TCS Group’s net profit under IFRS in the third quarter increased to 23.6 billion rubles – Kommersant
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TCS Group (owner of Tinkoff Bank) earned 23.6 billion rubles in the third quarter of 2023. according to IFRS, follows from (.pdf) report published on the company’s website. The volume of the group’s loan portfolio reached 887.7 billion during the reporting period, an increase of 46.4% since the beginning of the year.
TCS Group said in a statement that its third-quarter profit increased by 15.7% year-on-year and almost quadrupled year-on-year. For January-September, the group’s net profit amounted to 60.2 billion rubles, which is 5.7 times more than for the same period in 2022, follows from the report.
TCS Group’s net interest income in the third quarter of 2023 amounted to RUB 61.8 billion. During the reporting period, 13.9 billion rubles were spent on reserves. The company’s net commission income amounted to 18.9 billion. The volume of the group’s deposit portfolio in July-September exceeded 1.38 trillion rubles, which is 6% more than in the second quarter and 16% more than at the beginning of the year.
In November, TCS Group renewed its board of directors, reducing it to three people. A quorum of two directors is sufficient to make decisions. Lawyers call the measures “insurance and preparatory” for the main shareholder of TCS Group of the Interros holding Vladimir Potanin before the planned re-registration of the group from the jurisdiction of Cyprus. Interros owns 35.08% of the group. Approximately 65% of the company’s shares are in free float.
More details in the material “Troika for TCS Group”.
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