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    TCS   US87238U2033


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Statement on Tinkoff Bank's RAS Financial Highlights for January - November 2020

12/28/2020 | 07:11am EDT
 TCS Group Holding PLC (TCS) 
Statement on Tinkoff Bank's RAS Financial Highlights for January - November 
28-Dec-2020 / 15:10 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
Statement on Tinkoff Bank's RAS Financial Highlights for January - November 
Moscow, Russia - 28 December 2020. TCS Group Holding PLC (LI: TCS, MOEX: 
TCSG) (the "Group"), Russia's leading provider of online financial and 
lifestyle services via its Tinkoff ecosystem, today announces Tinkoff Bank's 
unaudited RAS financial highlights for January - November 2020. 
For the eleven months of 2020, net income stood at RUB 30.5bn versus RUB 
26.7bn in January - November 2019. 
It should be noted that the RAS net income figure is not a reliable indicator 
of IFRS net income for the same period. There is a very low correlation 
between financial results under the two reporting standards as a result of 
significant accounting differences. Therefore, RAS figures should not be used 
as the basis for conclusions on forthcoming IFRS results. 
The gross loan portfolio amounted to RUB 418bn representing an increase of 
13% y-o-y. The net loan portfolio amounted to RUB 345bn having increased by 
9% y-o-y and constituted 45% of total assets (57% at year-end 2019). 
Retail customer accounts stood at RUB 488bn. Tinkoff Bank continued to retain 
substantial liquidity: the CBR N2 ratio stood at 90% (minimum requirement: 
15%), and the CBR N3 ratio was 139% (minimum requirement: 50%). Retail 
customer accounts constituted 74% of total liabilities. 
Total assets increased by 48% y-o-y to RUB 761bn. 
In November 2020, Tinkoff Bank paid dividends to its shareholder (TCSGH) in 
the amount of RUB 3bn. As a result, total capital including retained profits 
(based on Form 123) amounted to RUB 124.5bn as of 1 December 2020. The CBR N1 
capital adequacy ratio was 13.9%. Core Capital Adequacy Ratio (N1.1) was 
10.4% and Main Capital Adequacy Ratio (N1.2) was 12.8%. 
Note on RAS results 
Please note that the figures in this press release are calculated in 
accordance with Tinkoff Bank's internal methodology which is available at: 
RAS results are not a reliable indicator of IFRS results due to significant 
accounting differences that make a direct read-across from RAS to IFRS 
results impossible. The main differences between RAS and IFRS are: 
  ? Consolidated results under IFRS include a number of additional items and 
  results of its subsidiaries 
  ? Accrual of expenses under IFRS 
  ? Timing differences in accounting for restructured loans ('instalments') 
  and loans going through courts 
  ? The effect from the revaluation of currency derivative instruments 
  ? The effect of deferred income tax. 
                                         For enquiries: 
Tinkoff                     Tinkoff 
Artem Lebedev               Larisa Chernysheva 
PR Department               IR Department 
    + 7 495 648-10-00 (ext.     + 7 495 648-10-00 (ext. 
                      2202)                       2312) 
            Alexandr Leonov Neri Tollardo 
    + 7 495 648-10-00 (ext. +44 7741 078383 
                                      ir@tinkoff.ru [1] 
TCS Group Holding PLC 
TCS Group Holding PLC is an innovative provider of online retail financial 
services. It includes Tinkoff Bank, mobile virtual network operator Tinkoff 
Mobile, Tinkoff Insurance, management company Tinkoff Capital, Tinkoff 
Software DC, a network of development hubs in major Russian cities, and 
Tinkoff Education. The Group is currently developing Tinkoff ecosystem, which 
offers financial and lifestyle services. 
The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has 
been listed on the London Stock Exchange and on the Moscow Exchange. 
The Group's key business is Tinkoff Bank, a fully online bank that serves 
over 11 mn customers and forms the core of the Tinkoff ecosystem. 
Tinkoff Bank is the second largest player in the Russian credit card market, 
with a share of 13.2%. The 9M 2020 IFRS net income of TCS Group Holding PLC 
amounted to RUB 31.9bn. The ROE was 40.8%. 
With no branches, the Group serves all its customers remotely via online 
channels and a cloud-based call centre. To ensure smooth delivery of the 
Group's products, the Group has a proprietary nationwide network of 
In 2018, Global Finance named Tinkoff Bank the world's Best Consumer Digital 
Bank, in 2019, 2018, 2016 and 2015, the Best Consumer Digital Bank in Russia, 
and in 2019, the Best Consumer Digital Bank in Central and Eastern Europe. In 
2017 and 2013, the Banker recognised Tinkoff Bank as the Bank of the Year in 
Russia. The bank's mobile app has consistently received top industry ratings 
and awards (in 2013, 2014, 2015, 2016 by Deloitte and in 2018 by Global 
ISIN:          US87238U2033 
Category Code: MSCL 
TIDM:          TCS 
LEI Code:      2534000KL0PLD6KG7T76 
Sequence No.:  90447 
EQS News ID:   1157611 
End of Announcement EQS News Service 
1: mailto:ir@tcsbank.ru 

(END) Dow Jones Newswires

December 28, 2020 07:10 ET (12:10 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
LONDON STOCK EXCHANGE PLC -0.96% 7008 Delayed Quote.-21.45%
RTS INDEX -0.19% 1568.76 Real-time Quote.13.31%
TCS GROUP HOLDING PLC -2.86% 64.12 Delayed Quote.100.00%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.19% 74.1193 Delayed Quote.-0.40%
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