For three months of 2021, net profit under IFRS Tinkoff Bank – TCS Group increased by 57 percent compared to the same period last year and reached a record – 14.2 billion rubles. At the same time, the company noted the growth of revenues in a nonstink segment. This was facilitated by the growth of customers and an increase in the services offered, as well as ongoing efforts on monetization. Profit per share reached 70.72 rubles. The TCS Group also confirmed plans for the suspension of dividend payments. It is reported by RBC.
In the first quarter of this year, non-financial revenue amounted to 43 percent of the total revenue, last year this segment occupied 34 percent. The total number of customers increased by 37 percent year by year – up to 14.8 million.
The profitability of the loan portfolio decreased from 29.8 to 25.6 percent against the background of a decrease in interest rates and changes in the structure of credit products. The company’s shares are poorly reacted to the reporting output.
The company’s papers at 11 o’clock 45 minutes Moscow time traded at 4850 rubles, which is 0.4 percent above yesterday’s closure price – 4827.4 rubles.
Profitability of capital for the first quarter of 2021 amounted to 43.7 percent, the profitability of assets – 1.62 percent, the gross loan portfolio – 502.9 billion rubles (+12.4 percent quarter by quarter), net interest income – 29, 2 billion rubles (+14.5 percent quarter by quarter). Clients “Tinkoff Investments” were 1.8 million people (+44 percent quarter by quarter).
TCS expects an increase in 2021 a net loan portfolio (gross loan portfolio minus deductions for reserves) by 30 percent, was predicted in the company. Also, the company predicts that no credit income will occupy more than 40 percent in the general revenue segment. Predicted net profit – 55 billion rubles.
Chairman of the Board TCS Group Oliver Hughes confirmed the company’s plans not to pay dividends this year and said that payments will be resumed in 2022. For the first time, it became known in March – then the company announced that he continues to study opportunities for organic and inorganic business development, because of which he decided to suspend payments. Also, the TCS Group confirmed plans to conduct a reverse ransom for no more than 45 million US dollars.