Tinkoff Bank SAR Financial Highlights Statement for January – November 2021


Declaration to Tinkoff Bank SAR Financial Highlights for January – November 2021

Moscow, Russia December 27, 2021. TCS Group Holding PLC (LI: TCS, MOEX: TCSG) (the “Group”), Russia’s leading provider of online financial and lifestyle services through its Tinkoff ecosystem, today announces unaudited financial highlights of Tinkoff Bank RAS for January – November 2021.

For the eleven months of 2021, the net result stood at RUB 46.9 billion against 30.5 billion RUB in January – November 2020.

It should be noted that RAS net income is not a reliable indicator of IFRS net income for the same period. There is a very low correlation between financial results under the two reporting standards due to significant accounting differences. Therefore, the RAS figures should not be used as the basis for conclusions on future IFRS results.

The gross loan portfolio amounted to 643 billion rubles representing an increase of 54% year-on-year. The net loan portfolio amounts to RUB 556 billion increasing by 61% year-on-year and constituting 50% of the balance sheet total (44% at the end of 2020).

Individual customer accounts stood at 718 billion rubles. Tinkoff Bank continued to maintain substantial liquidity: the CBR N2 ratio was 73% (minimum : 15%), and the CBR N3 ratio was 128% (minimum requirement: 50%). Individual customer accounts set up 74% of total liabilities.

Total assets increased by 46% year-on-year in RUB 1114 billion.

From 1 December 2021, total capital including retained earnings (based on form 123) amounted to RUB 187.4 billion. The CBR N1 capital adequacy ratio has been 14.2%. The core capital adequacy ratio (N1.1) was 9.6% and the principal capital adequacy ratio (N1.2) was 14.3%.

In September 2021, TCS Finance DAC successfully issued a perpetual callable loan of USD 600,000,000 at 6.00% participation notes and on-lent the proceeds of the issue to Tinkoff Bank. Following the approval of the CBR, the issue was included in the calculation of the statutory capital ratios of Tinkoff Bank. from November 2021.

Note on RAS results

Please note that the figures in this press release are calculated in accordance with Tinkoff Bank’s internal methodology available at:


RAS results are not a reliable indicator of IFRS results due to significant accounting differences which make it impossible to directly cross-read RAS results to IFRS. The main differences between RAS and IFRS are as follows:

  • The consolidated results under IFRS include a number of additional items and the results of its subsidiaries
  • Accumulation of charges under IFRS
  • Temporal differences in the recognition of restructured loans (“tranches”) and loans before the courts
  • The effect of the revaluation of foreign exchange derivative instruments
  • The effect of deferred income tax.

For requests:


Artem Lebedev
Public relations department

+ 7 495 648-10-00 (ext. 2202)

Alexandr Leonov

+ 7 495 648-10-00 (ext. 35738)

[email protected]


Larisa Tchernycheva
RI Department

+ 7 495 648-10-00 (extension 2312)

Neri tollardo

+44 7741 078383

[email protected]

TCS Group Holding SA

TCS Group Holding PLC is an innovative provider of online financial services for retail and SMEs. It includes Tinkoff Bank, its mobile virtual network operator Tinkoff Mobile, Tinkoff Insurance, its asset management company Tinkoff Capital, Tinkoff Software DC, a network of development hubs in major Russian cities, and Tinkoff Education. The Group is currently developing the Tinkoff ecosystem, which offers financial and lifestyle services.

The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has been listed on the London Stock Exchange since October 2013.

The Group’s core business is Tinkoff Bank, a fully online bank serving over 16 million customers and forming the heart of the Tinkoff ecosystem. Tinkoff is Russia’s 3rd largest retail bank in terms of active customer base.

Tinkoff Bank is the second largest player in the Russian credit card market, with a share of 14.3%. TCS Group Holding PLC’s IFRS net profit for 3Q’21 was 16.5 billion rubles. The ROE was 42.6%.

Without a branch, the Group serves all of its customers remotely through online channels and a cloud-based call center. The center has more than 10,000 employees, making it one of the largest in Europe. To ensure the proper delivery of the Group’s products, the Group has a national network of more than 10,000 representatives.

Global Finance named Tinkoff Bank the world’s best consumer digital bank in 2020 and 2018, and the best consumer digital bank in Russia in 2020, 2019, 2018, 2016 and 2015. Tinkoff was also named the best European retail bank in the world. year by Retail Banker International in 2020. In 2021, the banker recognized Tinkoff Bank as the best performing bank in Russia. The bank’s mobile application has always been hailed by independent local and global experts as the best of its kind (in 2013, 2014, 2015, 2016 by Deloitte and in 2018 by Global Finance).


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