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

TCS Group Holding PLC (TCS) 
TCS Group Holding PLC: Statement on Tinkoff Bank's RAS Financial Highlights 
for January - May 2020 
 
29-Jun-2020 / 15:00 MSK 
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 - May 2020 
 
Moscow, Russia - 29 June 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 - May 2020. 
 
For the five months of 2020, net income stood at RUB 13.2bn versus RUB 10.4bn 
in January - May 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 376bn representing an increase of 
17% y-o-y. The net loan portfolio amounted to RUB 307bn having increased by 
11% y-o-y and constituted 49% of total assets (57% at year-end 2019). 
 
Retail customer accounts stood at RUB 403bn. Tinkoff Bank continued to retain 
substantial liquidity: the CBR N2 ratio stood at 110% (minimum requirement: 
15%), and the CBR N3 ratio was 169% (minimum requirement: 50%). Retail 
customer accounts constituted 76% of total liabilities. 
 
Total assets increased by 45% y-o-y to RUB 624bn. 
 
As of 1 June 2020, total capital including retained profits (based on Form 
123) amounted to RUB 116bn. The CBR N1 capital adequacy ratio was 12.29%. 
Core Capital Adequacy Ratio (N1.1) was 9.06% and Main Capital Adequacy Ratio 
(N1.2) was 11.10%. 
 
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                     Tinkoff 
 
Artem Lebedev               Larisa Chernysheva 
PR Department               IR Department 
 
    + 7 495 648-10-00 (ext.     + 7 495 648-10-00 (ext. 
                      2202)                       2312) 
 
            Alexandr Leonov Neri Tollardo 
 
    + 7 495 648-10-00 (ext. +44 7741 078383 
                     35738) 
 
                                      ir@tinkoff.ru [1] 
              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 13.4%. The 3M 2020 IFRS net income of TCS Group Holding PLC 
amounted to RUB 9 bn. The ROE was 37.5%. 
 
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 recognized 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). 
 
ISIN:          US87238U2033 
Category Code: MSCL 
TIDM:          TCS 
LEI Code:      2534000KL0PLD6KG7T76 
Sequence No.:  72476 
EQS News ID:   1081151 
 
End of Announcement EQS News Service 
 
 
1: mailto:ir@tcsbank.ru 
 

(END) Dow Jones Newswires

June 29, 2020 08:01 ET (12:01 GMT)

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