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Financials

BRIEF-Georgia's TBC Bank Group's Q1 net profit jumps 64.5 pct to 96.6 mln lari

TBILISI, May 22 (Reuters) - Georgia’s TBC Bank Group PLC says:

* Net profit for the first quarter 2017 up by 64.5 percent year-on-year to 96.6 million lari ($40.08 million).

* Return on equity (ROE) amounted to 24.2 percent (24.6 percent without one-off effects) and return on assets (ROA) to 3.7 percent.

* Total operating income for the first quarter 2017 up by 40.2 percent yoy to 203.5 million lari.

* Cost to income ratio stood at 40.8 percent (39.8 percent without one-off effects), compared with 44.3 percent in the first quarter 2016.

* Cost of risk on loans stood at 0.9 percent, down by 0.2 percentage points year-on-year.

* Net interest margin (NIM) stood at 6.6 percent, down by 1.1 percentage points year-on-year.

* Total assets reached 10.362.6 million lari as of March 31, 2017, up by 55.7 percent year-on-year.

* Gross loans and advances to customers increased to 7,121.0 million lari as of March 31, 2017, up by 58.5 percent year-on-year.

* Net loans to deposits and IFI funding stood at 97.2 percent and net stable funding ratio (NSFR) stood at 106.8 percent.

* Total customer deposits stood at 6,070.8 million lari as of March 31, 2017, up by 54.4 percent year-on-year. ($1 = 2.4100 laris) (Reporting by Margarita Antidze; editing by Louise Heavens)

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