14 May 2019 11:57

TCS Group upped IFRS net profit 26% in Q1, to 7.2 bln rubles

MOSCOW. May 14 (Interfax) - The TCS Group Holding (the parent company of Tinkoff Bank and Tinkoff Insurance) boosted its net profit 26% to 7.2 billion rubles in Q1, compared with 5.7 billion in Q1 2018, the group said in a statement.

This result is fully in line with Interfax's consensus forecast.

Net interest income before provisions grew 29% to 18.1 billion rubles (after provisions, 23% to 13.3 billion).

Net interest margin decreased to 21.5% from 25.5%.

Return on equity fell to 64.4% from 68.5%.

Value at risk remained at 7.5%.

The group's assets grew 8.9% to 408.9 billion rubles.

The credit portfolio before provisions grew 19.2% to 279.7 billion rubles (after provisions, 21.5% to 241.1 billion rubles).

Non-performing loans accounted for 8.1% of the credit portfolio as of March 31, down from 9.4% on December 31.

Clients' accounts grew 0.2% to 281.4 billion rubles.

Equity capital grew 11.2% to 46.9 billion rubles.