimum requirement: 50%). Retail customer
accounts constituted 73% of total liabilities.

 

Total assets increased by 46% y-o-y to RUB 587bn.

 

As of 1 April 2020, total capital including retained profits (based on Form
123) amounted to RUB 112bn. The CBR N1 capital adequacy ratio was 12.75%. Core
Capital Adequacy Ratio (N1.1) was 8.73% and Main Capital Adequacy Ratio (N1.2)
was 11.15%.

 

 

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:               

 1 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)
                                3 ir@tinkoff.ru
 2 pr@tinkoff.ru
                                

TCS Group Holding PLC

TCS Group Holding PLC is an innovative provider of online retail financial
services. It includes Tinkoff Bank, mobile virtual network operator Tinkoff
Mobile, Tinkoff Insurance, 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 and on the Moscow Exchange.

The Group's key business is Tinkoff Bank, a fully online bank that serves over
10 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 13.2%. The 12M 2019 IFRS net income of TCS Group Holding PLC
amounted to RUB 36.1 bn. The ROE was 55.9%.

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.

In 2018, Global Finance named Tinkoff Bank the world's Best Consumer Digital
Bank, in 2019, 2018, 2016 and 2015, the Best Consumer Digital Bank in Russia,
and in 2019, the Best Consumer Digital Bank in Central and Eastern Europe. In
2017 and 2013, the Banker recognised Tinkoff Bank as the Bank of the Year in
Russia. The bank's mobile app has consistently received top industry ratings and
awards (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.:  61999
   EQS News ID:   1037341


    
   End of Announcement EQS News Service

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References

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=cb96d32e91e3c1ae2d5ed933bdc19b3f&application_id=1037341&site_id=reuters8&application_name=news
   2. mailto:pr@tinkoff.ru
   3. mailto:ir@tcsbank.ru


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