TBC Bank Group
Holding Company of JSC TBC Bank

Press Releases

August 12, 2015

TBC Bank Announces 2Q 2015 Unaudited IFRS Consolidated Results; Profit for 2Q 2015 up by 50.4% YoY to GEL 55.5 million

 RNS Number : 7768V

JSC TBC Bank

12 August 2015

 

 

TBC Bank today announced its 2Q and 1H 2015 unaudited consolidated financial statements, prepared in accordance with the International Financial Reporting Standards (IFRS).

 

Financial Highlights

  • Total operating income in 2Q 2015 up by 31.6% YoY to GEL 142.6 million

 

  • Cost to income ratio improved to 42.8%, compared to 48.9% in 2Q 2014

 

  • Provision expenses amounted to GEL 18.3 million in 2Q 2015, up 6.2 million YoY and down 10.8 million QoQ
    • Cost of risk on loans stood at 1.8%, up 0.2pp YoY and down 1.2pp QoQ

 

  • Profit for 2Q 2015 up by 50.4% YoY to GEL 55.5 million, delivering return on average equity (ROAE) of 21.0%

 

  • Net interest margin (NIM) at 7.9% in 2Q 2015, compared to 8.4% in 2Q 2014

 

  • Total assets reached GEL 6,274.0 million as of 30 June 2015, up by 30.8% YoY and by 4.5% QoQ

 

  • Gross loans and advances to customers increased to GEL 4,227.5 million as of 30 June 2015, up by 37.4% YoY (18.9% at constant currency) and by 0.7% QoQ (0.1% at constant currency)
    • NPLs+Restructured loans to gross loans stood at 5.3%, up 0.9pp both YoY and QoQ
    • NPLs+Restructured loans coverage was 87% or 188% with collateral

 

  • Total customer deposits increased to GEL 3,831.2 million as of 30 June 2015, up by 30.8% YoY (by 13.3% w/o currency exchange rate effect) and by 2.9% QoQ (by 1.8% w/o currency exchange rate effect)

 

  • Net loans to deposits+IFI funding stood at 94% ; net stable funding ratio (NSFR) equaled 116%

 

  • Total equity stood at GEL 1,076.6 million as of 30 June 2015, up by 16.2% YoY and by 1.5% QoQ

 

  • Tier I and Total Capital Adequacy ratios (CAR) (Basel II/III) stood at 12.2% and 15.1% , respectively

 

  • Tier I and Total Capital Adequacy ratios (CAR) (Basel I) stood at 24.3% and 29.8% , respectively

 

The results materials can also be found on our website:

·         2Q and 1H 2015 Quarterly Report

·         2Q 2015 Results Call Presentation

·         1H 2015 Review Report