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3Q 2016 P&L Highlights
- Net Profit for 3Q 2016 up by 40.3% YoY to GEL 71.0 million and up by 12.9% QoQ without one-off effects in 2Q, delivering return on equity (ROE) of 20.6% and return on assets (ROA) of 4.0%.
- Total operating income in 3Q 2016 up by 12.9% YoY and by 3.8% QoQ to GEL 161.8 million.
- Cost to income ratio stood at 40.5%, compared to 43.3% in 3Q 2015 and 45.1% in 2Q 2016.
- Cost of risk on loans stood at 1.1%, down by 0.9pp YoY and unchanged on QoQ basis.
- Net interest margin (NIM) stood at 8.3% (8.0% without one-off effects) in 3Q 2016, compared to 7.9% in 2Q 2016 and 7.9% in 3Q 2015
9M 2016 P&L Highlights
- Net Profit for 9M 2016 up by 38.5% YoY to GEL 210.2 million, delivering ROE of 21.8% and ROA of 4.1%.
- Total operating income for the period up by 10.2% YoY to GEL 462.8 million.
- Cost to income ratio stood at 43.3% (40.6% without one-off effects), compared to 41.8% in 9M 2015.
- Cost of risk on loans stood at 1.1%, down by 1.1pp YoY.
- Net interest margin (NIM) stood at 7.9% in 9M 2016, same as in 9M 2015
Balance Sheet Highlights 30 September 2016
- Total assets reached GEL 7,583.7 million as of 30 September 2016, up by 9.3% YoY and up by 12.0% QoQ.
- Gross loans and advances to customers increased to GEL 5,003.6 million as of 30 September 2016, up by 9.7% YoY and by 6.2% QoQ.
- Net loans to deposits + IFI funding stood at 93.8% and Net Stable Funding Ratio (NSFR) at 114.1% as of 30 September 2016.
- NPLs stood at 4.6%, down by 0.3pp YoY and down 0.1pp QoQ.
- NPLs coverage stood at 84.3%, (205.0% with collateral), compared to 85.6% as of 30 June 2016.
- Total customer deposits stood at GEL 4,593.2 million as of 30 September 2016, up by 7.2% YoY and up by 7.6% QoQ.
- Tier I and Total Capital Adequacy Ratios per Basel II/III stood at 13.3% and 16.2% respectively.
- Tier I and Total Capital Adequacy Ratios per Basel I stood at 25.6% and 31.5% respectively
The following results materials can also be found on our website:
- 3Q and 9M 2016 Quarterly Report
- 3Q 2016 Results Call Presentation
If you have any questions, please contact:
Head of Investor Relations
About TBC PLC
TBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of JSC TBC Bank (“TBC Bank”) on 10 August 2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG.
About TBC Bank
TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 29.7% of loans (or 37.2% taking into account TBC Bank's holding in JSC Bank Republic and 30.6% of non-banking deposits (or 35.5% taking into account TBC Bank's holding in JSC Bank Republic) as at 30 September 2016, according to the data published by the NBG.
You can read the full RNS anouncement here