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Last year's net profit of 63.4 billion roubles ($561 million)
came at around $860 million in dollar terms when calculated
against the rouble's 2021 average rate of 73.65.
The operator of Russia's largest online bank Tinkoff, which had
20.8 million customers by year end, has not been sanctioned but
trading of its London-listed global depositary receipts was
suspended on Thursday along with several Russia-based companies.
"While we are reporting strong results for 2021, our immediate
focus now lies in making sure all our systems work as usual,"
Co-CEOs of TCS Group Oliver Hughes and Pavel Fedorov said in a
statement. "We have all hands on deck. We have ample rouble and
FX liquidity and a solid capital position."
Russia's banking sector has been a particular target of
sanctions, with major banks excluded from the SWIFT global
messaging network, making it hard for lenders and companies to
make and receive payments.
Western nations are seeking to isolate Moscow for its invasion
of Ukraine, something Russia calls a "special military
operation".
TCS said it may, at any time and from time to time, buy its
outstanding debt in open-market purchases, privately negotiated
transactions, or otherwise.
"Such repurchases, if any, will be upon such terms and at such
prices as we may determine, and will depend on prevailing market
conditions, our liquidity requirements, contractual restrictions
and other factors," TCS said.
Full-year revenue grew by 40% to 273.9 billion roubles and the
bank's return on equity increased to 42.5% in 2021 from 50.6% a
year earlier.
Its share price had plunged over 90% since Russia launched its
assault on Ukraine last week by the time trading was halted.
The management team will address analysts and investors at 1400
GMT.
($1 = 113.0000 roubles)
(Reporting by Reuters in Moscow; editing by David Goodman, Jason
Neely and Tomasz Janowski)
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