Tbc Bank Group Plc · LSE:TBCG
Tbc Bank — FY2023 Earnings Presentation
72 slides from Tbc Bank's earnings presentation, February 2024
Slide 1: Q4 and FY 2023 Results Call Presentation
Q4 AND FY 2023 RESULTS CALL PRESENTATION 2023 1
Slide 2: Q4 AND FY 2023 RESULTS CALL PRESENTATION
Q4 AND FY 2023 RESULTS CALL PRESENTATION 2
Slide 3: Group at a glance
LSE premium listed company and FTSE250 constituent 5% 25.5% GEL 164 mln Share in Group ROE for Georgian GMV net profit financial services 4.3 mln 1.6 mln 15.4 mln MAU Monthly active customers +31% YoY # of transactions Q4 AND FY 2023 RESULTS CALL PRESENTATION 3
Slide 4: High profitability, robust growth, strong digital
High profitability Robust growth in Uzbek fintechs Strong digital delivering fast and backed by solid core Georgian footprint across profitable growth capital banking the Group operations 26.5% +19% +12% GEL 797 mln 5.2 mln ROE YoY loan YoY deposit +2.3x YoY Digital MAU 2 growth1 growth 1 Gross loan
Slide 5: Net profit, ROE, gross loans, cost to income
Net profit (GEL mln) ROE +14%/+2%1 -0.5pp/-3.4pp1 29.9%1 1,1161 1,140 26.5% 1,003 27.0% FY 2022 FY 2023 FY 2022 FY 2023 Gross loans (GEL bln) Cost to income +21% / +21%2 +2.8pp 22.1 36.2% 18.2 33.4% 31-Dec-22 31-Dec-23 FY 2022 FY 2023 (1) Adjusted for one off tax charge in Q4 2022 (2) Growth rate at
Slide 6: Economic growth remains robust at 7.5% in 2023
$ € £ Economic growth Well-diversified FX Central bank reserves Low inflation is remains robust at 7.5% inflows are normalizing are at record $5.0 bln enabling monetary in 2023 from record highs easing Q4 AND FY 2023 RESULTS CALL PRESENTATION 6
Slide 7: Exports, tourism, remittances and FDI inflows
Real GDP Growth Exports, Tourism, Remittances and FDI Inflows, mln USD 5000 Export Tourism 10.6 11.0 Remittances FDI 4500 IT Service Export Inflow 7.5 4000 Inflow w/o Russia 5.6 3500 5.0 3000 % 2500 2000 1500 1000 500 0 -6.3 2016Q3 2018Q1 2019Q3 2022Q3 2016Q1 2016Q2 2016Q4 2017Q1 2019Q1 2019Q2 2017Q
Slide 8: Inflation, monetary policy and NBG reserves
Annual Inflation and monetary policy rate (%) NBG’s reserves, FX interventions (mln USD) and USD/GEL (EOP) 16 3.3 14 3.1 2.9 12 2.7 2.7 10 9.0 8.5 8 4,902 5,012 4,272 3,911 6 3,506 4.1 4 1,279 2 565 0.0 72 0 Feb-22 Aug-22 Dec-24 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Jun-24 Dec-22 Jun-23 Feb-23 Dec-23 A
Slide 9: Business update
CONTENTS Q4 and FY 2023 Financial Results Business update Appendices
Slide 10: Group monthly active customers and digital users
Group monthly active customers (mln)1 Group digital users (mln)1 37% 48% 31% 44% 33% 45% 32% 44% 33% 46% +34% +24% / +38% 5.9 5.1 5.1 5.3 4.4 1.6 1.5 1.6 1.6 1.5 5.2 4.4 4.3 4.5 4.3 3.8 3.6 3.5 3.7 2.9 1.4 1.4 1.4 1.4 1.7 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Uzbekist
Slide 11: Retail, CIB and MSME market shares and growth
RETAIL CIB 1 38.1% 36.0% 40.7% 44.9% Loan market share1 Deposit market share1 Loan market share1 Deposit market share1 +11% +14% +31% +8% YoYloan growth2 YoYdeposit growth2 YoY loan growth 2 YoYdeposit growth2 GEL 21.3 bln Gross loans +19% YoY2 MSME 77% +25% +22% 68% +14% YoYloan growth2 YoYdeposit
Slide 12: Payments business net revenue
Net revenue from payments business (mln GEL) Payments business net revenue by transaction types +26% Card operations Bill payments 269 GEL 269 mln P2P transfers 214 FY 2023 B2B transfers Other FY 2022 FY 2023 2023 key operating highlights 0.9mln +12% YoY 33k +14% YoY 65% -1.0pp YoY Monthly active ca
Slide 13: Marketplaces: Housing, Lifestyle, Auto
LIFESTYLE HOUSING 80% 53% E-COMMERCE AUTO 59% Market shares1 82% Q4 AND FY 2023 RESULTS CALL PRESENTATION 13 (1) Source: Similarweb market shares are calculated based on number of unique visitors as of 31 December 2023
Slide 14: Marketplace GMV growth
GMV1 growth (GEL mln) GMV breakdown 15% 13% +59% Lifestyle Housing 164 GEL 164 mln E-commerce FY 2023 Auto 103 Ads, data & leads FY 2022 FY 2023 Gross profit/GMV 2023 key operating highlights 24K # loan disbursed 15.4 mln # transactions 3.1 mln # listings 5% share in TBC retail loan disbursements2 +
Slide 15: Uzbekistan – two high-growth fintechs
UZBEKISTAN – TWO HIGH-GROWTH FINTECHS Mobile-only bank powered by our digital banking Leading digital payments solution for individuals and small platform Space International businesses TBC UZ Retail mobile app Business web app CAR LOANS P2P SAVING PRODUCTS PAYMENTS QR PAYMENT ACCEPTANCE GENERAL PUR
Slide 16: Uzbekistan – TBC UZ bank continues fast and profitable growth
UZBEKISTAN – TBC UZ BANK CONTINUES FAST AND PROFITABLE GROWTH Number of users (mln) Financials (GEL mln) +72% / +2.3x +2.4x 45 4.1 37 3.5 31 3.0 24 2.7 2.4 19 8 1.0 1 2 3 0.4 0.5 0.6 0.7 -1 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 # of total registered users MAU Rev
Slide 17: Uzbekistan – Payme profitability remains robust
UZBEKISTAN – PAYME PROFITABILITY REMAINS ROBUST Number of digital users (mln) Financials (GEL mln) 8.2 9.0 9.9 10.7 11.6 +30% / +25% +16% / -6% 20 18 17 17 17 3.1 3.0 3.3 2.9 2.5 13 12 12 10 11 0.9 0.9 1.0 1.0 1.2 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 MAU DAU # o
Slide 18: Q4 and FY 2023 Financial Results
Q4 and FY 2023 Financial Results 18
Slide 19: Net profit and ROE
Net profit (mln GEL) ROE +30%/-14%1 +2.9pp/-8.4pp1 +14%/+2%1 -3% -0.5pp/-3.4pp1 -2.4pp 33.6%1 29.9%1 1,1161 3371 1,140 1,003 27.0% 26.5% 27.6% 300 25.2% 291 22.3% 224 FY 2022 FY 2023 Q4 2022 Q3 2023 Q4 2023 FY 2022 FY 2023 Q4 2022 Q3 2023 Q4 2023 • Group net profit increased by 14% YoY in FY 2023, w
Slide 20: Total revenue and non-interest income
Total revenue (mln GEL) Non-interest income (mln GEL) +6% -20% +15% +4% -6% +6% 2,374 781 2,071 738 59 738 69 615 640 781 604 257 247 399 13 187 198 247 187 198 16 20 139 1,636 67 68 1,290 442 412 428 357 323 95 104 110 FY 2022 FY 2023 Q4 2022 Q3 2023 Q4 2023 FY 2022 FY 2023 Q4 2022 Q3 2023 Q4 2023
Slide 21: NIM, funding costs and yields
NIM Cost of fund, cost of deposit, loan and asset yields +0.4pp +0.7pp -0.2pp 12.6% 12.6% 12.7% 12.1% 11.6% 12.1% 12.1% 12.3% 11.4% 10.8% 5.6% 5.4% 5.7% 4.9% 5.0% 6.7% 6.9% 6.7% 5.0% 4.9% 5.1% 6.3% 3.9% 4.3% 6.0% FY 2022 FY 2023 Q4 2022 Q3 2023 Q4 2023 FY 2022 FY 2023 Q4 2022 Q3 2023 Q4 2023 Loan yi
Slide 22: Cost to income and operating expenses
Total operating expenses (mln GEL) Cost to income 28.9% 31.9% 29.7% 31.5% 35.4% +27% +6.6pp +24% +17% +2.8pp +4.4pp 859 255 116 691 218 29 201 101 29 270 27 86 215 68 70 39.8% 473 33.4% 36.2% 33.2% 35.4% 121 140 375 104 FY 2022 FY 2023 Q4 2022 Q3 2023 Q4 2023 FY 2022 FY 2023 Q4 2022 Q3 2023 Q4 2023
Slide 23: NPLs and cost of risk
NPLs Cost of Risk 156% 94% 152% 88% 146% 80% 0.7% 0.9% 0.8% -0.2pp -0.0pp 0.9% 0.8% 0.7% 0.8% 0.6% 2.2% 2.0% 2.0% 31-Dec-22 30-Sep-23 31-Dec-23 FY 2022 FY 2023 Q4 2022 Q3 2023 Q4 2023 NPLs/Gross loans Total NPLs coverage1 Provision coverage Cumulative CoR YTD • Our asset quality remained strong in 2
Slide 24: Gross loan and deposit portfolio breakdown
Gross loan portfolio breakdown (bln GEL) Deposit portfolio breakdown (bln GEL) 39.5 39.1 39.3 40.3 37.5 40.1 +19%/+19%1 +12%/+12%1 +8%/+7%1 +9%/+8%1 21.3 19.9 19.7 17.8 18.3 0.3 17.8 0.3 0.6 5.5 1.9 5.2 1.8 1.7 4.8 10.2 9.2 8.9 6.2 7.4 8.3 6.5 7.1 7.5 6.8 7.1 7.5 31-Dec-22 30-Sep-23 31-Dec-23 31-Dec
Slide 25: Capital adequacy ratios
Capital adequacy ratios as of 31 December 2023 CET 1 CAR 3.1pp 3.0pp 2.3pp -0.1pp 22.1% 19.6% 17.5% 17.4% 17.4% 19.8% 16.6% 14.4% 14.3% 14.3% CET1 Tier1 Total 30-Sep-23 31-Dec-23 Min. requirements Above min. requirements by • As of 31 December 2023, our capital ratios remained at prudent levels for
Slide 26: Uzbekistan financial highlights FY 2023
Financial highlights Uzbekistan P&L and balance sheet highlights 1 FY 2023 FY 2023 TBC UZ Total GEL mln 26.0% 22.4% Operating income 137 71 208 ROE NIM Total provision charges -35 - -35 Operating expenses -82 -26 -108 6.0% 1.9% Profit before tax 20 45 65 Cost of risk NPLs Income tax -6 - -6 Net prof
Slide 27: Total dividend and share buyback
Total dividend and share buyback (GEL mln) 25% 25% 25% 25% 30% 35% 35% 394 348 50 200 109 298 89 75 No dividends were paid due to COVID-19 2016 2017 2018 2019 2020 2021 2022 2023 Total dividend paid for the year Share buyback Dividend payout ratio Dividend payout ratio incl. buyback 2023 capital dis
Slide 28: Targets versus actual performance FY 2023
TBC Group Uzbekistan Target Actual performance FY 2023 Target Actual performance FY 2023 7 mln 5.2 mln1 5 mln + 4.3 mln Digital monthly active users (Digital MAU) 1 Digital monthly active users (Digital MAU) GEL 1.5 bln, 15%+ CAGR 14% YoY 80% + +2.3x YoY Net profit Loan CAGR 23% + 26.5% GEL 200+ mln
Slide 29: Appendices: Georgia and Uzbekistan macro
CONTENTS Appendices Georgia and Uzbekistan macro Q4 and FY 2023 Financial Results Business update |
Slide 30: Georgia overview, GDP composition, ratings
Overview 2023 9M GDP composition Trade (15%) Real estate activities (10%) 2017 2023 Change 17% 15% Manufacturing (10%) Total population (mln) 3.7 3.7 0.3% Construction (8%) 4% Agriculture, forestry and fishing (7%) GDP, $ bln 16.5 30.5 85% 10% Public administration (7%) 5% Transportation and storage
Slide 31: Georgia external flows and trade partners
Export and import of goods, FDI, tourism and remittance Share of countries in exports, tourism, remittances and FDI, 2023 flows, $ mln and CA % of GDP 20000 0 15000 -2 -2.6 Russia, 16.6% EU*, 21.8% 10000 -4 -4.5 -5.6 Turkey, 8.8% 5000 -5.8 -6 -6.8 0 -8.1 -8 -5000 -10 -10.2 -10.4 Other, 23.3% -11.4 U
Slide 32: Reserves, fiscal and public debt
Gross international reserves and NBG interventions, mln USD Fiscal and public debt/GDP (%) 70 1 6,000 1050 900 60 5,012 -1 5,000 750 -1.9 -2.1 50 -2.4 -2.3 -2.6 -2.8 -2.8 -3.0 -3.0 -3 4,000 600 40 450 3,000 -5 300 30 -6.1 2,000 150 -7 20 0 1,000 -9 10 -9.3 -150 0 -300 0 -11 Nov-20 Nov-22 Mar-22 Jan-
Slide 33: Macro forecasts
2021 2022 2023 2024 2025 GDP Growth, YoY, % 10.6 11.0 7.5 5.6 5.4 Inflation (EOP), YoY, % 13.9 9.8 0.4 4.1 3.0 Monetary Policy Rate (EOP), % 10.5 11.0 9.5 8.5 7.75 CA Balance, % of GDP -10.3 -4.5 -4.3 -4.6 -4.5 Budget Balance, % of GDP -6.0 -3.0 -2.8 -2.5 -2.3 Government Debt, % of GDP 49.1 39.2 37.
Slide 34: FX share of loans and deposits
50 55 30 80 35 40 45 70 75 60 65 15 30 35 40 45 25 20 Dec-15 Mar-16 2015Q4 Jun-16 2016Q1 2016Q2 Sep-16 2016Q3 Dec-16 2016Q4 Mar-17 2017Q1 Source: Geostat, NBG, TBC Capital Jun-17 2017Q2 Sep-17 2017Q3 Dec-17 2017Q4 Mar-18 2018Q1 Jun-18 (1) On a constant currency basis, as of 31 Dec 2023 2018Q2 Sep-18
Slide 35: Top largest banks by loans in Georgia
Top 10 largest banks by loans in Georgia, as of 31 December 2023 (GEL mln) 39.6 36.9 5.6 4.7 3.8 2.2 2.4 1.6 1.3 0.7 21,278 19,827 2,993 2,528 2,024 1,198 1,308 879 724 352 TBC BOG Liberty Basis Credo Procredit Tera Cartu Halyk Pasha Domestic Domestic Domestic Foreign Foreign Foreign Foreign Foreign
Slide 36: Uzbekistan overview, GDP composition, ratings
Overview 2023 GDP composition 2017 2023 Change Agriculture (24%) Total population (mln) 32.1 36.3 12% 11% Manufacturing (21%) 3% 24% GDP, $ bln 61.8 90.8 47% Trade (6%) 4% Public Administration (6%) GDP per capita, $ (PPP) 6,898 10,612 54% Gross intl reserves, $ bln 28.1 34.6 23% 5% Construction (6%
Slide 37: Inflation and currency
INFLATION AND CURRENCY CPI annual inflation and monetary policy rate (%) UZS REER and USD/UZS dynamics (UZS REER, Jan-2013 = 100, index increase means UZS appreciation) 120 35000 25 30000 100 20 25000 80 15 14 20000 60 48 15000 10 8.8 40 12,336 10000 5 20 5000 0 0 0 Jul-13 Jul-20 Jan-21 Jul-21 Jul-2
Slide 38: Uzbekistan banking sector
UZBEKISTAN BANKING SECTOR Total loans (at current exchange rate, trillion UZS) and Retail loans (%) Credit to GDP (%) 50 79.6 85.5 500 44.2 45 39.2 29.2 36.8 40 27.0 25.2 23.6 400 35 30 300 25 20 6.9 200 15 5.2 5.5 4.7 4.9 4.5 100 10 3.0 3.0 5 0 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 20
Slide 39: Central bank and fiscal buffers
CENTRAL BANK AND FISCAL BUFFERS International reserves and public debt, % of GDP Sovereign Eurobond spreads over 10Y US treasury yield (pp, as of 14-Feb) 70 3 7 2.2 2.0 2 60 1.9 6 1.1 1 50 0.7 5 0 -0.3 -0.3 10Y US treasury, 4.17 40 4 -1 Uzbekistan 2029, 30 3 3.059 -2 20 2 -3 Georgia 2026, 1.82 -3.3
Slide 40: Uzbekistan banks selected information
1 As of 1 January 2024 Conventional/digital only Digital Conventional Conventional Conventional Conventional Digital Conventional Conventional Conventional Digital General information State/Private Private Private Private State Private Private State Private Private Private Foreign- Local/Foreign For
Slide 41: Uzbekistan digital payment players comparison
information State/Private Private Private State Private State General Local/Foreign Foreign Local Local Local Local # of Registered Customers (mln) 11.58 15.02 > 6.01 > 41 > 1.51 P2P transfers ✓ ✓ ✓ ✓ ✓ Services and bill payments ✓ ✓ ✓ ✓ ✓ Local merchant acquiring ✓ ✓ ✓ ✓ ✓ QR payments (offline & on
Slide 42: Appendices: Loan portfolio quality
CONTENTS Appendices Loan portfolio quality Q4 and FY 2023 Financial Results Business update |
Slide 43: NPLs and cost of risk by segments
NPLs Cost of risk by segments 2.2% 2.2% 2.1% 2.0% 2.0% 0.6% 1.1% 0.6% 0.9% 0.8% Retail Georgia 0.5% 1.4% 0.5% 1.1% 0.1% 3.4% 3.4% 3.4% 3.4% 3.3% CIB Georgia 0.1% -0.1% 0.1% 0.0% 0.3% 2.2% 2.2% 2.1% 2.1% 1.9% MSME Georgia 1.8% 1.8% 2.0% 2.0% 1.7% 0.9% 2.1% 0.9% 0.9% 1.8% 1.4% 1.4% 1.4% 1.3% 1.3% Uzbe
Slide 44: Loan book collateral and LTVs
76% of the loan book is secured by cash, gold and real estate LTVs by segments as of 31 December 2023 as of 31 December 2023 1% Real Estate 3% Unsecured 3% 52% Inventory 47% 72% 46% 43% Cash Cover 21% Gold MSME Georgia Retail Georgia CIB Georgia Total • LTV of mortgage loans stood at 38.2% as of 31
Slide 45: Gross loans and LLP ratio
Total: gross loans (mln) & LLP ratio1 Georgia: gross loans (mln) & LLP ratio1 LLP Ratio LLP Ratio LLP Ratio LLP Ratio LLP Ratio LLP Ratio 2.0% 1.8% 1.6% 2.0% 1.7% 1.5% 22,074 21,258 20,365 417 18,205 41.8% 42.0% 38.1% 40.9% 19,716 40.2% 400 36.8% 386 17,840 371 1,320 1,284 397 1,305 386 1,272 7.0% 7
Slide 46: Share of foreign currency loans
of which exposures with 31 December 2023 share of foreign largely mitigated currency loans currency risk Retail 33% 33% Non-mortgage 11% 49% Mortgage 47% 31% CIB 63% 60% MSME 48% 8% Total 49% 40% • The Bank actively manages risks arising from foreign currency denominated loans through risk appetite
Slide 47: Appendices: Capital and liquidity
CONTENTS Appendices Capital and liquidity Q4 and FY 2023 Financial Results Business update |
Slide 48: Liquidity ratios and liability structure
Liability structure Liquidity ratios 1 as of 31 December 2023 97% 224% 96% 227% Total liabilities GEL 28 bln 3% 16% Customer Deposits 124% 120% 114% 115% 5% Other Liabilities Debt Securities in Issue 100% 4% 100% Due to Credit Institutions Subordinated Debt 72% 30-Sep-23 31-Dec-23 NSFR NBG LCR Net l
Slide 49: Risk weighted assets and loan RWA density
Risk Weighted Assets Loan RWA density +15% +1pp 74% 74% 74% 75% 75% 24,337 22,668 21,219 20,767 21,453 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Q4 AND FY 2023 RESULTS CALL PRESENTATION 49
Slide 50: Appendices: ESG
CONTENTS Q4 and FY 2023 Financial Results Appendices ESG Business update |
Slide 51: ESG ratings: MSCI, ISS, FTSE4Good
As of April 2023, TBC Bank Group holds a rating of “AA” (on a scale of AAA-CCC) in the MSCI ESG Ratings assessment MSCI Disclaimer statement The use by TBC Bank Group PLC of any MSCI ESG research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names
Slide 52: Main ESG priorities for 2023 and targets
Main priorities for 2023 Targets and current levels Sustainable loan portfolio 1 Focus on sustainable financing, services and products Target for 2023 has been surpassed by 21% GEL 1.2 GEL 1.0 bln bln In Q4 2023 Target for 2023 2 Ensure employee diversity, equality and inclusion Measure the Group’s
Slide 53: Appendices: Financial and operational performance details
CONTENTS Appendices Financial and operational performance details Q4 and FY 2023 Financial Results Business update |
Slide 54: ROE, ROA, net profit and net loan book
Return on equity (ROE) Return on assets (ROA) 21.7% average ROE 3.3% average ROA 27.0% 26.5% 3.9% 3.9% 24.9% 3.8% 22.4% 20.9% 22.0% 22.9% 3.3% 3.4% 3.1% 3.2% 3.2% 3.4% 18.4% 20.1% 11.7% 1.6% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Net profi
Slide 55: Gross loan portfolio breakdown
Gross loan portfolio breakdown (GEL bln) Retail Georgia banking gross loans (GEL bln) 39.5 39.1 39.3 38.3 38.0 38.1 +19%/+19%1 +11%/+11%1 +8%/+7%1 +5%/+5%1 19.7 21.3 17.8 5.5 7.1 7.5 4.8 5.2 6.8 8.3 4.3 4.5 4.7 6.2 7.4 6.8 7.1 7.5 2.5 2.6 2.8 31-Dec-22 30-Sep-23 31-Dec-23 31-Dec-22 30-Sep-23 31-Dec-
Slide 56: Deposit portfolio breakdown
Deposit portfolio breakdown (GEL bln) Retail Georgia banking deposits (GEL bln) 40.3 37.5 40.1 38.1 36.6 36.0 +12%/+12%1 +14%/+14%1 +9%/+8%1 +5%/+4%1 19.9 17.8 18.3 0.3 0.3 0.6 1.9 1.8 1.7 7.1 7.5 10.2 6.5 9.2 8.9 2.8 3.1 2.3 7.1 7.5 4.2 4.3 4.4 6.5 31-Dec-22 30-Sep-23 31-Dec-23 31-Dec-22 30-Sep-23
Slide 57: Assets and liabilities structure
Assets structure (GEL bln) Liabilities structure (GEL bln) 29 30 33 25 26 28 13% 9% 11% 13% 6% 16% 16% 7% 5% 3% 10% 2% 3% 11% 10% 72% 74% 72% 61% 67% 66% 9% 8% 7% 10% 10% 9% 31-Dec-22 30-Sep-23 31-Dec-23 31-Dec-22 30-Sep-23 31-Dec-23 Customer deposits Cash and cash equivalents Subordinated debt Due
Slide 58: Loans and deposits by currency
Gross loans Deposits 2% 4% 4% 3% 4% 3% 9% 9% 9% 19% 19% 19% 43% 41% 39% 27% 28% 28% 52% 49% 49% 49% 45% 46% 31-Dec-22 30-Sep-23 31-Dec-23 31-Dec-22 30-Sep-23 31-Dec-23 GEL USD EUR Other GEL USD EUR Other Source: IFRS Group Data Q4 AND FY 2023 RESULTS CALL PRESENTATION 58
Slide 59: Loan yields and deposit costs
Loan yields Deposit costs 42.6% 43.6% 43.0% 41.9% 41.7% 26.9% 25.3% 24.9% 24.9% 24.4% 12.4% 12.8% 12.6% 12.7% 5.1% 12.1% 4.9% 4.9% 4.9% 4.3% 11.6% 11.7% 12.0% 11.7% 11.7% 4.5% 4.5% 4.4% 4.5% 3.9% Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Total loan yield Georgia
Slide 60: Debt repayments by year
Debt securities, subordinated and senior loans’ principal amount repayments by years (USD mln)1 400.0 16.5 75.0 44.3 1.1 16.1 309.4 65.4 52.6 165.0 157.9 6.7 102.0 96.4 40.5 44.5 12.0 71.2 25.5 25.5 - - - 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Senior Loans Sub Loans Debt Securities (1) Du
Slide 61: Consumer loans and retail transactions offloading
Georgia TBC Group Good progress in consumer loans offloading Good progress in consumer loans offloading 84% 86% 80% 82% 65% 77% 61% 58% 49% 50% Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Retail transactions offloading Retail transactions offloading 69% 85% 99% 99
Slide 62: Sensitivity analysis and FC denominated P/L items
Sensitivity analysis The share of selected FC denominated P/L Items, Q4 2023 FC % of respective totals 10% Currency Depreciation Interest income 42% Effect* Interest expense 32% Regulatory CAR would decrease by: For Total capital would decrease by Net interest income 51% -0.57% For Tier 1 would decr
Slide 63: Appendices: Corporate governance
CONTENTS Appendices Corporate governance Q4 and FY 2023 Financial Results Business update |
Slide 64: Board of Directors
BOARD OF DIRECTORS The experienced and diverse independent Board is well placed to drive forward the Group’s ambitious strategy Arne Berggren Tsira Kemularia, CDir Per Anders Fasth Chairman Senior independent Non-Executive Director Independent Non-Executive Director Joined TBC in 2019 Joined TBC in
Slide 65: Governance structure
Shareholders (Annual General Meeting) External Auditor • The Board of Directors oversees the execution of the Group’s Remuneration Committee strategy and operates via its 6 committees covering all major business needs, including technology & ESG committees Audit Committee • The Board consists of 8 N
Slide 66: Appendices: Key ratios, Uzbek financials and glossary
CONTENTS Appendices Key ratios, Uzbek financials and glossary Business update Q4 and FY 2023 Financial Results |
Slide 67: Group P&L
Change Change Change Q4 2023 Q3 2023 Q4 2022 12M 2023 12M 2022 YoY QoQ YoY P&L TBC Group (GEL mln) Net interest income 442 428 357 24% 3% 1,636 1,290 27% Net fee and commission income 110 104 95 16% 6% 412 323 28% Other operating non-interest income 87 83 152 -42% 5% 325 458 -29% Operating profit 63
Slide 68: Key ratios
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 accounting records and used by the Management for monitoring and
Slide 69: Key ratios by Georgian FS and Uzbekistan
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 accounting records and used by the Management for monitoring and
Slide 70: Ratio definitions
1. Return on average total equity (ROE) equals net profit 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 assets (ROA) equals net profit of the pe
Slide 71: Terminology definitions
Terminology Definition Georgian financial services includes JSC TBC Bank with its Georgian subsidiaries and JSC TBC Insurance, with its Georgian Financial Services (Georgia FS) subsidiaries. Uzbekistan includes: Uzbekistan (UZ) - The leading payment service provider, Payme (legal name - Inspired LLC
Slide 72: Contact Investor Relations
CONTACT INVESTOR RELATIONS Andrew Keeley Anna Romelashvili Investor Relations Director of Investor Relations Head of Investor Relations Department E-mail: AKeeley@Tbcbank.com.ge Tel: +44 (0) 7791 569834 E-mail: IR@tbcbank.com.ge E-mail: IR@tbcbank.com.ge Web: www.tbcbankgroup.com Tel: +(995 32) 227