TCS Group’s first half net profit was the lowest in five years

TCS Group (the main asset is Tinkoff Bank) announced that net profit in the first half of 2022 was at the lowest level in five years. The interest income of the group in the II quarter increased by 31%, to 52.2 billion rubles. year on year, according to the report (.pdf) companies. GDR TCS Group decreased by 4.3% on the Moscow Exchange after the publication of financial results.

“The group remains profitable. In the first half of 2022, net income declined significantly year-on-year. The company continued to be profitable in both quarters of 2022, although its half-year net income hit its lowest level in five years. However, the group does not give the exact amount of net income.

At the end of 2021, the total revenue of TCS Group increased by 40% and amounted to 273.9 billion rubles. Net profit for the year increased by 43% and amounted to 63.4 billion rubles.

April 28 reportedthat Interros Capital Ltd, owned by Norilsk Nickel co-owner Vladimir Potanin, bought from Oleg Tinkov’s family a 35% stake in TCS Group, which, in addition to Tinkoff Bank, owns Tinkoff Insurance.

In May, TCS Group announced that will not pay dividends until the end of 2022.

Maria Fedotova