TBC Bank Announces 2Q and 1H 2014 Results, Reporting GEL 37M Net Income in the Second Quarter of 2014
 

TBC Bank announced its 2Q and 1H 2014 unaudited consolidated financial statements, prepared in accordance with the International Financial Reporting Standards (IFRS).

Financial Highlights

• NIM (net interest margin) reached 8.4% in 2Q 2014, compared to 8.2% in 2Q 2013;
• Total operating income in 2Q 2014 was GEL 108.4 million, up GEL 13.8 million, or 14.6%, compared to GEL 94.6 million in 2Q 2013;
• Cost to income ratio improved to 48.9% in 2Q 2014, compared to 55.8% in the same quarter of the previous year.
• Profit for the period was GEL 36.9 million, up GEL 1.9 million, or 5.3%, compared to GEL 35.1 million in 2Q 2013, delivering a return on average equity of 19.0%;
• Total assets reached GEL 4,798.1 million, up GEL 810.2 million, or 20.3% YoY (up 8.1% QoQ);
• Gross loans and advances to customers increased to GEL 3,077.8 million, up GEL 492.9 million, or 19.1% YoY (up 5.4% QoQ):


o Retail gross loans reached GEL 1,343.0 million, up GEL 306.4 million, or 29.6% YoY (up 7.6% QoQ);
o SME gross loan reached GEL 438.6 million, up GEL 121.2 million, or 38.2% YoY (up 8.4% QoQ);
o Micro gross loans reached GEL 235.8 million, up GEL 52.7 million,  or 28.8% YoY (up 8.1%  QoQ);
o Corporate gross loans reached GEL 1,060.5 million, up GEL 12.7 million, or 1.2% YoY (up 1.0% QoQ).


• Total customer deposits increased to GEL 2,929.2 million, up GEL 365.5 million, or 14.3% YoY (up 6.4% QoQ);
• Total equity was GEL 926.2 million, up GEL 255.1 million, or 38.0% YoY (up 27.4% QoQ).

19.08.2014
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