March 13, 2018 / 7:13 AM / 2 months ago

BRIEF-Russia's TCS Group says Q4 net income up 73 pct y/y

March 13 (Reuters) - TCS Group Holding Plc:

* ‍Q4 2017 NET INCOME UP 73% Y-O-Y TO RUB 6.4 BN (4Q16: RUB 3.7 BN)​

* ‍COST OF RISK AT 2.7% (4Q16: 5.0%) IN ‍Q4 2017 ​

* ‍FOLLOWING STRONG UNDERLYING GROWTH IN 2017, GROUP IS PLEASED TO REAFFIRM GUIDANCE FOR FY 2018​

* ‍COST OF RISK TO BE BELOW 7% IN 2018​

* ‍COST OF BORROWING TO BE AROUND 6-7% IN 2018​

* ‍IN LINE WITH GROUP’S DIVIDEND POLICY, BOARD OF DIRECTORS ON 9 MARCH 2018 APPROVED A FIRST INTERIM GROSS DIVIDEND FOR 2018 OF USD 0.31 PER SHARE/GDR​

* ‍IN 4Q17, GROUP’S NPL RATIO DECREASED TO 8.8% (3Q17: 9.4%). GROUP’S LOAN LOSS PROVISION COVERAGE DECREASED TO 1.26X OF NON-PERFORMING LOANS​

* ‍WE ACTIVATED NEARLY 1.8 MN NEW CREDIT CARDS IN 2017, UNDERPINNING NET LOAN GROWTH OF 36% FOR YEAR​ Source text for Eikon: Further company coverage: (Reporting by Jack Stubbs Editing by Katya Golubkova)

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