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Statement on Tinkoff Bank's RAS Financial Highlights for January 2021

TCS Group Holding PLC (TCS)
Statement on Tinkoff Bank's RAS Financial Highlights for January 2021

26-Feb-2021 / 10:00 MSK
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Statement on Tinkoff Bank's RAS Financial Highlights for January 2021

Moscow, Russia - 26 February 2021. 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 2021.


For the first month of 2021, net income stood at RUB 7.3bn versus RUB 7.9bn in January 2020.


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 444bn representing an increase of 18% y-o-y. The net loan portfolio amounted to RUB 371bn having increased by 15% y-o-y and constituted 46% of total assets (44% at year-end 2020). 


Retail customer accounts stood at RUB 521bn. Tinkoff Bank continued to retain substantial liquidity: the CBR N2 ratio stood at 81% (minimum requirement: 15%), and the CBR N3 ratio was 130% (minimum requirement: 50%). Retail customer accounts constituted 81% of total liabilities.


Total assets increased by 45% y-o-y to RUB 805bn.


As of 1 February 2021, total capital including retained profits (based on Form 123) amounted to RUB 123.9bn. The CBR N1 capital adequacy ratio was 13.1%. Core Capital Adequacy Ratio (N1.1) was 10.2% and Main Capital Adequacy Ratio (N1.2) was 12.5%.


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:


Artem Lebedev
PR Department

+ 7 495 648-10-00 (ext. 2202)

Alexandr Leonov

+ 7 495 648-10-00 (ext. 35738)


Larisa Chernysheva
IR Department

+ 7 495 648-10-00 (ext. 2312)

Neri Tollardo

+44 7741 078383


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