TBC Bank Group PLC (TBCG) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, everybody, for joining our first quarter results call this afternoon. As usual, I'm joined on the call by our CEO, Vaktan Butskirikidze, and our CFO, Georgi Megrelishvili. And we'll also be joined today by our head of international, Oliver Hughes, who'll join for the Q&A part of the call. As usual, we'll have a presentation, first of all, and then we'll move to Q&A. And with that, I'll hand over to Vaktan. Thank you. Thank you, Andrew. Good afternoon, everyone, and thanks for joining our first quarter financial results conference call. I'm happy to start our call with some good news. Our board has approved quarterly dividend distributions to enhance shareholder value through more regular terms. As a result, the board has declared an interim dividend of 1.5 lari per share for the first quarter of 2025. Moving to our quarterly results, slide 4 presents some of the key financial and operations highlights from the first quarter of this year. I am pleased to report a strong start of 2025, which is particularly welcome given the uncertain global backdrop. Our net profit reached 319 million Lari, up by 7% year-on-year. At the same time, the Group's return of equity in the first quarter was about 23% in line with our medium-term guidance. In Georgia, we maintained a high profitability with an excellent return of equity of 23.3%. Double GDP growth in our loan book was to maintain a solid capital position during the volatile times. Over the same period, Uzbekistan's loans and operating income both more than doubled year on year and I am delighted to report that as of April, we have more than 20 million unique registered users there, which is more than a half of Uzbekistan's population. In the first quarter in TBC Uzbekistan recorded a non-recurring impairment charge...