Tbc Bank Group Plc · LSE:TBCG
Tbc Bank — Q3 2021 Earnings Presentation
63 slides from Tbc Bank's earnings presentation, 2021
Slide 1: Q3 2021 Call Presentation
Q3 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: Key Takeaways of the 3rd Quarter
KEY TAKEAWAYS OF THE 3RD QUARTER 3 The market leader in Georgia with robust profitability and steady growth supported by solid capital Strong progress in exploiting our international growth potential Robust profitability Expanding our Steady growth in Strong progress in backed by solid presence in G
Slide 4: We operate in an improving economic environment with positive outlook
WE OPERATE IN AN IMPROVING ECONOMIC ENVIRONMENT WITH POSITIVE OUTLOOK 4 11.3% YoY real GDP Strong growth outlook at Stable GEL during the growth in the first nine 10.5% and 6.0% for the FY quarter, while inflation is months of 2021, 2021 and 2022, showing signs of surpassing the 2019 level respectiv
Slide 5: GDP growth driven by strong external inflows and increased domestic demand
GDP GROWTH DRIVEN BY STRONG EXTERNAL INFLOWS AND INCREASED DOMESTIC DEMAND 5 Real GDP growth (%) Exports, imports, remittances, tourism inflows (%) Exports1 Imports1 60 80 69.8 80 44.8 58.1 50 60 45.1 60 45.4 41.8 40.7 40 40 30.5 30.6 40 27.2 23.4 25.8 21.2 30 14.6 22.3 15.5 18.7 20 1.9 20 20 -5.1 2
Slide 6: Contents: Business update
CONTENTS 6 Q3 2021 Business Financial Appendices update Results
Slide 7: Who we are
WHO WE ARE 7 1 Market leader in Georgia with diversified business across all market segments 2 Robust profitability and steady growth backed by solid capital 3 Advanced omni-channel distribution with best in class digital customer proposition 4 Fast growing payments business in Georgia and Uzbekista
Slide 8: Strong leading position across all segments in Georgia
STRONG LEADING POSITION ACROSS ALL SEGMENTS IN GEORGIA 8 Retail CIB 38.2% 40.2% 38.6% 40.0% Loan market share1 deposit market 37% 39% Loan market share1 deposit market share1 GEL 16.0 bln share1 Gross loans by segments +7.0% +23.5% +16.6% +28.8% YoY loan growth2 YoY deposit growth2 YoY loan growth2
Slide 9: Robust profitability and prudent capital levels
ROBUST PROFITABILITY AND PRUDENT CAPITAL LEVELS 9 We recorded robust profitability, while investing into our international expansion and maintaining solid capital levels Net profit (GEL mln) ROE ROA +35.7% +2.1pp +0.7pp 24.1% 3.6% 207.1 22.0% 2.9% 152.6 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q3 2020 Q3 202
Slide 10: Engagement levels in our digital channels continue to rise
ENGAGEMENT LEVELS IN OUR DIGITAL CHANNELS CONTINUE TO RISE 10 YoY growth of our key IB&MB metrics in Q3: Active retail digital users 1 (‘000) 46% 49% 49% 53% 52% 56% +9.7%/+10.7% +1.8pp +7pp +10.7% +2.5%/+2.3% DAU/MAU Penetration ratio Active users To 41.3% To 56% To 704K 688 704 636 637 653 595 New
Slide 11: Successfully offloading our business to remote channels
SUCCESSFULLY OFFLOADING OUR BUSINESS TO REMOTE CHANNELS 11 Fast growth in retail remote transactions1 (mln) Sales offloading in remote channels continues to increase 97% 97% 97% +24.8% +6.0% 71% 71% 74% 35.1 37.2 29.8 26.3 24.6 52% 18.2 44% 35% 7.2 6.8 7.0 1.2 11.6 1.2 10.5 1.2 10.9 Q3 2020 Q2 2021
Slide 12: Continued solid growth of our Georgian payments business
CONTINUED SOLID GROWTH OF OUR GEORGIAN PAYMENTS BUSINESS 12 Number of transactions1 (mln) Volume of transactions1 (bln GEL) +20.3% +36.2% +5.1% +10.3% 88.1 92.6 77.0 6.4 5.8 4.7 Q3 2020 Q2 2021 Q3 2021 Q3 2020 Q2 2021 Q3 2021 Active merchant terminals +24.6% +3.5% Strong base of our payments busines
Slide 13: Continue Uzbek expansion in partnership with IFC and EBRD
CONTINUE UZBEK EXPANSION IN PARTNERSHIP WITH IFC AND EBRD 13 In October 2020 we successfully launched TBC UZ, a digital commercial bank in Uzbekistan. TBC UZ operates by leveraging TBC’s innovative and scalable fintech platform Space, which offers retail banking solutions through the mobile app. Str
Slide 14: TBC UZ grows rapidly across all key metrics
TBC UZ GROWS RAPIDLY ACROSS ALL KEY METRICS 14 First digital bank in Uzbekistan Registered users and downloads (‘000) 897 1,040 747 555 785 391 667 284 547 71 103 189 403 29 230 302 98 157 28 68 Jan'21 Feb'21 Mar'21 Apr'21 May'21 Jun'21 Jul'21 Aug'21 Sep'21 Oct'21 # of total registered users # of do
Slide 15: Expanding our payments business in Uzbekistan
EXPANDING OUR PAYMENTS BUSINESS IN UZBEKISTAN 15 Payme TBC UZ2 the second largest payments provider in Uzbekistan1 Newly launched, fast growing digital bank • Payme supplies high-quality payment solutions to its • TBC Bank offers multiple payments solutions 4.0 mln registered users and 0.9 mln activ
Slide 16: Contents: Financial Results
CONTENTS 16 Q3 2021 Business Appendices Financial update Results
Slide 17: Another quarter of robust profitability
ANOTHER QUARTER OF ROBUST PROFITABILITY 17 Net profit (mln GEL) ROE 23.8% 26.0% 24.6% +35.7% +7.6pp1/+2.1pp -17.3% -3.8pp1/-6.9pp 34.7% 31.0% 30.9% 23.3% 24.1% 22.0% 250.4 207.1 152.6 Q3 2020 Q2 2021 Q3 2021 Q3 2020 Q2 2021 Q3 2021 Bank’s standalone ROE2 ROE Pre-provision ROE ROA +1.5pp1/+0.7pp • Re
Slide 18: Growing operating income based on diversified earnings stream
GROWING OPERATING INCOME BASED ON DIVERSIFIED EARNINGS STREAM 18 Total net interest income (mln GEL) NIM evolution YoY 4.6% 5.0% 5.3% +22.5% +6.8% 242.8 259.4 211.8 Q3 2020 Q2 2021 Q3 2021 Q3 2020 Loan yield Loan Liabilities Other Q3 2021 effect composition effect effects Total net interest income N
Slide 19: Investing into the future while maintaining high efficiency
INVESTING INTO THE FUTURE WHILE MAINTAINING HIGH EFFICIENCY 19 Total operating expenses (mln GEL) Cost to income +16.8% -3.1pp/-7.4pp1 -2.2% 0.0pp/-2.8pp1 134.7 131.7 112.8 38.5% 19.3 20.0 35.4% 35.4% 33.2% 17.3 37.6 28.6% 37.1 25.8% 33.2 62.3 77.8 74.6 Q3 2020 Q2 2021 Q3 2021 Q3 2020 Q2 2021 Q3 202
Slide 20: Strong asset quality
STRONG ASSET QUALITY 20 NPLs NPL coverages -0.4pp -0.3pp 180% 170% 169% 3.5% 3.4% 3.1% 75% 79% 75% 105% 91% 94% 30-Sep-20 30-Jun-21 30-Sep-21 30-Sep-20 30-Jun-21 30-Sep-21 Provision coverage Collateral coverage Impairment charge (mln GEL) 0.2% -0.1% • NPL improved across all segments, mainly driven
Slide 21: Accelerated credit growth with strong customer inflows
ACCELERATED CREDIT GROWTH WITH STRONG CUSTOMER INFLOWS 21 Gross loan portfolio breakdown (mln GEL) Deposit portfolio breakdown (mln GEL) 39.3 38.1 38.4 38.3 37.8 40.1 +9.4%/+12.6%1 +16.2%/+20.0%1 +4.5%/+5.7%1 +11.4%/+12.5%1 15,275 15,964 14,339 14,591 12,870 12,343 3.3% 23.6% 24.2% 24.3% 1.9% 10.0%
Slide 22: Solid capital buffers
SOLID CAPITAL BUFFERS 22 Capital Adequacy Ratios as of 30 September 2021 CET 1 CAR +3.5pp 19.3% +0.4pp 15.4% 13.0% 13.4% 13.4% 17.9% 9.9% 13.5% 11.3% 11.3% 11.2%1 6.9% CET 1 CAR Tier 1 CAR Total CAR 30-Sep-20 30-Jun-21 30-Sep-21 Min. requirements Min. requirements CET 1 movement on a QoQ basis -0.4%
Slide 23: Strong liquidity and diversified funding base
STRONG LIQUIDITY AND DIVERSIFIED FUNDING BASE 23 Liability structure Liquidity ratios1 as of 30 September 2021 3.2% 97% 103% 97% 16.6% 127% 124% 131% 127% 127% 7.4% 116% 2.0% 100% 100% 100% 70.8% 30-Sep-20 30-Jun-21 30-Sep-21 Net Loans to Deposits and IFI Funding NSFR LCR LCR and NSFR limit Customer
Slide 24: Reiterating our mid-term targets
REITERATING OUR MID-TERM TARGETS 24 Target Drivers Actual performance Q3 2021 10-15% Retail and MSME segments 9.4%/12.6%1 YoY Annual loan book growth (gross) 20%+ Strong income generation, high efficiency and normalized CoR 24.1% ROE2 Increased digitalization and <35% Cost to income ratio3 streamlin
Slide 25: Our strategic priorities
OUR STRATEGIC PRIORITIES 25 OUR STRATEGIC PRIORITIES Maintain robust Diversify our fee Continue steady Harness high Leverage our profitability and and commission growth in growth advanced solid balance income streams Georgia potential of digital sheet Uzbek market capabilities to achieve high effici
Slide 26: Contents: Our value proposition
CONTENTS 26 Q3 2021 Business Appendices Financial update Our value proposition Results
Slide 27: TBC Bank value proposition
TBC BANK VALUE PROPOSITION 27 OUR MISSION: MAKE LIFE EASIER FINANCIAL SERVICES WITH STRONG FOCUS ECOSYSTEMS ON DIGITAL Revenue – GEL 1.1 bln Net profit - GEL 684.2 mln Revenue1 – GEL 96.063 mln up by 35% YoY 1 Net Profit – GEL 37.4 mln up by 36% YoY Book Value – GEL 3.4 bln Total Assets – GEL 23.6 b
Slide 28: Our customer centric ecosystems
OUR CUSTOMER CENTRIC ECOSYSTEMS 28 OUR CUSTOMER CENTRIC ECOSYSTEMS 50%1 58%1 Why ecosystems? • Network effect - capitalizing on increased number of users and participants-1.65 mln unique visitors in 2021; • Lead generation / financing on marketplaces -generated 62%1 81%1 10K leads in September. (1)
Slide 29: Contents: Loan portfolio quality
CONTENTS 29 Q3 2021 Business Appendices Financial update Loan portfolio Results quality
Slide 30: Borrowers with FX income
BORROWERS WITH FX INCOME 30 30 September 2021 of which borrowers % of FX loans with FX income1 Retail 44.3% 38.2% Non-mortgage 15.4% 29.3% Mortgage 59.4% 39.4% CIB 68.4% 59.9%2 MSME 50.1% 11.0% Total 54.9% 42.5% (1) FX income implies both direct and indirect income for legal entities, the % of loan
Slide 31: NPLs: Total portfolio
NPLs: TOTAL PORTFOLIO 31 NPLs PAR 30 4.7% 4.8% 3.5% 3.4% 3.1% 2.6% 2.2% 2.5% 2.3% 1.7% Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 NPL coverage ratios 2.0% • In Q3, NPL improved across all segments, mainly driven by resumed 0.2% 0.5% -0.1% -1.3% repayments from restructured
Slide 32: NPLs: Retail portfolio
NPLs: RETAIL PORTFOLIO 32 NPLs PAR 30 5.8% 6.0% 4.0% 3.5% 3.1% 3.0% 3.4% 3.6% 2.7% 1.6% Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 NPL coverage ratios 2.0% • In Q3, the improvement in NPL ratio was driven by resumed repayments 0.1% 0.7% -0.2% -0.1% from restructured mortga
Slide 33: NPLs: CIB portfolio
NPLs: CIB PORTFOLIO 33 NPLs PAR 30 1.2% 2.6% 2.4% 2.2% 0.3% 0.5% 1.6% 1.5% 1.0% 1.2% Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 NPL coverage ratios • The NPL ratio continued the declining trend since the previous quarter, with a slight decrease of 0.1pp. 0.0% 0.2% -0.2% -0
Slide 34: NPLs: MSME portfolio
NPLs: MSME PORTFOLIO 34 NPLs PAR 30 6.5% 6.9% 5.2% 5.4% 4.7% 3.7% 3.8% 3.9% 4.6% 2.9% Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 NPL coverage ratios 3.9% 0.4% 0.9% 0.1% • The improvement in NPL ratio in Q3 2021 was driven by resumed -1.8% repayments from restructured custo
Slide 35: Strong collateralization and low LTVs across segments
STRONG COLLATERALIZATION AND LOW LTVs ACROSS SEGMENTS 35 75% of the loan book is secured by cash, gold and real LTVs by segments as of 30 September 2021 estate as of 30 September 2021 2%1% 3% Cash Cover 22% Gold 56% 58% 55% 52% Inventory Other Total Retail Corporate MSME Real Estate Unsecured 72% •
Slide 36: Loan book breakdown by stages according to IFRS 9
LOAN BOOK BREAKDOWN BY STAGES ACCORDING TO IFRS 9 36 Total: gross loan (mln) & LLP ratio1 Retail: gross loan (mln) & LLP ratio1 3.7% 15,275 3.1% 15,964 2.9% 14,591 763 670 34.9% 5.4% 4.8% 5,951 4.4% 474 34.7% 34.4% 5,719 1,737 2,303 1,803 5.7% 5,697 8.2% 5.6% 42.5% 387 41.4% 321 42.5% 163 958 519 56
Slide 37: Macroeconomic assumptions for IFRS provisioning
MACROECONOMIC ASSUMPTIONS FOR IFRS PROVISIONING 37 Baseline scenario – 60% weight (growth rates YoY, %) Macroeconomic Assumptions 2021 2022 2023 • In Q2 2021, the Bank has updated three macroeconomic scenarios to estimate expected credit losses (ECL). Scenarios include the projections of macroeconom
Slide 38: We maintain our earlier projection of higher than 10% growth
WE MAINTAIN OUR EARLIER PROJECTION OF HIGHER THAN 10% GROWTH 38 Major macro variable 2021 2022 projections for 2021 - 2022, YoY, % Q2 Projections Updated Q2 Projections Updated EXPORTS1 +23.5 +23.5 +12.0 +12.0 +138.7 / +126.3 / +128.6 / +113.3 / TOURISM1 -60 rel. to 2019 -62.5 rel. to 2019 -10 rel.
Slide 39: Minimum regulatory capital requirements with restored buffers
MINIMUM REGULATORY CAPITAL REQUIREMENTS WITH RESTORED BUFFERS 39 As a result of the COVID-19 pandemic, the NBG implemented certain countercyclical 30 September 2021 31 December 2021 31 December 2022 31 December 2023 measures in relation to capital adequacy requirements: CET 1 Tier 1 Total CET 1 Tier
Slide 40: CET 1 reconciliation with IFRS equity
CET 1 RECONCILIATION WITH IFRS EQUITY 40 • 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. The main difference between loan loss provisi
Slide 41: Contents: Macro update
CONTENTS 41 Q3 2021 Business Appendices Financial update Macro update Results
Slide 42: Prudent monetary and fiscal policy in Georgia
PRUDENT MONETARY AND FISCAL POLICY IN GEORGIA 42 The GEL REER, daily estimates Monetary policy rate and annual inflation (%) (% deviation from period average, as of October 26, increase means GEL appreciation) 13 12.3 Monetary policy rate Inflation • The GEL remained broadly stable 1.76; 2.21 12 15
Slide 43: Uzbekistan macro update
UZBEKISTAN MACRO UPDATE 43 Real GDP growth in Uzbekistan YoY CPI and policy rate in (%, YoY) Uzbekistan (%) 8.8 21 7.2 19 • Strong and resilient economic 5.8 6.0 17 14.0 growth 5.7 5.4 4.6 15 1.4 3.9 3.0 13 11 • The diversified economy results in 9 10.8 -2.5 7 resilience 5 • May-17 May-18 May-19 May
Slide 44: Retail and MSME credit growth is promising in Uzbekistan
RETAIL AND MSME CREDIT GROWTH IS PROMISING IN UZBEKISTAN 44 Loans to GDP Retail loans in Uzbekistan (%) (In USD terms) 1.8 1.5 32.3% 1.5 1.7 4.4 4.7 2.5 3.7 4.7 4.7 26.5% 25.8% 3.3 3.8 23.2% 35.1 33.9 2.7 3.1 2.5 3.1 32.1 30.7 bn bn bn bn 2018 2019 2020 Sep-21 2020 Sep-21 2020 Sep-21 Other loans to
Slide 45: Contents: TBC positioning in banking sector
CONTENTS 45 Q3 2021 Business Appendices Financial update TBC positioning in banking Results sector
Slide 46: Leading position in an attractive market
LEADING POSITION IN AN ATTRACTIVE MARKET 46 Top 10 largest banks by loans in Georgia, as at 30 September 2021 (GEL mln) 38.4 36.0 4.6 3.7 3.3 2.9 2.8 2.4 2.3 1.5 15,725 14,770 1,887 1,527 1,366 1,209 1,137 982 934 631 TBC BOG Liberty VTB Procredit Credo Basis Cartu Tera Halyk Domestic Domestic Domes
Slide 47: ESG ratings and scores
ESG RATINGS AND SCORES 47 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 48: Contents: Financial and operational performance details
CONTENTS 48 Q3 2021 Appendices Business Financial Financial and operational update performance details Results
Slide 49: Loan book growth across all segments YoY
LOAN BOOK GROWTH ACROSS ALL SEGMENTS YoY 49 Gross loan portfolio breakdown (mln GEL) Retail banking gross loans (mln GEL) 39.3 38.1 38.4 39.8 38.3 38.2 +9.4%/+12.6%1 +4.5%/+7.0%1 +4.5%/+5.7%1 +4.1/+5.0%1 15,275 15,964 14,591 23.6% 24.2% 24.3% 5,697 5,719 5,951 37.4% 38.3% 38.4% 3,670 3,796 3,911 39.
Slide 50: Customer deposits growth across all segments YoY
CUSTOMER DEPOSITS GROWTH ACROSS ALL SEGMENTS YoY 50 Deposit portfolio breakdown (mln GEL) Retail banking deposits (mln GEL) 38.3 37.8 40.1 38.3 39.6 40.2 +16.2%/+20.0%1 +18.9%/+23.5%1 +11.4%/+12.5%1 +5.5%/+6.8%1 12,870 14,339 12,343 3.3% 6.9% 1.9% 10.0% 10.6% 10.8% 5,594 4,706 5,301 46.1% 47.7% 44.4
Slide 51: Balance sheet structure
BALANCE SHEET STRUCTURE 51 Assets Structure (mln GEL) Liabilities Structure (mln GEL) +7.3% +8.0% 120 .0% 120 .0% 21,867 22,092 23,701 19,041 18,754 20,253 100 .0% 100 .0% 6.7% 6.4% 8.3% 21.7% 18.6% 16.6% 12.2% 9.2% 9.5% 80. 0% 9.9% 80. 0% 3.4% 3.1% 9.4% 9.1% 3.6% 60. 0% 60. 0% 64.8% 68.6% 70.8% 40.
Slide 52: FX exposure of loan and deposit portfolios
FX EXPOSURE OF LOAN AND DEPOSIT PORTFOLIOS 52 Gross Loans Deposits 1% 1% 1% 9% 9% 10% 27% 25% 24% 31% 31% 53% 56% 52% 35% 44% 45% 38% 37% 34% 37% 30-Sep-20 30-Jun-21 30-Sep-21 30-Sep-20 30-Jun-21 30-Sep-21 GEL Loans USD Loans EUR Loans GEL USD EUR Other
Slide 53: Funding repayment ladder
FUNDING REPAYMENT LADDER 53 Debt securities, subordinated and senior loans’ principal amount repayments by years (USD mln)1 511.3 440.2 177.8 191.3 5.0 35.7 100.6 29.0 95.72 59.8 80.1 172.8 126.6 1.1 75.0 100.6 16.5 65.4 37.0 22.5 70.0 43.3 16.1 7.5 14.7 0.0 4.6 2021 2022 2023 2024 2025 2026 2027 20
Slide 54: Sensitivity analysis and FC details for selected P/L items
SENSITIVITY ANALYSIS AND FC DETAILS FOR SELECTED P/L ITEMS 54 Sensitivity analysis The share of selected FC denominated P/L Items of Q3 2021 10% Currency FC % of respective Depreciation Effect totals NIM -0.14% Interest income 33% Technical cost of risk +0.12% Interest expense 39% Net interest incom
Slide 55: TBC Insurance standalone performance
TBC INSURANCE STANDALONE PERFORMANCE 55 Net Earned Premium 1 & GWP (thousand GEL) Gross Written Premium distribution by products 21.0% As of 30 September 2021 36.9% 16.7% 32.2% 25.6%2 39.6%2 +23.6%/+33.8% +3.4%/+9.2% 2%6% Life & PA 13% 29% Motor 26,414 28,851 21,557 21,539 22,268 Property 18,015 Hea
Slide 56: Loan yields and deposit costs by segments
LOAN YIELDS AND DEPOSIT COSTS BY SEGMENTS 56 Total portfolio: loan yield and deposit cost CIB: loan yield and deposit cost 9.0% 9.1% 8.5% 8.4% 8.7% 10.0% 10.2% 10.2% 10.5% 9.8% 4.4% 4.2% 4.0% 4.5% 3.9% 3.7% 3.6% 3.5% 3.4% 3.5% Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Total Loan Yi
Slide 57: Contents: Key ratios and financial statements
CONTENTS 57 Q3 2021 Business Appendices Financial update Key ratios and financial Results statements
Slide 58: Balance sheet
BALANCE SHEET 58 In thousands of GEL 30-Sep-21 30-Jun-21 30-Sep-20 Cash and cash equivalents 1,960,441 1,414,414 1,454,973 Due from other banks 2,160,742 2,176,471 2,064,021 Net Loans 15,504,312 14,796,968 14,055,807 Investment securities measured at fair value through other comprehensive income 2,2
Slide 59: Profit & loss statement
PROFIT & LOSS STATEMENT 59 In thousands of GEL Q3 2021 Q2 2021 Q3 2020 Interest income 476,635 458,573 426,232 Interest expense (226,990) (223,456) (217,640) Net gains on currency swaps 9,745 7,650 3,191 Net interest income 259,390 242,767 211,783 Fee and commission income 122,690 105,046 87,679 Fee
Slide 60: Selected ratios calculated based on monthly averages
SELECTED RATIOS CALCULATED BASED ON MONTHLY AVERAGES 60 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 61: Ratio definitions
RATIO DEFINITIONS 61 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 62: Segment definitions
SEGMENT DEFINITIONS 62 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 63: 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