TBC Bank Group
Holding Company of JSC TBC Bank

Press Releases

August 12, 2016

TBC Bank Group PLC Announces 1H 2016 and 2Q 2016 Unaudited IFRS Consolidated Results of JSC TBC Bank

RNS Number : 9956G

TBC Bank Group PLC
12 August 2016
 
RNS Number : 9958G
JSC TBC Bank
12 August 2016
 
  
The European Union Market Abuse Regulation EU 596/2014 requires TBC Bank Group PLC to disclose that this announcement contains Inside Information, as defined in that Regulation
 
Financial Highlights of JSC TBC Bank
 
2Q 2016 P&L Highlights
  • Net Profit for 2Q 2016 up by 45.0% YoY and by 37.2% QoQ to GEL 80.5 million, delivering return on average equity (ROAE) of 25.5% (19.9% without one-off effects) and return on average assets (ROAA) of 4.9% (3.8% without one-off effects)
  • Total operating income in 2Q 2016 up by 9.3% YoY and by 7.4% QoQ to GEL 155.9 million
  • Cost to income ratio stood at 45.1% (41.7% without one-off effects), compared to 42.8% in 2Q 2015 and 44.3% in 1Q 2016
  • Cost of risk on loans stood at 1.1%, down by 0.7pp YoY and broadly unchanged QoQ
  • Net interest margin (NIM) stood at 7.9% in 2Q 2016, compared to 7.7% in 1Q 2016 and 7.9% in 2Q 2015
 
1H 2016 P&L Highlights      
  • Net Profit for 1H 2016 up by 37.6% YoY to GEL 139.2 million, delivering ROAE of 22.5% (20.4% without one-off effects) and ROAA of 4.2% (3.8% without one-off effects)
  • Total operating income for the period up by 8.8% YoY to GEL 301.0 million
  • Cost to income ratio stood at 44.7% (41.0% without one-off effects), compared to 41.1% in 1H 2015
  • Cost of risk on loans stood at 1.1%, down by 1.3pp YoY
  • Net interest margin (NIM) at 7.8% in 1H 2016, compared to 8.0% in 1H 2015
 
Balance Sheet Highlights 30 June 2016
  • Total assets reached GEL 6,772.2 million as of 30 June 2016, up by 7.9% YoY and up by 1.8% QoQ
  • Gross loans and advances to customers increased to GEL 4,711.1 million as of 30 June 2016, up by 11.4% YoY (8.7% at constant currency) and by 4.8% QoQ (5.7% at constant currency).
  • Net loans to deposits + IFI funding stood at 96%, and Net Stable Funding Ratio (NSFR) at 112% as of 30 June 2016
  • NPLs stood at 4.7%, up 0.3pp YoY and down 0.1pp QoQ
  • NPLs coverage stood at 85.6%, (205.3% with collateral), compared to 103.4% as of 30 June 2016
  • Total customer deposits stood at GEL 4,269.8 million as of 30 June 2016, up by 11.4% YoY (by 8.5% w/o currency exchange rate effect) and up by 8.6% QoQ (by 9.9% w/o currency exchange rate effect)
  • Tier I and Total Capital Adequacy Ratios per Basel II/III stood at 12.6% and 15.7% respectively
  • Tier I and Total Capital Adequacy Ratios per Basel I stood at 26.3% and 32.5% respectively
 
The following results materials can also be found on our website:
 
 
If you have any questions, please contact:
Head of Investor Relations
Anna Romelashvili 
ir@tbcbank.com.ge
 
 
About TBC Bank Group PLC
TBC Bank Group PLC is a public limited company registered in England and Wales that was incorporated in February 2016. As of 10 August 2016, TBC Bank Group PLC is the parent company of TBC Bank.
 
 
About TBC Bank Joint Stock Company (“TBC Bank”)
TBC Bank, together with its subsidiaries, is one of the leading universal banking groups in Georgia, with a total market share of 28.2% of loans and 29.3% of non-banking deposits in Georgia as at 30 June 2016, according to data published by the NBG. It holds the number one position in deposits of individuals, the number two position in loans (both to individuals and to legal entities) and in deposits of legal entities, according to NBG data, and has a particular expertise in the fast-growing SME and micro sectors, where TBC Bank considers itself a market leader.
 
 
You can read the full RNS Announcement for TBC Bank Group PLC here.
You can read the full RNS Announcement for TBC Bank JSC here