IFRS net profit of TCS Group Holding PLC (Tinkoff) for the second quarter of 2020 increased by 24.7% to RUB 10.2 billion from RUB 8.2 billion a year earlier, IFRS net profit for the first half of 2020 by 25.1% to RUB 19.3 billion from RUB 15.4 billion a year earlier, the bank informed.
The group's net margin in the second quarter of 2020 increased by 19% year-on-year to reach RUB 26.1 billion.
In the first half of 2020, the bank attracted 1.7 million new customers in the segment of credit products, 1 million owners of brokerage accounts. Return on equity was 40.0% in the second quarter of 2020.
Tinkoff Bank (formerly Khimmashbank) acquired in 2006 by Russian entrepreneur Oleg Tinkov is one of the large Russian banks. The bank specializes in consumer lending to individuals, mainly through credit cards, and providing a wide range of financial services based on the bank's own online platform.