TBC Bank announces unaudited 4Q & preliminary unaudited FY 2021 Consolidated Financial Results

Continued delivery of robust profitability and steady growth, supported by solid capital
Strong progress in exploiting our international growth potential

European Union Market Abuse Regulation EU 596/2014 requires TBC Bank Group PLC to disclose that this announcement contains Inside Information, as defined in that Regulation

Financial Highlights

4Q 2021 P&L Highlights

  • Profit for the period amounted to GEL 198.5 million (4Q 2020: GEL 100.7 million)
  • Return on average equity (ROE) stood at 22.1% (4Q 2020: 13.7%)
  • Return on average assets (ROA) stood at 3.3% (4Q 2020: 1.8%)
  • Cost to income of TBC Bank Group PLC stood at 40.4% (4Q 2020: 38.2%)
  • Standalone cost to income ratio of the Bank1 was 32.2% (4Q 2020: 33.4%)
  • Cost of risk stood at -0.1% (4Q 2020: 2.0%)
  • Net interest margin (NIM) stood at 5.4% (4Q 2020: 4.8%)
  • Basic earnings per share stood at GEL 3.61 (4Q 2020: GEL 1.83)
  • Diluted earnings per share stood at GEL 3.51 (4Q 2020: GEL 1.79)

FY 2021 P&L Highlights

  • Profit for the period amounted to GEL 809.0 million (FY 2020: GEL 322.5 million)
  • Return on average equity (ROE) stood at 24.4% (FY 2020: 11.7%)
  • Return on average assets (ROA) stood at 3.4% (FY 2020: 1.6%)
  • Cost to income of TBC Bank Group PLC stood at 37.6% (FY 2020: 37.9%)
  • Standalone cost to income ratio of the Bank1 was 29.7% (FY 2020: 32.7%)
  • Cost of risk stood at -0.3% (FY 2020: 2.4%)
  • Net interest margin (NIM) stood at 5.1% (FY 2020: 4.7%)
  • Basic earnings per share stood at GEL 14.70 (FY 2020: GEL 5.84)
  • Diluted earnings per share stood at GEL 14.33 (FY 2020: GEL 5.76)

Balance Sheet Highlights as of 31 December 2021

  • Total assets amounted to GEL 24,512.0 million, up by 8.6% YoY
  • Gross loans and advances to customers stood at GEL 17,047.4 million, up by 12.2% YoY or at 18.0% on a constant currency basis
  • Net loans to deposits + IFI funding2 stood at 100.9%, down by 0.3 pp YoY, and Regulatory Net Stable Funding Ratio (NSFR) stood at 127.3%, while minimum regulatory requirements stood at 100%.
  • NPLs were 2.4%, up by 2.3 pp YoY
  • NPLs coverage ratios stood at 99.9%, or 175.3% with collateral, on 31 December 2021 compared to 85.6% or 159.4% with collateral, as of 31 December 2020
  • Total customer deposits amounted to GEL 15,038.2 million, up by 19.6% YoY or at 25.1% on a constant currency basis
  • The Bank's Basel III CET 1, Tier 1 and Total Capital Adequacy Ratios per NBG methodology stood at 13.7%,7%, and 20.3%, respectively, while minimum regulatory requirements amounted to of 11.7%, 14.0%, and 18.4%, respectively

Market Share3

  • Market share by total assets reached 38.6%, up by 0.4 pp YoY
  • Market share by total loans was 38.8%, down by 0.2 pp YoY
  • Market share of total deposits reached 40.4%, up by 3.2 pp YoY

4Q 2021 digital highlights

  • 98% of all retail transactions were conducted through digital channels (4Q 2020: 97%)
  • The monthly active digital users4 increased by 16.0% YoY and stood at 640,000
  • The average daily active digital users5 increased by 23.9% YoY and stood at 285,000
  • DAU/MAU6 stood at 44.2% (for 4Q 2020: 41.5%)

Additional Information Disclosure

The following materials are disclosed on our Investor Relations website on https://tbcbankgroup.com/ under Results Announcement section:

  • FY and 4Q 2021 Results Report
  • FY and 4Q 2021 Results Call Presentation

For further enquiries, please contact:
 Director of International Media and Investor Relations
Zoltan Szalai
ir@tbcbank.com.ge

Or

Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge

About TBC Bank Group PLC ("TBC PLC")
 TBC Bank Group PLC ("TBC PLC") is a public limited company registered in England and Wales. TBC PLC is the parent company of JSC TBC Bank ("TBC Bank") and a group of companies that principally operate in Georgia in the financial sector and other closely related fields. TBC PLC also recently expanded its operations in Uzbekistan. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of FTSE 250 Index. It is also a member of the FTSE4Good Index Series and the MSCI United Kingdom Small Cap Index.

TBC Bank, together with its subsidiaries, is a leading universal banking group in Georgia, with a total market share of 38.8% of customer loans and 40.4% of customer deposits as of 31 December 2021, according to data published by the National Bank of Georgia.

1 For the ratio calculation, all relevant group recurring costs are allocated to the Bank.
2 International Financial Institutions
3 Market share figures are based on data from the National Bank of Georgia (NBG). The NBG includes interbank loans for calculating market share in loans.
4 Users of TBC Bank internet and mobile banking, who logged in to the system at least once during the month.
5 Users of TBC Bank internet and mobile banking, who logged in to the system at least once during the day.
6 The average daily active retail digital users divided by the monthly active retail digital users.

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Disclaimer

TBC Bank Group plc published this content on 17 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2022 07:20:02 UTC.