TBC Bank Group
Holding Company of JSC TBC Bank

Press Releases

February 18, 2015

TBC Bank Announces FY 2014 and 4Q 2014 IFRS Consolidated Results; Profit for 2014 up 27.5% YoY to GEL 158.5 million

 

TBC Bank today announced its FY 2014 audited consolidated financial results, prepared in accordance with the International Financial Reporting Standards (IFRS). 

Financial Highlights

·         Total operating income in 2014 up 20.2% YoY to GEL 458.3 million (4Q 2014: GEL 132.3 million, up 26.9% YoY)

·         Underlying cost to income ratio improved to 47.0% (49.4% including one-off charges), compared to 52.1% in 2013 (4Q 2014: 51.2% and 50.6% without one-offs, compared to 53.5% in 4Q 2013)

·      Profit for 2014 up 27.5% YoY to GEL 158.5 million (4Q 2014: GEL 40.0 million, up 13.0% YoY), delivering ROAE of 18.4% (4Q 2014: 16.0%)

·         NIM (net interest margin) at 8.5% in 2014, compared to 8.4% in 2013 (4Q 2014: 8.5%, stable compared to 4Q 2013)

·         Total assets reached GEL 5,423.5 million as of 31 December 2014, up 21.8% YoY and 7.5% QoQ

·         Gross loans and advances to customers increased to GEL 3,706.3 million as of 31 December 2014, up 25.3% YoY and 14.7% QoQ:

o    retail gross loans reached GEL 1,666.9 million, up 38.0% YoY and 15.3% QoQ

o    SME gross loans reached GEL 533.9 million, up 36.0% YoY and 15.9% QoQ

o    micro gross loans reached GEL 273.7 million, up 36.0% YoY and 14.5%  QoQ

o    corporate gross loans reached GEL 1,231.7 million, up 6.4% YoY and 13.6% QoQ

·         Total customer deposits increased to GEL 3,322.4 million as of 31 December 2014, up 15.1% YoY and 10.6% QoQ

·         Total equity was GEL 1,019.5 million as of 31 December 2014, up 39.8% YoY and 4.6% QoQ

Operational Highlights

·         TBC Group became the largest retail bank in the country as of 31 December 2014

o    The Bank maintained its longstanding leadership in individual deposits with a market share of 33.7%

o    TBC Bank reached the leading position in retail loans with a market share of 29.7%

·         Market share in total loans increased by 0.7pp to 27.7% QoQ

o    Market share in legal entity loans increased by 0.3pp to 25.8%

·         Market share in total deposits increased by 0.6pp to 28.4% QoQ

o    Market share in legal entity deposits increased by 0.6pp to 23.0%

·         Bank Constanta was fully merged with TBC Bank in January 2015

 

The results materials can also be found on our website:

·         Audit Report 2014

·         4Q and FY 2014 Quarterly Report

 

·         4Q 2014 Results Call Presentation