International Public Joint-Stock Company T-Technologies (TCS) Q1 2025 earnings summary

Executive summary

• Consolidated interim financials prepared under IAS 34 for the three months ended 31 March 2025, with no audit modifications noted by the independent reviewer.

• The group completed the merger of PJSC ROSBANK into JSC "TBank" as a branch, expanding its branch network to 9 locations.

• The group operates a diversified financial and lifestyle ecosystem, including retail banking, insurance, brokerage, and SME/corporate services.

Financial highlights

• Net profit for Q1 2025 was RR 33,461 million, up from RR 22,288 million in Q1 2024.

• Total comprehensive income for the period reached RR 40,239 million, compared to RR 22,765 million a year earlier.

• Net interest income rose to RR 114,814 million from RR 73,208 million year-over-year.

• Fee and commission income increased to RR 50,966 million from RR 34,248 million year-over-year.

• Total assets stood at RR 4,731,473 million as of 31 March 2025, down from RR 5,118,041 million at year-end 2024.

• Customer accounts decreased to RR 3,711,043 million from RR 4,009,972 million at 31 December 2024.

• Loans to customers (net) were RR 2,462,316 million, stable compared to RR 2,466,121 million at year-end.

• Cash and cash equivalents declined to RR 1,000,730 million from RR 1,426,625 million at year-end.

Outlook and guidance

• The group maintains adequate capital and liquidity, with capital and liquidity levels sufficient to absorb operational impacts from potential economic disruption and market volatility.

• The group continues to operate seamlessly under sanctions, transforming its business and operational models to enhance efficiency and profitability.