Statement by TCS Group Holding PLC (TCS) on Tinkoff Bank RAS Financial Highlights for January – August 2021 29-Sep-2021 / 11:55 MSK Broadcast of regulatory announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this advertisement.

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Tinkoff Bank RAS Financial Highlights Statement for January – August 2021

Moscow, Russia – September 29, 2021. TCS Group Holding PLC (LI: TCS, MOEX: TCSG) (the “Group”), Russia’s leading provider of online financial and lifestyle services through its Tinkoff ecosystem, announces today hui unaudited financial highlights of Tinkoff Bank SAR for January – August 2021.

For the eight months of 2021, net profit stood at RUB 37.4 billion compared to RUB 22.9 billion in January – August 2020.

It should be noted that RAS net income 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 due to significant accounting differences. Therefore, the RAS figures should not be used as the basis for conclusions on future IFRS results.

The gross loan portfolio stood at 593 billion rubles, an increase of 52% year-on-year. The net loan portfolio stood at 507 billion rubles, growing 60% year-on-year and accounting for 52% of total assets (44% at the end of 2020).

Retail customer accounts amounted to 644 billion rubles. Tinkoff Bank continued to maintain significant liquidity: the CBR N2 ratio stood at 85% (minimum required: 15%) and the CBR N3 ratio at 122% (minimum required: 50%). Retail customer accounts represented 79% of total liabilities.

Total assets increased 43% year-on-year to 970 billion rubles.

As of September 1, 2021, the total capital including retained earnings (based on form 123) amounted to 151.2 billion rubles. The CBR N1 solvency ratio was 12%. The core capital adequacy ratio (N1.1) was 8.5% and the core capital adequacy ratio (N1.2) was 10.3%.

Note on RAS results

Please note that the figures in this press release are calculated in accordance with Tinkoff Bank’s internal methodology 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 which make it impossible to directly cross-read RAS results to IFRS. The main differences between RAS and IFRS are as follows:

– The consolidated results under IFRS include a certain number of additional items and the results of its subsidiaries

– Accumulation of charges under IFRS

– Temporal differences in the recognition of restructured loans (“tranches”) and loans before the courts

– The effect of the revaluation of foreign exchange 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) 
                               [email protected] 
[email protected] 
 

TCS Group Holding SA

TCS Group Holding PLC is an innovative provider of online financial services for retail and SMEs. 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 the 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 core business is Tinkoff Bank, a fully online bank that serves over 16 million customers and is the heart of the Tinkoff ecosystem. Tinkoff is Russia’s 3rd largest retail bank in terms of active customer base.

Tinkoff Bank is the second largest player in the Russian credit card market, with a share of 14.3%. TCS Group Holding PLC’s 2Q’21 IFRS net profit amounted to 16.1 billion rubles. The ROE was 46.1%.

With no branches, the Group serves all of its customers remotely through online channels and a cloud-based call center. The center has more than 10,000 employees, making it one of the largest in Europe. To ensure the proper delivery of the Group’s products, the Group has a national network of more than 10,000 representatives.

Global Finance named Tinkoff Bank the world’s best consumer digital bank in 2020 and 2018, and the best consumer digital bank in Russia in 2020, 2019, 2018, 2016 and 2015. Tinkoff was also named the best European retail bank in the world. year by Retail Banker International in 2020. In 2021, the banker recognized Tinkoff Bank as the best performing bank in Russia. The bank’s mobile application has always been hailed 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.:  123177 
EQS News ID:   1236739 
 
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September 29, 2021 04:55 ET (08:55 GMT)