TBC Bank Group
Holding Company of JSC TBC Bank

Press Releases

February 18, 2016

TBC Bank Announces FY 2015 and 4Q 2015 IFRS Consolidated Results; Profit for 2015 up by 38.0% YoY to GEL 218.7 million

 

TBC Bank today announced its FY 2015 audited consolidated financial results, prepared in accordance with the International Financial Reporting Standards (IFRS).

Financial Highlights

4Q 2015 P&L Highlights

§  Profit for 4Q 2015 up by 67.2% YoY and by 32.2% QoQ to GEL 66.9 million, delivering return on average equity (ROAE) of 23.1% and return on average assets (ROAA) of 3.9%

§  Total operating income in 4Q 2015 up by 18.6% YoY and by 9.5% QoQ to GEL 157.0 million

§  Cost to income ratio stood at 49.3%, compared to 51.2% in 4Q 2014 and 43.3% in 3Q 2015

§  Cost of risk on loans stood at 0.2%, down by 1.7pp YoY and by 1.8pp QoQ

§  Net interest margin (NIM) at 7.4% in 4Q 2015, compared to 8.5% in 4Q 2014 and 7.9% in 3Q 2015

 

FY 2015 P&L Highlights

§  Profit for 2015 up by 38.0% YoY to GEL 218.7 million, delivering ROAE of 20.1% and ROAA of 3.4%

§  Total operating income in 2015 up by 25.9% YoY to GEL 577.0 million

§  Cost to income ratio improved to 43.9%, compared to 49.4% in 2014

§  Cost of risk on loans stood at 1.7%, up by 0.1pp YoY, or up by 0.3pp YoY without the change in IFRS methodology

§  NIM at 7.8% in 2015, compared to 8.5% in 2014

 

Balance Sheet Highlights 31 December 2015

§  Total assets reached GEL 6,935.0 million as of 31 December 2015, up by 27.9% YoY and broadly unchanged QoQ

§  Gross loans and advances to customers increased to GEL 4,639.0 million as of 31 December 2015, up by 25.2% YoY (8.1% at constant currency) and by 1.7% QoQ

§  Net loans to deposits + IFI funding stood at 95%, and Net Stable Funding Ratio (NSFR) at 116% as of YE 2015

§  NPLs per updated methodology stood at 4.8%, up 1.7pp YoY and down 0.2pp QoQ

§  NPLs coverage per updated methodology stood at 87.4%, (209.9% with collateral), compared to 130.5% as of YE 2014

§  PAR 90+Restructured loans to gross loans stood at 5.8%, up by 2.1pp YoY and up by 0.3pp QoQ

§  PAR 90+Restructured loans coverage was 72.7% (169.8% with collateral), compared to 109.4% as of YE 2014

§  Total customer deposits stood at GEL 4,177.9 million as of 31 December 2015, up by 25.7% YoY (by 6.5% w/o currency exchange rate effect) and down by 2.5% QoQ

§  Tier I and Total Capital Adequacy Ratios per Basel II/III stood at 12.8% and 16.0% respectively

§  Tier I and Total Capital Adequacy Ratios per Basel I stood at 24.7% and 31.0% respectively

 

The results materials can also be found on our website:

§  Audit Report 2015

§  4Q and FY 2015 Quarterly Report

§  4Q 2015 Results Call Presentation