TBC Bank Group
Holding Company of JSC TBC Bank

Press Releases

November 12, 2015

TBC Bank Announces 3Q 2015 Unaudited IFRS Consolidated Results; Profit for 3Q 2015 up by 11.0% YoY, Asset Quality Maintained

TBC Bank today announced its 3Q and 9M 2015 unaudited consolidated financial statements, prepared in accordance with the International Financial Reporting Standards (IFRS).

 

Financial Highlights

3Q P&L Highlights

  • Profit for 3Q 2015 up by 11.0% YoY to GEL 50.6 million, delivering return on average equity (ROAE) of 18.2%
  • Total operating income in 3Q 2015 up by 25.4% YoY to GEL 143.3 million
  • Cost to income ratio improved to 43.3%, compared to 49.3% in 3Q 2014
  • Cost of risk on loans stood at 2.0%, up 1.3pp YoY and up 0.2pp QoQ (without currency exchange rate effect in 3Q 2015: up 0.7pp YoY and down 0.6pp QoQ)
  • Net interest margin (NIM) at 7.9% in 3Q 2015, compared to 8.3% in 3Q 2014

 

9M P&L Highlights

  • Profit for 9M 2015 up by 28.2% YoY to GEL 151.8 million, delivering return on average equity (ROAE) of 19.0%
  • Total operating income in 9M 2015 up by 28.8% YoY to GEL 420.0 million
  • Cost to income ratio improved to 41.8%, compared to 48.7% in 9M 2014
  • Cost of risk on loans stood at 2.3%, up 0.8pp YoY (broadly stable without currency exchange rate effect in 9M 2015)
  • Net interest margin (NIM) at 7.9% in 9M 2015, compared to 8.5% in 9M 2014

 

Balance Sheet Highlights

  • Total assets reached GEL 6,936.4 million as of 30 September 2015, up by 37.5% YoY and by 10.6% QoQ
  • Gross loans and advances to customers increased to GEL 4,560.0 million as of 30 September 2015, up by 41.2% YoY (17.3% at constant currency) and by 7.9% QoQ (3.9% at constant currency)
  • NPLs+Restructured loans to gross loans stood at 5.5%, up 1.4pp YoY and up 0.2pp QoQ
  • NPLs+Restructured loans coverage was 84.2% or 185.6% with collateral
  • Total customer deposits increased to GEL 4,286.2 million as of 30 September 2015, up by 42.7% YoY (by 15.5% w/o currency exchange rate effect) and by 11.9% QoQ (by 7.0% w/o currency exchange rate effect)
  • Tier I and Total Capital Adequacy Ratios per Basel II/III stood at 12.0% and 14.8%, respectively
  • Tier I and Total Capital Adequacy Ratios per Basel I stood at 23.4% and 28.6%, respectively

 

The results materials can also be found on our website:

·         3Q and 9M 2015 Results Report

·         3Q 2015 Results Call Presentation