Tbc Bank Group Plc · LSE:TBCG
Tbc Bank — Q2 2021 Earnings Presentation
65 slides from Tbc Bank's earnings presentation, 2021
Slide 1: Q2 2021 Call Presentation
Q2 2021 Call Presentation Unaudited IFRS consolidated figures
Slide 2: Disclaimer
DISCLAIMER 2 By attending the meeting where this presentation is made, or by reading this document, you agree to be bound by the conditions set our below. The information, statements and opinions contained in this Presentation do not constitute a public offer under any applicable legislation or an o
Slide 3: Main Highlights of Q2 2021
MAIN HIGHLIGHTS OF Q2 2021 3 YoY GDP growth YoY exports growth2 Strong macro rebound supported by high external +29.8% +47.1% inflows and increased domestic demand1 vs 2020 levels vs 2020 levels +12.6% +10.9% vs 2019 levels vs 2019 levels Record high profitability 31.0% 34.7% ROE Bank’s standalone R
Slide 4: Outstanding Financial Performance Across the Board
OUTSTANDING FINANCIAL PERFORMANCE ACROSS THE BOARD 4 Our strong financial results were driven by the increased net interest margin, strong growth in non-interest income, as well as improved performance on asset quality side Net profit (GEL mln) EPS2 (GEL) NIM +98.4% +97.7% +0.7pp 250.4 4.5 5.0% 4.3%
Slide 5: Georgian Economy – Strong Rebound
GEORGIAN ECONOMY – STRONG REBOUND 5 Real GDP growth Exports, imports, remittances, tourism inflows (%) Exports1 Imports1 80 70.0 80 58.0 50 60 45.2 44.8 60 44.8 42.4 38.5 30.6 30.1 40 40 17.7 15.5 40 20 1.9 20 -5.1 -9.4 -3.4 0 21.6 20.7 0 14.2 12.5 5.5 -20 0.9 -0.1 -0.4 -20 -1.5 -2.9 -3.2 30 25.8 -1
Slide 6: Fiscal and Monetary Policy
FISCAL AND MONETARY POLICY 6 GEL has strengthened, while inflation rate remained high The GEL REER, daily estimates Monetary policy rate and annual inflation (%) (% deviation from period average, as of July 27, increase means GEL appreciation) 1.76; 2.21 12 15 2.15; 2.40 Jul-21, 11.9 2.38; 2.58 2.57
Slide 7: Contents
CONTENTS 7 Business Update Q2 2021 Financial Results Appendices
Slide 8: Q2 Business Update
Q2 BUSINESS UPDATE 8 Digital Payments Uzbekistan ESG • In Q2, retail digital • In Q2, the number and volume of • We have started expanding our TBC UZ • Received accreditation from transactions went up 53.1% TBC Bank payments transactions operations outside Tashkent and Green Climate Fund (GCF). YoY
Slide 9: Leading Digital Channels
LEADING DIGITAL CHANNELS 9 97% of all retail transactions are conducted through digital Fast growth in retail digital transactions (mln) +53.1% channels (Q2’21)1 +19.1% 3% +0.3pp YoY 34.9 16% 29.3 -1.5pp YoY 22.8 IB & MB 24.4 57% +4.4pp YoY TBC Pay terminals 20.1 15.0 ATMs 5.0 5.4 6.8 24% Branches 1
Slide 10: Best-in-Class Mobile and Internet Banking
BEST-IN-CLASS MOBILE AND INTERNET BANKING 10 Active retail digital users 1 (‘000) DAU/MAU2 +27.0% +15.2%/+15.8% 240 249 DAU(’000) 196 -0.8%/+1.3% 679 688 Jun-20 Mar-21 Jun-21 642 637 594 DAU/MAU 38.6% 41.3% 41.8% 553 +17.6% 579 596 MAU(’000) 507 Q2 2020 Q1 2021 Q2 2021 Mobile Banking Mobile and Inte
Slide 11: Leading Payments Provider in Georgia
LEADING PAYMENTS PROVIDER IN GEORGIA 11 1 Leading payments provider in Georgia Offering a full suite of traditional payments solutions as well as innovative offerings +22% QoQ +26% QoQ Acquiring Issuing Increase in number of payments Increase in volume of payments • 1.4 mln cards in issue; transacti
Slide 12: Second Largest Payments Provider in Uzbekistan
SECOND LARGEST PAYMENTS PROVIDER IN UZBEKISTAN1 12 Volume of payments, mln GEL • The second largest payment service provider1 in Uzbekistan that supplies +117.7% +74.2% +17.9% +66.7% high-quality payment solutions to its 3.5 mln registered users. • Payme handles P2P transfers, utility payments, e-co
Slide 13: First Digital Bank in Uzbekistan
FIRST DIGITAL BANK IN UZBEKISTAN 13 In October 2020 we successfully launched TBC UZ, a digital commercial bank in Uzbekistan. Rapid growth across all key metrics Registered users Total debit cards (TBC UZ & Other Banks. ‘000)* 403,076 301,633 187 230,179 126 157,131 81 97,801 49 78 31 54 66 29 42 Ma
Slide 14: Our ESG Achievements
OUR ESG ACHIEVEMENTS 14 • In June 2021, we have published a full scale Sustainability Report for the second year in a row, which outlines our impact on the economy, environment and society, as well as our contribution towards sustainable development. The full report is available at www.tbcbankgroup.
Slide 15: Contents
CONTENTS 15 Business Update Q2 2021 Financial Results Appendices
Slide 16: Record High Profitability
RECORD HIGH PROFITABILITY 16 Net profit (mln GEL) ROE 21.3% 22.4% 26.0% +98.4% +11.5pp/ +11.8pp1 +63.7% +10.7pp/+13.2pp1 34.7% 31.0% 22.9% 21.5% 20.3% 19.5% 250.4 153.0 126.2 Q2 2020 Q1 2021 Q2 2021 Q2 2020 Q1 2021 Q2 2021 Bank’s standalone ROE2 ROE Pre-provision ROE ROA In Q2 2021, our record hig
Slide 17: Net Interest Margin Coming Back to Pre-Pandemic Level
NET INTEREST MARGIN COMING BACK TO ITS PRE-PANDEMIC LEVEL 17 Total net interest income (mln GEL) NIM evolution YoY 4.3% 4.7% 5.0% +31.7% +7.9% 184.4 225.1 242.8 Q2 2020 Q1 2021 Q2 2021 Q2 2020 Loan yield Loan Liabilities Other Q2 2021 effect composition composition effects Total net interest income
Slide 18: Strong Growth in Non-Interest Income
STRONG GROWTH IN NON-INTEREST INCOME 18 Net fee and commission income (mln GEL) Other non-interest income (mln GEL) +59.5% +184.4% +39.1% +83.0% 74.5 63.0 45.3 2.4 5.5 39.5 9.6 40.7 1.0 0.8 9.4 37.6 9.5 28.4 26.2 4.4 7.8 18.2 24.6 5.5 1.6 31.4 22.6 28.5 11.0 10.3 19.1 Q2 2020 Q1 2021 Q2 2021 Q2 2020
Slide 19: Maintaining High Efficiency and Low Cost to Income
MAINTAINING HIGH EFFICIENCY AND LOW COST TO INCOME 19 Total operating expenses (mln GEL) Cost to income +41.6% -2.6pp/-3.7pp1 +10.2% -3.9pp/-4.5pp1 134.7 122.2 38.0% 39.3% 95.1 19.3 32.3% 33.1% 35.4% 17.4 28.6% 37.6 16.4 34.5 21.5 70.3 77.8 57.2 Q2 2020 Q1 2021 Q2 2021 Q2 2020 Q1 2021 Q2 2021 Staff
Slide 20: Sound Asset Quality
SOUND ASSET QUALITY 20 NPLs NPL coverages as of 30 June 2021 +0.5pp 87% 13% -1.4pp 4.8% 294% 3.4% 2.9% 152% 170% 79% 90% 62% 91% 30-Jun-20 31-Mar-21 30-Jun-21 Secured 1 Unsecured Total • In Q2, NPL improved across all segments, driven by resumed repayments from Provision coverage Collateral coverage
Slide 21: Loan Book Growth Across All Segments YoY
LOAN BOOK GROWTH ACROSS ALL SEGMENTS YoY 21 Gross loan portfolio breakdown (mln GEL) Retail banking gross loans (mln GEL) 39.5 38.5 38.1 39.9 39.0 38.3 +12.0%/+8.5%1 +8.8%/+6.1%1 -0.4%/+3.7%1 -1.2%/+2.1%1 15,332 15,275 13,635 5,761 5,689 23.5% 23.7% 24.5% 5,229 38.7% 38.3% 3,318 3,861 3,796 38.2% 38
Slide 22: Customer Deposits Growth Across All Segments YoY
CUSTOMER DEPOSITS GROWTH ACROSS ALL SEGMENTS YoY 22 Deposit portfolio breakdown (mln GEL) Retail banking deposits (mln GEL) 37.1 39.8 37.8 38.1 39.8 39.6 +23.5%/+20.1%1 +25.1%/+21.2%1 -9.6%/-5.0%1 -1.5%/+4.3%1 3 14,240 3 12,870 3 10,420 9.1% 10.9% 5,370 5,288 11.3% 47.2% 4,227 46.1% 2,562 2,368 46.8
Slide 23: Solid Capital Ratios
SOLID CAPITAL RATIOS 23 CET 1 CAR CET 1 movement on a QoQ basis +3.0pp -0.3% 0.2% +2.1pp 0.6% 13.0% 1.6% 10.0% 10.9% 13.0% 11.2%1 7.8% 10.9% 6.9% 30-Jun-20 31-Mar-21 30-Jun-21 CET 1 Ratio Q1 Net Income FX effect Portfolio RWA Capital CET 1 Ratio Q2 2021 Generation Change deductions 2021 Min. require
Slide 24: Funding and Liquidity
FUNDING AND LIQUIDITY 24 Liability structure Liquidity ratios1 as of 30 June 2021 105% 92% 103% 3.4% 18.6% 128% 125% 131% 137% 131% 127% 7.7% 1.7% 68.6% 100% 100% 100% 30-Jun-20 31-Mar-21 30-Jun-21 Net Loans to Deposits and IFI Funding Net Stable Funding Ratio Liquidity Coverage Ratio Customer Depos
Slide 25: Our Mid-Term Targets Remain Unchanged
OUR MID-TERM TARGETS REMAIN UNCHANGED 25 Target Drivers Actual performance Q2 2021 10-15% Retail and MSME segments 12.0%/8.5%2 Annual loan book growth (gross) 1 20%+ Strong income generation, high efficiency and normalized CoR 31.0% ROE3 Increased digitalization and <35% Cost to income ratio4 stream
Slide 26: Contents: Our Value Proposition
CONTENTS 26 Business Update Q2 2021 Financial Results Appendices: Our Value Proposition
Slide 27: TBC at a Glance
TBC AT A GLANCE 27 Financial highlights for Q2 2021 (IFRS consolidated figures) The largest bank in Georgia 15,275 12,870 31.0% Total loans (GEL mln) Total deposits (GEL mln) ROE Consistent track record of growth and profitability 4.4% 13.0% 127.1% ROA CET 1 CAR Liquidity Coverage Ratio Listed on pr
Slide 28: TBC Concept – Best-in-Class Affluent Banking
TBC CONCEPT – BEST-IN-CLASS AFFLUENT BANKING 28 In June 2021, we launched a new package for our TBC Concept1 clients - 360 package, TBC Concept continues to deliver which will allow our affluent clients to benefit from increased opportunities. excellent results in Q2 2021 New package +27.9% YoY +12.
Slide 29: Georgian Payments Business Metrics
GEORGIAN PAYMENTS BUSINESS METRICS 29 NUMBER OF PAYMENTS 1 (mln) VOLUME OF PAYMENTS 1 (GEL bln) +54% +70% 39.6 107.0 3.4% 3.6% 10.7% 3.0% Self-service terminals 6.1% Self-service terminals 21.7% E-commerce E-commerce 69.7 23.3 POS 12.2% POS 3.2% 4.0% 2.8% ATM-TBC CARDS 21.8% 37.2% ATM-TBC CARDS 6.6%
Slide 30: TBC Bank Value Proposition
TBC BANK VALUE PROPOSITION 30 OUR MISSION: MAKE LIFE EASIER FINANCIAL SERVICES WITH STRONG FOCUS ECOSYSTEMS ON DIGITAL Revenue – GEL 669.3 mln Net profit - GEL 424.1 mln Revenue1 – GEL 64.863 mln up by 34% YoY 1 Net Profit – GEL 30.0 mln up by 60% YoY Book Value – GEL 3.2 bln Total Assets – GEL 22.1
Slide 31: Our Customer Centric Ecosystems
OUR CUSTOMER CENTRIC ECOSYSTEMS 31 Why ecosystems? • Significant contributor to the overall digital play of the Group • Network effect - capitalizing on increased number of users and participants • Data driven customer relationship management * • Loyalty programme as a backbone of our ecosystem stra
Slide 32: Contents: Loan Portfolio Quality
CONTENTS 32 Business Update Q2 2021 Financial Results Appendices: Loan Portfolio Quality
Slide 33: Borrowers with FX Income
BORROWERS WITH FX INCOME 33 30 June 2021 of which borrowers % of FX loans with FX income1 Retail 47.2% 38.1% Non-mortgage 16.1% 29.7% Mortgage 62.2% 39.1% CIB 71.6% 60.7%2 MSME 52.8% 10.4% Total 58.0% 42.7% (1) FX income implies both direct and indirect income for legal entities, the % of loan regar
Slide 34: NPLs: Total Portfolio
NPLs: TOTAL PORTFOLIO 34 NPLs PAR 30 4.7% 4.8% 3.5% 3.4% 2.6% 2.5% 2.9% 1.7% 2.2% 1.3% Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 NPL coverage ratios 2.0 0.2 0.5 • In Q2, NPL improved across all segments, driven by resumed repayments from 0.0 -1.3 restructured retail and M
Slide 35: NPLs: Retail Portfolio
NPLs: RETAIL PORTFOLIO 35 NPLs PAR 30 5.7% 6.0% 3.4% 4.0% 3.0% 3.0% 3.0% 3.4% 1.5% 1.3% Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Total NPL coverage ratios 2.6 0.8 0.2 -0.1 -0.7 • In Q2, the improvement in NPL ratio was driven by resumed repayments from restructured custo
Slide 36: NPLs: CIB Portfolio
NPLs: CIB PORTFOLIO 36 NPLs PAR 30 2.0% 2.6% 2.4% 2.2% 0.6% 0.3% 1.6% 1.2% 1.0% 1.2% Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 NPL coverage ratios 0.3 0.0 0.2 -0.2 -2.0 • The NPL ratio improved QoQ mainly attributable to repayment of one large loan. • Par 30 ratio signifi
Slide 37: NPLs: MSME Portfolio
NPLs: MSME PORTFOLIO 37 NPLs PAR 30 6.6% 7.0% 5.2% 5.4% 3.8% 3.8% 3.9% 4.2% 2.9% 2.3% Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 NPL coverage ratios 4.0 1.0 0.4 1.0 -2.0 • The improvement in NPL ratio in Q2 2021 was driven by resumed repayments from restructured customers.
Slide 38: Strong Collateralization and Low LTVs Across Segments
STRONG COLLATERALIZATION AND LOW LTVs ACROSS SEGMENTS 38 75% of the loan book is secured by cash, gold and real estate as of 30 June 2021 LTVs by segments as of 30 June 2021 2%1% 3% Cash Cover 22% 57% 57% 56% Gold 51% Inventory Total Retail Corporate MSME Other Real Estate 72% • LTV of mortgage loan
Slide 39: Loan Book Breakdown by Stages According to IFRS 9
LOAN BOOK BREAKDOWN BY STAGES ACCORDING TO IFRS 9 39 Total: gross loan (mln) & LLP ratio1 Retail: gross loan (mln) & LLP ratio1 13,635 3.9% 15,332 3.8% 15,275 3.1% 935 36.1% 763 34.4% 5.7% 5,761 5.6% 4.7% 38.9% 5,229 5,689 404 2,296 1,803 5.6% 1,899 10.3% 5.4% 50.1% 43.1% 41.1% 462 386 129 722 519 9
Slide 40: TBC Capital 2021 Growth Projection Revised Upwards
TBC CAPITAL 2021 GROWTH PROJECTION REVISED UPWARDS 40 Major macro variable 2021 2022 projections for 2021 - 2022, YoY, % Q1 Projections Updated Q1 Projections Updated EXPORTS1 +14.0 +23.5 +11.5 +12.0 +47.9% / +138.7% / +267.8% / +128.6% / TOURISM1 -75% rel. to 2019 -60% rel. to 2019 -10% rel. to 201
Slide 41: CIB and MSME Exposures
CIB AND MSME EXPOSURES 41 Most vulnerable industries, 19% • Focused on strong global brands/ local hotel chains Hospitality & Hospitality • Low LTVs standing at 47% Other, 16% Leisure, 9% Real Estate & • NPLs standing at 3.3% Management, Leisure • 7.5 years remaining maturity lower compared to the i
Slide 42: Minimum Regulatory Capital Requirements with Restored Buffers
MINIMUM REGULATORY CAPITAL REQIRMENTS WITH RESTORED BUFFERS 42 30 June 2021 CET 1 Tier 1 Total As a result of COVID-19 pandemic, the NBG implemented certain countercyclical measures in relation to capital adequacy requirements: Pillar 1 Minimum 4.5% 6.0% 8.0% • Postponing the phasing-in of concentra
Slide 43: CET 1 Reconciliation with IFRS Equity
CET 1 RECONCILIATION WITH IFRS EQUITY 43 • The main difference between CET1 and IFRS equity apart from CET 1 deductions under Basel framework comes from different treatment of loan loss provisions and impairment of repossessed assets/investment property. 13.0% 1.7% 0.7% 1.6% 0.3% 17.3% The main diff
Slide 44: Contents: TBC Positioning in Banking Sector
CONTENTS 44 Business Update Q2 2021 Financial Results Appendices: TBC Positioning in Banking Sector
Slide 45: Georgia at a Glance
GEORGIA AT A GLANCE 45 Investor friendly economy with strategic location at the gateway of trade between Europe and Asia Country profile - Georgia GDP composition (2020) Trade and repair 14.7% 14.5% Real estate 2.2% Manufacturing 3.1% Transportation and communication 4.6% 11.7% Construction Agricult
Slide 46: Leading Position in an Attractive Market
LEADING POSITION IN AN ATTRACTIVE MARTKET 46 Top -10 largest banks by loans in Georgia, as at 30 June 2021 (GEL mln) 38.1 35.6 4.6 3.8 3.5 3.0 2.8 2.6 2.4 1.4 14,963 13,955 1,822 1,497 1,379 1,158 1,080 1,028 950 566 TBC BOG Liberty VTB Procredit Credo Basis Cartu Tera Halyk Domestic Domestic Domest
Slide 47: History So Far
HISTORY SO FAR 47 Launched banking operations in 2020 Uzbekistan Issued $300 million Senior Unsecured Notes and $125 2019 million Additional Tier 1 Capital Perpetual Subordinated Notes Launch of fully digital Launched customer focused digital ecosystems 2018 bank “Space” Successfully completed the m
Slide 48: Uzbekistan Macro Update
UZBEKISTAN MACRO UPDATE 48 Uzbekistan’s economy demonstrated resilience; Retail credit penetration is increasing, though exchange rate and inflation is still to stabilize. Real GDP growth and inflation in Uzbekistan Projected GDP growth rate for Uzbekistan (%, YoY) (%, as of Jun-21) 20 16.0 13.8 15.
Slide 49: ESG Ratings and Scores
ESG RATINGS AND SCORES 49 In April 2021, TBC Bank Group received a rating of “AA” (on a scale of AAA-CCC) in the MSCI ESG Ratings assessment, which represents an upgrade from the previous rating of “A” assigned in October 2019. MSCI Disclaimer statement The use by TBC Bank Group PLC of any MSCI ESG
Slide 50: Contents: Financial and Operational Performance Details
CONTENTS 50 Business Update Q2 2021 Financial Results Appendices: Financial and Operational Performance Details
Slide 51: Balance Sheet Structure
BALANCE SHEET STRUCTURE 51 Assets Structure (mln GEL) Liabilities Structure (mln GEL) -6.5% -8.5% 120 .0% 120 .0% 19,813 23,617 22,092 17,160 20,491 18,755 100 .0% 100 .0% 5.0% 6.4% 10.3% 17.6% 18.6% 12.2% 9.2% 25.7% 9.7% 80. 0% 9.2% 9.9% 80. 0% 3.5% 3.4% 10.2% 3.7% 60. 0% 60. 0% 69.5% 68.6% 66.1% 6
Slide 52: FX Exposure of Loan and Deposit Portfolios
FX EXPOSURE OF LOAN AND DEPOSIT PORTFOLIOS 52 Gross Loans Deposits 1% 1% 1% 9% 8% 9% 25% 26% 25% 55% 59% 56% 36% 33% 31% 39% 41% 44% 35% 32% 34% 30-Jun-20 31-Mar-21 30-Jun-21 30-Jun-20 31-Mar-21 30-Jun-21 GEL Loans USD Loans EUR Loans GEL USD EUR Other
Slide 53: Segment Profitability Q2 2021
SEGMENT PROFITABILITY Q2 2021 53 Retail (mln GEL) MSME (mln GEL) (24) Net Net Interest Net F&C Non Interest Credit loss Operating Income Tax Net Profit Net Interest Net F&C Non Interest Credit loss Net Operating Income Tax Net Profit modification Income 1 Income allowance Expenses Income 1 Income al
Slide 54: Funding Repayment Ladder
FUNDING REPAYMENT LADDER 54 Debt securities, subordinated and senior loans’ principal amount repayments by years (USD mln)1 492.3 423.1 208.8 205.5 5.0 35.5 100.1 29.0 57.0 79.1 20.7 203.8 141.0 1.1 100.1 16.5 65.4 16.1 37.0 22.5 68.1 7.5 40.5 13.7 4.6 - - - 2021 2022 2023 2024 2025 2026 2027 2028 2
Slide 55: Sensitivity Analysis and FC Details for Selected P/L Items
SENSITIVITY ANALYSIS AND FC DETAILS FOR SELECTED P/L ITEMS 55 Sensitivity analysis The share of selected FC denominated P/L Items of Q2 2021 10% Currency FC % of respective Depreciation Effect totals NIM -0.14% Interest income 36% Technical cost of risk +0.12% Interest expense 44% Net interest incom
Slide 56: TBC Insurance Standalone Performance
TBC INSURANCE STANDALONE PERFORMANCE 56 Net Earned Premium 1 & GWP (thousand GEL) Comments 18.5% 32.9% 22.0% 39.3% 16.7%2 32.2%2 +24.3%/+22.6% +12.6%/+3.5% • TBC Insurance is the second largest player on the non-health insurance market and 25,515 26,414 the largest player in the retail segment, hold
Slide 57: Grace Periods Introduced in 2020
GRACE PERIODS INRODUCED IN 2020 57 First stage in March 2020 In order to support our customers during the COVID-19 pandemic, in coordination with the Government, NBG and the banking sector, we have introduced three-month grace periods on principal and interest payments for all our individual and MSM
Slide 58: Loan Yields and Deposit Costs by Segments
LOAN YIELDS AND DEPOSIT COSTS BY SEGMENTS 58 Total portfolio: loan yield and deposit cost CIB: loan yield and deposit cost 9.0% 8.5% 8.5% 8.7% 8.4% 9.7% 10.0% 10.2% 9.8% 10.2% 4.5% 4.4% 4.2% 3.9% 4.0% 3.4% 3.7% 3.6% 3.5% 3.4% Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Total Loan Yie
Slide 59: Contents: Key Ratios and Financial Statements
CONTENTS 59 Business Update Q2 2021 Financial Results Appendices: Key Ratios and Financial Statements
Slide 60: Balance Sheet
BALANCE SHEET 60 In thousands of GEL 30-Jun-21 31-Mar-21 30-Jun-20 Cash and cash equivalents 1,414,414 2,425,584 981,803 Due from other banks 2,176,471 2,418,949 1,824,890 Net Loans 14,796,968 14,742,344 13,105,988 Investment securities measured at fair value through other comprehensive income 2,022
Slide 61: Profit & Loss Statement
PROFIT & LOSS STATEMENT 61 In thousands of GEL Q2 2021 Q1 2021 Q2 2020 Interest income 458,573 440,613 393,113 Interest expense (223,456) (220,980) (212,713) Net gains on currency swaps 7,650 5,498 3,965 Net interest income 242,767 225,131 184,365 Fee and commission income 105,046 81,108 65,037 Fee
Slide 62: Selected Ratios Calculated Based on Monthly Averages
SELECTED RATIOS CALCULATED BASED ON MONTHLY AVERAGES 62 Average balances included in this document are calculated as the average of the relevant monthly balances as of each month-end. Balances have been extracted from TBC's unaudited and consolidated management accounts prepared from TBC's accountin
Slide 63: Ratio Definitions
RATIO DEFINITIONS 63 1. Return on average total equity (ROE) equals net income attributable to owners divided by the monthly average of total shareholders’ equity attributable to the PLC’s equity holders for the same period; annualised where applicable. 2. Return on average total equity (ROE) before
Slide 64: Segment Definitions
SEGMENT DEFINITIONS 64 Segment Definitions (updated in 2021) CIB: – a legal entity/group of affiliated entities with an annual revenue exceeding GEL 12.0 million or which has been granted facilities of more than GEL 5.0 million. Some other business customers may also be assigned to the CIB segment o
Slide 65: Contact Investor Relations
CONTACT INVESTOR RELATIONS Zoltan Szalai Anna Romelashvili Investor Relations Department Director of International Media and Head of Investor Relations Investor Relations E-mail: ZSzalai@Tbcbank.com.ge E-mail: IR@tbcbank.com.ge E-mail: IR@tbcbank.com.ge Tel: +44 (0) 7908 242128 Tel: +(995 32) 227 27