Business
TBC Bank Group PLC ("TBC Bank") Announces 1H an...
TBC Bank Group PLC ("TBC Bank") Announces 1H an....
About this update from Tbc Bank Group Plc
[{"type":"text","content":"\n TBC Bank Group PLC (\"TBC Bank\") Announces 1H and 2Q 2017 Consolidated ResultsTBC Bank Group PLC (\"TBC PLC\") Announces 1H and 2Q 2017 Consolidated Results: Underlying[1] Net Profit for 1H 2017 up by 45.6% YoY to GEL 184.4 million Underlying1 Net Profit for 2Q 2017 up by 37.2% YoY to GEL 86.3 millionThe 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 RegulationFinancial Highlights 2Q 2017 P&L Highlights Underlying1 net profit amounted to GEL 86.3 million (2Q 2016: GEL62.9 million; 1Q 2017: GEL 98.1 million)Reported net profit amounted to GEL 79.9 million (2Q 2016: GEL 80.5 million; 1Q 2017: GEL 96.6 million)Underlying1 return on equity (ROE) amounted to 20.4% (2Q 2016: 19.9%; 1Q 2017: 24.6%)Reported return on equity (ROE) amounted to 18.9% (2Q 2016: 25.5%; 1Q 2017: 24.2%)Underlying1 return on asset (ROA) amounted to 3.2% (2Q 2016:3.8%; 1Q 2017:3.7%) Reported return on asset (ROA) amounted to 3.0% (2Q 2016:4.9%; 1Q 2017: 3.7%)Total operating income for the period was up by 32.9% YoY (up by 9.1% YoY to GEL 170.1 million without the Bank Republic estimated contribution) and by 1.8% QoQ to GEL 207.1 million Underlying1 cost to income ratio stood at 41.2% (2Q 2016: 41.7%; 1Q 2017: 39.8%)Reported cost to income was 44.9% (2Q 2016: 45.1%; 1Q 2017: 40.8%)Cost of risk on loans stood at 1.3% and increased by 0.2 pp YoY. QoQ cost of risk remained stable at constant currency rateNet interest margin (NIM) stood at 6.8% in 2Q 2017, down by 1.1 pp YoY and up by 0.2 pp QoQRisk adjusted net interest margin (NIM) stood at 5.3% in 2Q 2017(2Q 2016: 6.7%; 1Q 2017: 5.1%) 1H 2017 P&L Highlights &nbs...