"T-Technologies reported growth in the number of customers

In the first 10 months of this year, the total number of customers of the T ecosystem reached 46.4 million, up 20% year-on-year. This is evidenced by the condensed operating results distributed by T-Technologies.

It is noted that the number of active ecosystem users grew 19% year-on-year to 31.8 million, while the number of active application users per day (DAU) increased 23% year-on-year to 14.7 million.

"In October 2024, the group continued its dynamic growth. The number of active users generating revenue for us every month, including Rosbank, reached 33 million. Every second T ecosystem customer uses two or more of our products. Against this background, the volume of customer transactions also continues to grow," said Stanislav Bliznyuk, Head of T-Bank.

The total volume of card purchases in January-October 2024 increased by 36% compared to the same period in 2023 and reached 7.3 trillion rubles.

According to Bliznyuk, the group's balance sheet remains highly liquid in the reporting period, as customer funds significantly exceed the loan portfolio. "The volume of customer funds and assets under management on accounts in T-Bank and Rosbank at the end of October amounted to 4.9 trillion rubles, the total loan portfolio remained at the level of 2.7 trillion rubles," added the head of T-Bank. The company's materials specify that changes in the structure of the combined portfolio are associated with the integration of T-Bank and Rosbank and redistribution of portfolios of loans to individuals within the group.

Clients' funds on accounts in T-Bank increased by 87% year-on-year to Br2.45 trillion. Bliznyuk emphasized that most of the inflow of customer funds is allocated to risk-free money market instruments. "This approach allows us not to divert capital from our core business and maintain structural growth in different macroeconomic conditions," he explained.

T-Bank's profit under Russian Accounting Standards (RAS) for the first 10 months of this year reached 50 billion rubles, up 36% year-on-year. Rosbank's profit amounted to 46 billion rubles (42% higher than a year earlier). At the same time, as T-Technologies reminded, the profit of banking divisions under RAS is not a reliable indicator of consolidated profitability of the group's business under International Financial Reporting Standards (IFRS) due to significant differences in methodology, as well as the presence of other profitable divisions within the group's perimeter. "Therefore, we do not recommend investors to use RAS profit figures as a basis for determining trends in group-wide IFRS profitability," the company added.

T-Bank's total capital under RAS at the end of October amounted to 288 billion rubles, while Rosbank's total capital amounted to 207 billion rubles.

The head of T-Bank reminded that the company received Russia's first one-letter stock ticker, thus reflecting its strategic focus on innovation. Under the new ticker "T" the shares will start trading on the stock exchange on November 28. On the same day, the group's IFRS accounts for Q3 and 9M 2024 will be published. "Our shareholders will receive interim dividends of 92.5 rubles per share by the end of the year," Bliznyuk pointed out.