THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

TCS Group Holding PLC releases highlights for Q1 2022 performance

LIMASSOL, CYPRUS — 18 May 2022. TCS Group Holding PLC (LI: TCS, MOEX: TCSG) (“TCS”, “We”, the "Group", the “Company”), a leading provider of financial and lifestyle services via its digital ecosystem, today announces key performance metrics and trading update for the three months ended 31 March 2022.

KEY PERFORMANCE METRICS

The Group’s business model is flexible, scalable, resilient and diversified.

The Group continues to monitor the operational performance of its business on a minute-by-minute basis and has its team and all key systems in place to ensure that the Group stays a  reliable financial partner for its customers.

The Group has a significant ruble and FX liquidity cushion and ample capital buffers, which will enable it to adapt further to the changing environment in 2022.

The Group’s total customers reached 22.7 mn in 1Q’22 (1Q’21: 14.8 mn), while active customer base increased to 15.8 mn (1Q’21: 10.3 mn).

As of 1 April, 2022, the number of monthly active users (MAU) amounted to 17.7 mn, while the number of daily active users (DAU) reached 6.9 mn.

In 1Q’22, the Group’s total gross revenue grew materially year-on-year and also increased quarter-on-quarter following growth of the customer base.

In 1Q’22, net margin (net interest income) grew year-on-year and quarter-on-quarter following growth of the portfolio despite rising funding costs.

The Group’s net loan portfolio and customer accounts grew substantially year-on-year and were broadly stable quarter-on-quarter in 1Q’22.

In 1Q’22, non-credit revenue represented more than half of the Group’s revenue.

Net profit in 1Q’22 decreased year-on-year and quarter-on-quarter, nonetheless remaining positive, due primarily to an increase in funding costs and other factors.

The Group’s total equity increased quarter-on-quarter at the end of 1Q’22.

In 1Q’22, the Group maintained a solid and liquid balance sheet, well-provisioned loan portfolio and strong capital buffers.

On 11 March 2021, the Group announced the suspension of dividend payments for the remainder of 2021. Today, the Group confirms that regular quarterly dividends shall remain suspended through December 2022.

About TCS Group

TCS Group is an innovative provider of digital financial and lifestyle services to more than 22 million customers via its award-winning apps and web interface. Branchless since its inception in 2006, the Tinkoff ecosystem currently offers a full range of services, including digital banking, brokerage, acquiring and other merchant solutions, insurance, corporate banking for businesses of all sizes and much more. 

 
Global Finance named Tinkoff Bank the world's Best Consumer Digital Bank in 2020 and 2018. It was also named the Best European Retail Bank of the Year by Retail Banker International in 2020. The bank's mobile app has been consistently praised by local and global independent experts as the best of its kind (in 2013, 2014, 2015, 2016 by Deloitte and in 2018 by Global Finance). 

UK MAR

This announcement is released by TCS Group Holding plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal Act) 2018 ("UK MAR"),  and is disclosed in accordance with the Company's obligations under Article 17 of UK MAR.

Forward-looking statements

Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Group and Tinkoff Bank. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might", the negative of such terms or other similar expressions. The Group and Tinkoff Bank wish to caution you that these statements are only predictions and that actual events or results may differ materially. The Group and Tinkoff Bank do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Group and Tinkoff Bank, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries the Group operates in, as well as many other risks specifically related to the Group, Tinkoff Bank and their respective operations.