Tinkoff Bank expects in 2023 to return to early-2022 growth rate in loans

ST. PETERSBURG. June 14 (Interfax) - Tinkoff Bank expects growth in its loan portfolio to return to early 2022 levels in 2023, Stanislav Bliznyuk, the credit institution's executive board chairman, told reporters on Wednesday at the St. Petersburg International Economic Forum (SPIEF) 2023.

"Given that the number of [the bank's] clients grew [in 2022], though the loan portfolio did not increase, there is an opportunity for catching up at least somewhat to the results that we had at the beginning of 2022 in terms of the client portfolio, without worsening the credit policy, and without relaxing our underwriting," Bliznyuk said.

As previously reported, the overall loan portfolio of TCS Group , Tinkoff Bank's parent company, was practically unchanged at the end of 2022 after deducting the reserves, totaling 606.5 billion rubles, while the overall loan portfolio rose 7% to 732 billion rubles prior to deducting the reserves. The loan portfolio increased 12.7% to 683 billion rubles after provisions in Q1 2023, and grew 11% to 813 billion rubles prior to provisions.

TCS Group's client base surged 39% from 20.8 million customers to 28.9 million customers in 2022. Bliznyuk clarified at SPIEF 2023 that the bank "at this time" has 32.5 million clients.