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Prices & Quotes - UK Markets - TBC Bank Group (TBCG)

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Share Price:
Down 952.00p
Change Today:
-8.00p
Market Cap:
525.08m
Sector:
Banks

TBC Bank's bottom line hammered by loan loss provisions

By Alexander Bueso

Date: Tuesday 18 Aug 2020

LONDON (ShareCast) - (Sharecast News) - TBC Bank reported a sharp drop in first half profits as the Covid-19 pandemic swept across Georgia and the broader region, forcing it to bolster its loan loss reserves in a hurry.
On an after tax basis, over the six months ending in June, the lender's bottom line shrank by 72.7% to GEL 69.2m as net interest margins narrowed from 6.0% during the comparable year ago period to 4.7%.

Yet the greatest drag on earnings was the additional credit loss allowance to the tune of 215.7m that it booked in the first quarter, in anticipation of the toll which the pandemic was likely to take on its clients.

Of that amount, GEL 210.9m was for loans.

A further GEL 9.0m allowance was booked by its Azeri arm, TBC Kredit.

In turn, TBC Bank's return on average assets (ROA) fell to 0.7% from 3.3% 12 months before.

Yet the proportion of non-performing loans fell by two tenths of a percentage point during the half to reach 2.9%.

TBC finished the period with a Basel III common equity tier one ratio of 10.0%.

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TBC Bank Group Market Data

Currency UK Pounds
Price 952.00p
Change Today -8.00p
52 Week High 1,392.00p
52 Week Low 635.00p
Volume 13,506
Shares Issued 55.16m
Market Cap 525.08m

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What The Brokers Say

Strong Buy 5
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TBC Bank Group Dividends

  Latest Previous
  Final Final
Ex-Div 06-Jun-19 17-May-18
Paid 12-Jul-19 22-Jun-18
Amount 56.79p 50.14p

Trades for 21-Oct-2020

Time Volume / Share Price
13:54 1 @ 952.00p
13:54 12 @ 952.00p
13:54 15 @ 952.00p
13:45 55 @ 951.00p
13:45 52 @ 950.00p

TBC Bank Group Key Personnel

CEO Vakhtang Butskhrikidze
CFO Giorgi Shagidze
Chair Nikoloz Enukidze