Tbc Bank Group Plc · LSE:TBCG
Tbc Bank — Q3 2023 Earnings Presentation
73 slides from Tbc Bank's earnings presentation, 2023
Slide 1: Q3 and 9M 2023 Results Call Presentation
Q3 AND 9M 2023 RESULTS CALL PRESENTATION 2023 1
Slide 2: Q3 AND 9M 2023 RESULTS CALL PRESENTATION
Q3 AND 9M 2023 RESULTS CALL PRESENTATION 2
Slide 3: LSE premium listed company and FTSE250 constituent
LSE premium listed company and FTSE250 constituent 5% 25.9% GEL c.170 mln Share in Group ROE for Georgian Annualised GMV net profit financial services 3.7 mln 1.6 mln 3.7 mln MAU MAU +30% YoY # of transactions Q3 AND 9M 2023 RESULTS CALL PRESENTATION 3
Slide 4: High profitability, strong digital delivery, Uzbek fintechs
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 27.6% +17% +11% GEL 632 mln 4.5 mln ROE YoY loan YoY deposit +2.4x YoY +41% YoY growth1 growth 1 Gross loan book
Slide 5: Net profit, ROE, gross loans, cost to income
Net profit (GEL mln) ROE -6% -6.0pp 321.0 33.6% 300.5 27.6% Q3 2022 Q3 2023 Q3 2022 Q3 2023 Gross loans (GEL bln) Cost to income +17% / +19%1 +5.5pp 35.4% 20.4 29.9% 17.4 Q3 2022 Q3 2023 Q3 2022 Q3 2023 (1) Growth rate at constant currency Q3 AND 9M 2023 RESULTS CALL PRESENTATION 5 Source: IFRS Grou
Slide 6: Economic growth remains robust at 6.8% in 9m
$ € £ Economic growth Well-diversified FX Central bank reserves Low inflation is remains robust at 6.8% inflows are normalizing are at record $5.3 bln enabling monetary in 9m from record highs easing Q3 AND 9M 2023 RESULTS CALL PRESENTATION 6
Slide 7: Exports, tourism, remittances and FDI inflows; real GDP growth
Real GDP Growth Exports, Tourism, Remittances and FDI Inflows, mln USD 5000 Export Tourism Remittances FDI 10.5 10.1 4500 IT Service Export Inflow 4000 7.7 7.5 Inflow w/o Russia 6.6 3500 5.0 5.4 3000 2500 % 2000 2019 2020 2021 2022 Q1 2023 Q2 2023 Q3 2023 2023 1500 1000 500 0 -6.8 2020Q2 2023Q1 2016
Slide 8: Inflation, monetary policy and central bank reserves
Annual Inflation and monetary policy rate (%) NBG’s reserves, FX interventions (mln USD) and USD/GEL (EOP) 16 3.3 3.1 14 2.9 2.7 2.7 12 9.75 10 5,273 8.5 4,902 8 4,272 3,911 3,506 6 4.1 4 1,390 565 2 1.1 72 0 -355 Feb-20 Aug-20 Jun-22 Dec-22 Jun-20 Jun-23 Dec-20 Jun-21 Dec-21 Dec-23 Jun-24 Dec-24 Au
Slide 9: Business update
CONTENTS Business update Q3 and 9M 2023 Financial Results Appendices
Slide 10: Group retail monthly active users and digital users
Group retail monthly active users (mln) 1 Group digital users (mln)1 34% 37% 31% 33% 32% +36% +27% / +41% 5.1 5.1 5.3 4.4 3.9 1.5 1.6 1.6 1.5 1.4 4.4 4.3 4.5 3.8 3.6 3.5 3.7 3.2 2.5 2.9 1.1 1.4 1.4 1.4 1.4 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Uzbekistan Georgia DAU M
Slide 11: Retail, CIB and MSME segment highlights
RETAIL CIB 1 38.0% 36.6% 40.5% 38.5% Loan market share1 Deposit market share1 Loan market share1 Deposit market share1 +9% +21% +27% +15% YoYloan growth2 YoYdeposit growth2 YoY loan growth 2 YoYdeposit growth2 GEL 19.7 bln Gross loans +17% YoY2 MSME 77% +25% +22% 71% +15% YoYloan growth2 YoYdeposit
Slide 12: Payments business net revenue
Net revenue from payments business (mln GEL) Payments business net revenue by transaction types +15% Card operations Bill payments 71 69 GEL 69 mln P2P transfers 60 60 61 Q3 2023 B2B transfers Other Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2022 Q3 key operating highlights 0.9mln +15% YoY 31k +12% YoY 67%
Slide 13: Marketplaces market shares: housing, lifestyle, auto, e-commerce
LIFESTYLE HOUSING 79% 51% E-COMMERCE AUTO 68% Market shares1 81% Q3 AND 9M 2023 RESULTS CALL PRESENTATION 13 (1) Source: Similarweb market shares are calculated based on number of unique visitors as of 30 September 2023
Slide 14: GMV growth and breakdown
GMV1 growth (GEL mln) GMV breakdown 16% 15% 15% 12% 13% +55% Lifestyle Housing 53 GEL 45 mln E-commerce 45 Q3 2023 Ads, data & leads 29 32 30 Auto Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Gross profit/GMV Q3 key operating highlights 5K # loan disbursed 3.7 mln # transactions 3.3 mln # listings 4% sha
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 – Payme revenue and profit up over 40% YoY
UZBEKISTAN – PAYME REVENUE AND PROFIT UP OVER 40% YoY Number of users (mln) Financials (GEL mln) 7.4 8.2 9.0 9.9 10.7 +43% / +43% +41% / +45% 17.6 16.5 16.8 16.9 12.0 3.1 12.8 2.9 3.0 11.6 2.5 10.3 2.1 10.9 7.5 0.7 0.9 0.9 1.0 1.0 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3
Slide 17: 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) +67% / +75% +2.2x 37.4 31.5 23.6 3.5 16.7 18.5 3.0 2.7 2.4 2.1 1.1 2.2 2.8 0.4 0.5 0.6 0.7 (1.1) 0.4 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 # of total register
Slide 18: Q3 and 9M 2023 Financial Results
Q3 and 9M 2023 Financial Results 18
Slide 19: Net profit and ROE
Net profit (mln GEL) ROE 27.9% 25.9% 32.5% 27.8% 26.4% -6% -6.0pp +9% +3% -1.6pp -0.5pp 848.5 33.6% 779.6 321.0 293.1 300.5 28.6% 28.1% 27.6% 27.0% 9M 2022 9M 2023 Q3 2022 Q2 2023 Q3 2023 9M 2022 9M 2023 Q3 2022 Q2 2023 Q3 2023 ROE for Georgian financial services • Group net profit increased by 9% Y
Slide 20: Total revenue and non-interest income
Total revenue (mln GEL) Non-interest income (mln GEL) +4% -25% +18% +5% +1% -0% 1,734.2 533.9 540.2 1,466.5 46.7 49.0 540.2 249.2 615.2 17.7 533.9 589.6 586.7 189.0 187.4 187.3 259.9 187.4 187.3 20.5 16.1 249.2 145.6 61.3 67.0 1,194.0 932.6 302.2 399.3 427.9 227.3 340.4 105.6 104.2 85.9 9M 2022 9M 2
Slide 21: Cost of funds, yields and NIM
NIM Cost of fund, cost of deposit, loan and asset yields +0.6pp +0.8pp +0.1pp 12.8% 12.6% 11.9% 12.6% 11.4% 12.2% 12.1% 11.2% 12.0% 10.6% 5.6% 5.4% 6.7% 6.8% 6.9% 4.8% 5.5% 6.3% 4.8% 4.9% 4.9% 5.9% 3.9% 4.9% 3.8% 9M 2022 9M 2023 Q3 2022 Q2 2023 Q3 2023 9M 2022 9M 2023 Q3 2022 Q2 2023 Q3 2023 Total f
Slide 22: Total operating expenses and cost to income
Total operating expenses (mln GEL) Cost to income 28.6% 30.7% 25.7% 30.2% 31.5% +24% +5.5pp +23% +7% -1.4pp +0.7pp 604.4 218.1 87.2 203.6 490.8 29.3 176.2 29.6 74.0 26.7 184.0 67.7 65.3 145.7 54.9 33.5% 34.9% 121.1 34.7% 35.4% 271.1 333.2 108.7 29.9% 94.6 9M 2022 9M 2023 Q3 2022 Q2 2023 Q3 2023 9M 2
Slide 23: NPLs and cost of risk
NPLs Cost of Risk 164% 100% 154% 89% 152% 88% 0.7% 0.9% 0.9% -0.3pp -0.1pp 1.0% 0.9% 0.9% 0.7% 0.6% 2.3% 2.1% 2.0% 30-Sep-22 30-Jun-23 30-Sep-23 9M 2022 9M 2023 Q3 2022 Q2 2023 Q3 2023 NPLs/Gross loans Total NPLs coverage1 Provision coverage Cumulative CoR YTD • In Q3 2023 our asset quality remained
Slide 24: Gross loan and deposit portfolio breakdown
Gross loan portfolio breakdown (bln GEL) Deposit portfolio breakdown (bln GEL) 38.8 38.8 39.1 40.0 39.9 37.5 +15%/+17%1 +10%/+11%1 +5%/+4%1 -2%/-3%1 19.7 18.6 18.3 18.8 16.8 17.1 1.0 0.6 4.9 5.2 1.3 1.6 1.7 4.6 1.6 9.0 8.9 5.9 7.0 7.4 7.8 6.1 7.0 7.1 6.6 6.9 7.1 30-Sep-22 30-Jun-23 30-Sep-23 30-Sep-
Slide 25: Capital adequacy ratios as of 30 September 2023
Capital adequacy ratios as of 30 September 2023 CET 1 CAR 3.1pp 3.1pp 2.4pp -0.8pp 22.3% 19.9% 18.3% 17.5% 17.5% 19.9% 16.8% 14.4% 14.4% 14.4% CET1 Tier1 Total 30-Jun-23 30-Sep-23 Min. requirements Above min. requirements by • As of 30 September 2023, our capital ratios remained at prudent levels an
Slide 26: Uzbekistan P&L and balance sheet highlights
Financial highlights Uzbekistan P&L and balance sheet highlights 1 Q3 2023 Q3 2023 TBC UZ Total GEL mln 23.4% 20.9% Operating income 37.4 16.9 54.3 ROE NIM Total provision charges (11.2) (0.0) (11.2) Operating expenses (22.2) (6.0) (28.2) Profit before tax 4.0 10.9 14.9 7.3% 2.1% Cost of risk NPLs I
Slide 27: Targets vs actual performance 9M 2023
TBC Group Uzbekistan Target Actual performance 9M 2023 Target Actual performance 9M 2023 7 mln 4.5 mln1 5 mln + 3.7 mln Digital monthly active users (Digital MAU) 1 Digital monthly active users (Digital MAU) GEL 1.5 bln, 15%+ CAGR 9% YoY 80% + +2.4x YoY Net profit Loan CAGR 23% + 27.0% GEL 200+ mln
Slide 28: Appendices: Georgia and Uzbekistan macro
CONTENTS Appendices Georgia and Uzbekistan macro Q3 and 9M 2023 Financial Results Business update
Slide 29: Georgia overview, GDP composition, ratings
Overview 2023 Q2 GDP Composition Trade (15%) 15% Real estate activities (11%) 2017 2022 Change 17% Manufacturing (9%) Total population (mln) 3.7 3.7 -1% Construction (8%) 5% Agriculture (8%) GDP, $ bln 16.2 24.6 51% 11% 5% Public administration (7%) GDP per capita, $ (PPP) 13,596 20,244 49% Transpor
Slide 30: Export, import, FDI, tourism and remittance flows
Export and Import of Goods, FDI, Tourism and Remittance Share of countries in Exports, Tourism, Remittances and FDI flows, $ mln and CA % of GDP 20000 0 15000 -2 Russia, 18.8% EU*, 23.6% 10000 -4 -4.6 -5.3 -5.6 5000 -5.9 -6 Turkey, 8.0% -6.8 Last 12M 0 -8.1 -8 Other, 21.8% -5000 -10.1 -10 -10.4 Ukra
Slide 31: Gross international reserves, fiscal and public debt
Gross international reserves and NBG interventions, mln USD Fiscal and Public debt/GDP, % 70 1 6,000 1050 5,273 900 60 -0.8 -0.7 -1.1 -1.0 -1 -1.3 -1.2 5,000 -1.9 750 50 -2.5 -2.7 -3 4,000 600 40 450 -5 3,000 30 300 -6.3 -7 2,000 150 20 0 -9 10 -9.3 1,000 -150 0 -11 2013 2014 2015 2016 2017 2018 201
Slide 32: Macro forecasts: GDP, inflation, rates, FX
2021 2022 2023 2024 2025 GDP Growth, YoY, % 10.5 10.1 6.6 4.8 5.4 Inflation (EOP), YoY, % 13.9 9.8 1.1 4.1 3.0 Monetary Policy Rate (EOP), % 10.5 11.0 9.75 8.5 7.75 CA Balance, % of GDP -10.4 -4.0 -3.9 -4.6 -4.5 Budget Balance, % of GDP -6.3 -2.5 -2.8 -2.5 -2.3 Government Debt, % of GDP 49.4 38.5 37
Slide 33: Loan portfolio by currencies and credit to GDP
15 30 35 40 45 25 20 10% 50% 80% 30% 40% 100% 70% 60% 90% 0% 20% Nov-15 2015Q4 Jan-16 2016Q1 Mar-16 May-16 2016Q2 Jul-16 2016Q3 Sep-16 Nov-16 2016Q4 Jan-17 Source: Geostat, NBG, TBC Capital 2017Q1 Mar-17 May-17 2017Q2 Jul-17 2017Q3 Sep-17 Nov-17 2017Q4 Jan-18 2018Q1 Mar-18 GEL May-18 2018Q2 Jul-18 2
Slide 34: Top 10 largest banks by loans in Georgia
Top 10 largest banks by loans in Georgia, as of 30 September 2023 (GEL mln) 39.4 36.8 5.7 4.6 3.8 2.3 2.5 1.7 1.3 0.7 19,721 18,453 2,853 2,328 1,918 1,255 1,151 856 649 333 TBC BOG Liberty Basis Credo Tera Procredit Cartu Halyk Pasha Domestic Domestic Domestic Foreign Foreign Foreign Foreign Foreig
Slide 35: Uzbekistan overview, GDP composition, ratings
Overview 2023 3Q GDP Composition 2017 2022 Change Agriculture (30%) 11% Total population (mln) 32.1 35.3 10% Manufacturing (19%) 3% Construction (6%) GDP, $ bln 62.1 80.4 30% 4% 30% Trade (6%) 4% GDP per capita, $ (PPP) 6,898 9,634 40% Real estate activities (6%) Gross intl reserves, $ bln 28.1 35.8
Slide 36: Inflation and currency
INFLATION AND CURRENCY CPI Annual Inflation and Monetary Policy Rate, % UZS, Jan-2013 = 100, increase means UZS appreciation 120 25 100 20 80 15 14 60 49 10 9 40 5 20 17 0 0 Feb-20 Feb-21 Feb-22 Feb-23 Feb-13 Feb-15 Feb-17 Feb-16 Feb-14 Feb-18 Feb-19 Aug-20 Aug-21 Aug-22 Aug-23 Aug-16 Aug-19 Aug-13
Slide 37: Uzbekistan banking sector
UZBEKISTAN BANKING SECTOR Total Credit (at current exchange rate, trillion UZS) and Retail Credit, % 79.1 Credit to GDP, % 500 50 45 62.4 450 45 26.5 400 40 27.0 29.2 39.2 26.2 350 35 35.6 300 30 8.4 250 25 200 20 6.1 5.2 5.5 150 15 4.7 4.9 4.4 4.5 100 10 50 5 0 0 2013 2014 2015 2016 2017 2018 2019
Slide 38: 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 2-Nov) 70 3 7 2.2 2.0 2 60 1.9 6 1.1 1 50 0.7 5 10Y US treasury, 4.67 0 -0.3 -0.3 40 4 -1 Uzbekistan 2029, 30 3 2.994 -2 Georgia 2026, 2.824 20 2 -3 -3.3
Slide 39: Uzbek banks selected information as of 1 Oct 2023
1 As of 1 October 2023 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 40: Uzbek payment players feature comparison
information State/Private Private Private State Private State General Local/Foreign Foreign Local Local Local Local # of Registered Customers (mln) 10.7 11.0* > 6.0* > 4* > 1.5* P2P transfers ✓ ✓ ✓ ✓ ✓ Services and bill payments ✓ ✓ ✓ ✓ ✓ Local merchant acquiring ✓ ✓ ✓ ✓ ✓ QR payments (offline & onl
Slide 41: Appendices: Loan portfolio quality
CONTENTS Appendices Loan portfolio quality Q3 and 9M 2023 Financial Results Business update
Slide 42: NPLs and cost of risk by segments
NPLs Cost of risk by segments 2.3% 2.2% 2.2% 2.1% 2.0% 1.0% 0.6% 1.1% 0.6% 0.9% Retail Georgia 2.0% 0.5% 1.4% 0.5% 1.1% 3.5% 3.4% 3.4% 3.4% 3.3% CIB Georgia 0.0% 0.1% -0.1% 0.2% 0.0% 2.9% 2.2% 2.1% 2.2% 2.1% 2.3% 1.8% MSME Georgia 2.0% 2.0% 2.1% 1.8% 0.5% 0.9% 0.9% 0.9% 1.4% 1.4% 1.4% 1.3% 1.3% Uzbe
Slide 43: Loan book collateral and LTVs by segment
77% of the loan book is secured by cash, gold and real estate LTVs by segments as of 30 September 2023 as of 30 September 2023 1% 3% 3% Cash Cover 20% Gold 52% Inventory 47% 47% 44% Real Estate Unsecured 73% MSME Georgia Retail Georgia CIB Georgia Total • LTV of mortgage loans stood at 37.7% as of 3
Slide 44: Gross loans and LLP ratio by stage
Total: gross loans (mln) & LLP ratio1 Georgia: gross loans (mln) & LLP ratio1 LLP Ratio LLP Ratio LLP Ratio LLP Ratio LLP Ratio LLP Ratio 2.3% 19,361 1.8% 20,365 1.8% 2.3% 1.8% 1.7% 17,366 386 19,716 42.5% 395 40.3% 42.0% 41.3% 18,816 39.0% 40.3% 423 1,279 1,305 17,078 1,487 7.6% 7.8% 7.8% 7.6% 380
Slide 45: Share of foreign currency loans
of which exposures 30 September 2023 share of foreign with largely mitigated currency loans currency risk Retail 34% 30% Non-mortgage 10% 46% Mortgage 48% 28% CIB 66% 58% MSME 46% 9% Total 49% 39% • The Bank actively manages risks arising from foreign currency denominated loans through risk appetite
Slide 46: Appendices: Capital and liquidity
CONTENTS Appendices Capital and liquidity Q3 and 9M 2023 Financial Results Business update
Slide 47: CET1, Tier 1 and total capital requirements
Sep-23 Mar-24 Dec-24 Per IFRS Per IFRS Per IFRS • From March 2024, the countercyclical capital buffer will be increased from CET 1 14.4% 15.4% 15.4% 0% to 1% • No other changes are expected in the capital requirements in the foreseeable future Tier 1 16.8% 17.8% 17.8% Total 19.9% 21.0% 21.0% Source:
Slide 48: Liability structure and liquidity ratios
Liability structure Liquidity ratios 1 as of 30 September 2023 91% 252% 97% 224% Total liabilities GEL 25.5 bln 3.1% 13.1% 130% 125% 124% 5.6% Customer Deposits 114% Other Liabilities 4.7% Debt Securities in Issue 100% 100% Due to Credit Institutions Subordinated Debt 73.5% 30-Jun-23 30-Sep-23 Net l
Slide 49: Risk weighted assets and loan RWA density
Risk Weighted Assets Loan RWA density +1.3pp +6.8% 74% 74% 74% 75% 22,668 21,219 21,453 20,767 Dec-22 Mar-23 Jun-23 Sep-23 Dec-22 Mar-23 Jun-23 Sep-23 Q3 AND 9M 2023 RESULTS CALL PRESENTATION 49
Slide 50: Appendices: ESG
CONTENTS Business Q3 and 9M 2023 Appendices update Financial Results ESG
Slide 51: MSCI, ISS and FTSE4Good ESG ratings
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
Main priorities for 2023 Targets and current levels Sustainable loan portfolio 1 Focus on sustainable financing, services and products GEL 818 GEL 1 mln bln Target for 2023 2 Ensure employee diversity, equality and inclusion In Q3 2023 Measure the Group’s direct performance Share of women in middle
Slide 53: Appendices: Financial and operational performance details
CONTENTS Appendices Financial and operational performance details Q3 and 9M 2023 Financial Results Business update
Slide 54: Total dividend and share buyback
Total dividend and share buyback (GEL mln) 25% 25% 25% 25% 30% 35% 348 50 200 298 138 109 89 75 No dividends were paid due to COVID-19 2016 2017 2018 2019 2020 2021 2022 9M 2023 Total dividend paid for the year Share buyback Dividend payout ratio Dividend payout ratio incl. buyback 2023 capital dist
Slide 55: ROE, ROA, net profit and loan book history
Return on equity (ROE) Return on assets (ROA) 21.2% average ROE 3.2% average ROA 27.0% 3.9% 24.9% 3.8% 22.4% 22.0% 22.9% 3.3% 3.4% 3.4% 20.1% 20.9% 3.1% 3.2% 3.2% 18.4% 11.7% 1.6% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2014 2015 2016 2017 2018 2019 2020 2021 2022 Net profit (GEL mln) Loan book
Slide 56: Gross loan portfolio breakdown by segment
Gross loan portfolio breakdown (GEL bln) Retail Georgia banking gross loans (GEL bln) 38.8 38.8 39.1 38.4 38.2 38.0 +15%/+17%1 +8%/+9%1 +5%/+4%1 +3%/+2%1 18.8 19.7 17.1 4.9 5.2 4.6 6.6 6.9 7.1 5.9 7.0 7.4 4.5 4.1 4.4 6.6 6.9 7.1 2.5 2.5 2.6 30-Sep-22 30-Jun-23 30-Sep-23 30-Sep-22 30-Jun-23 30-Sep-23
Slide 57: Deposit portfolio breakdown by segment
Deposit portfolio breakdown (GEL bln) Retail Georgia banking deposits (GEL bln) 40.0 39.9 37.5 38.7 37.9 36.6 +10%/+11%1 +18%/+21%1 -2%/-3%1 +1%/+0%1 16.8 18.6 18.3 1.3 1.0 0.6 1.6 1.7 7.0 7.1 1.6 6.0 7.8 9.0 8.9 2.5 2.8 2.2 6.1 7.0 7.1 3.8 4.5 4.3 30-Sep-22 30-Jun-23 30-Sep-23 30-Sep-22 30-Jun-23 3
Slide 58: Assets and liabilities structure
Assets Structure (GEL bln) Liabilities Structure (GEL bln) 120 % 120 % 27.6 28.9 30.0 23.8 24.5 25.5 100 % 10% 100 % 14% 10% 9% 15% 13% 3% 10% 10% 3% 3% 8% 6% 80% 6% 80% 8% 60% 60% 72% 77% 74% 61% 66% 67% 40% 40% 20% 20% 9% 8% 8% 10% 10% 10% 0% 0% 30-Sep-22 30-Jun-23 30-Sep-23 30-Sep-22 30-Jun-23 30
Slide 59: Loans and deposits by currency
Gross Loans Deposits 2% 3% 4% 4% 4% 4% 8% 9% 9% 19% 20% 19% 45% 39% 41% 28% 28% 28% 51% 49% 49% 48% 46% 43% 30-Sep-22 30-Jun-23 30-Sep-23 30-Sep-22 30-Jun-23 30-Sep-23 GEL USD EUR Other GEL USD EUR Other Source: IFRS Group Data Q3 AND 9M 2023 RESULTS CALL PRESENTATION 59
Slide 60: Loan yields and deposit costs
Loan yields Deposit costs 44.2% 42.6% 43.6% 43.0% 41.9% 26.9% 25.3% 24.9% 23.6% 24.4% 12.4% 12.8% 12.6% 11.9% 12.1% 4.9% 4.9% 4.9% 12.0% 4.3% 11.5% 11.6% 11.7% 11.7% 3.9% 4.5% 4.5% 4.4% 3.9% 3.6% Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Total Loan Yield Georgian Loan Yield Uzbekis
Slide 61: Debt repayments by year
Debt securities, subordinated and senior loans’ principal amount repayments by years (USD mln)1 398.0 16.5 75.0 1.1 284.2 46.3 16.1 65.4 52.6 154.9 121.2 124.9 6.7 63.5 60.1 40.5 44.5 39.8 12.0 -- - - - - 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Senior Loans Sub Loans Debt Securities (
Slide 62: Sales and retail transactions offloading
Georgia TBC Group Good progress in sales offloading Good progress in sales offloading 82% 84% 71% 73% 80% 69% 69% 77% 65% 70% 79% 78% 77% 58% 76% 61% 70% 49% 50% 47% Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 consumer loans deposits consumer loans deposits Retail
Slide 63: Sensitivity analysis and FC-denominated P/L items
Sensitivity analysis The share of selected FC denominated P/L Items, Q3 2023 FC % of respective totals 10% Currency Depreciation Interest income 40% Effect* Interest expense 27% Regulatory CAR would decrease by: For Total capital would decrease by Net interest income 49% -0.59% For Tier 1 would decr
Slide 64: Appendices: Corporate governance
CONTENTS Appendices Corporate governance Business Q3 and 9M 2023 update Financial Results
Slide 65: 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 66: Governance structure and committees
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 67: Appendices: Key ratios, Uzbek financials and glossary
CONTENTS Appendices Key ratios, Uzbek financials and glossary Q3 and 9M 2023 Financial Results Business update
Slide 68: Group P&L
Change Change Change Q3 2023 Q2 2023 Q3 2022 9M 2023 9M 2022 YoY QoQ YoY P&L TBC Group (GEL mln) Net interest income 428 399 340 26% 7% 1,194 933 28% Net fee and commission income 104 106 86 21% -2% 302 227 33% Other operating non-interest income 83 82 163 -49% 1% 238 307 -22% Operating profit 615 5
Slide 69: 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 70: Ratios: Georgian financial services 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 71: 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 72: Terminology definition
Terminology Definition Georgian financial services includes JSC TBC Bank with its Georgian subsidiaries and JSC TBC Insurance, with Georgian Financial Services (Georgia FS) its subsidiaries. Uzbekistan includes: Uzbekistan (UZ) - The leading payment service provider, Payme (legal name - Inspired LLC
Slide 73: Contact investor relations
CONTACT INVESTOR RELATIONS Andrew Keeley Anna Romelashvili Investor Relations Director of Investor Relations and International Media 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