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

Thu 26th October, 2017 10:00am

   TCS Group Holding PLC (TCS)
   TCS Group Holding PLC: Statement on Tinkoff Bank's RAS Financial Highlights
   for January - September 2017

   26-Oct-2017 / 11:00 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.


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

   Moscow, Russia - 26 October 2017. TCS Group Holding PLC (TCS LI) (the
   "Group"), Russia's leading provider of online retail financial services via
   its financial supermarket, today announces Tinkoff Bank's
   unaudited RAS financial highlights for January - September 2017.


   For the nine months of 2017, net income stood at RUB 13.3bn versus RUB 6.4bn
   in January-September 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 156bn representing an increase
   of 35% y-o-y. The net loan portfolio amounted to RUB 131bn having increased
   by 39% y-o-y and constituted 55% of total assets (57% at year-end 2016). 


   Retail customer accounts stood at RUB 137bn. Tinkoff Bank continued to retain
   substantial liquidity: the CBR N2 ratio stood at 47% (minimum requirement:
   15%), and the CBR N3 ratio was 141% (minimum requirement: 50%). Retail
   customer accounts constituted 68% of total liabilities.


   Total assets increased by 48% y-o-y to RUB 240bn.


   As of 1 October 2017, total capital including retained profits (based on Form
   123) amounted to RUB 54bn. The CBR N1 capital adequacy ratio was 15.99%. Core
   Capital Adequacy Ratio (N1.1) was 9.78% and Main Capital Adequacy Ratio
   (N1.2) was 14.45%.


   Our strong September 2017 RAS results are driven by two major continuing


   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


   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)

   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. TCS
   Group includes Tinkoff Bank, mobile virtual operator network Tinkoff Mobile,
   Tinkoff Insurance, and Tinkoff Software DC, a network of development hubs
   across Russia.

   The Group was founded in 2006 by the Russian entrepreneur Oleg Tinkov and has
   been listed on the London Stock Exchange since October 2013.

   With no retail branches, the Group serves its customers remotely via online
   channels and its call centre, and operates a network of over 1,800
   representatives to ensure smooth delivery of its products. The network covers
   all of Russia and allows next day delivery to most customers.

   The Group's key business is Tinkoff Bank, Russia's first and only direct bank
   offering both own brand and partner retail financial services via its platform. The 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).

   As at 1 August 2017, the bank was the second largest player in the Russian
   credit card market, with a market share of 11.5%. The 1H 2017 IFRS net income
   of TCS Group Holding PLC amounted to RUB 7.6 bn, ROE stood at 46%., 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.




   ISIN:          US87238U2033
   Category Code: MSCL
   TIDM:          TCS
   LEI Code:      2534000KL0PLD6KG7T76
   Sequence No.:  4786

   End of Announcement EQS News Service


   622837  26-Oct-2017 

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