T-Technologies reports on profits and business expansion

T-Bank's parent company, T-Technologies Group, has published financial statements for 2024. As noted in the company's press release, the group's revenue doubled last year and reached a record high of 962 billion rubles. Net profit increased by 51%, amounting to 122 billion rubles. The forecast for 2025 is for profit growth of 40 percent or more, while maintaining a return on equity above 30%.

In 2024, 18% more Russians began using the services of the T-Technologies ecosystem (T-Bank, T-Investments, T-Mobile, T-Insurance, and others), and the number of the group's customers has already grown to 48 million people. Customers keep more than 5.3 trillion rubles of funds in their accounts with T Group companies — this figure has doubled in a year. At the same time, over 15.5 million people use T applications every day, and on average, the client spends about 10 minutes in the application.

The company also published data on card purchases by Russians in 2024. T-Bank's customers purchased 9 trillion rubles worth of goods and paid for services over the year, spending 36% more than in 2023.

At the same time, spending by ecosystem customers in 2024 grew 5 times faster than retail sales in the whole country: purchases with T-Bank cards increased by 36%, while retail sales in Russia increased by 7.2%. T-Technologies' customers spent more than 200 billion rubles on purchases within the ecosystem for groceries, gasoline, tickets and other daily expenses. This indicator has increased by 2 times over the past year. At the same time, T-Bank's customers received more than 90 billion rubles in cashback over the year.

According to Stanislav Bliznyuk, President of T-Technologies, the increase in key financial and operational indicators was achieved due to the "focus on efficiency, as well as credit and transactional activity" of the growing customer base. "The Group has traditionally demonstrated a high level of profitability and profitability of its business: the return on equity for the year was 32.5%," he stressed.

Last year, the company returned to regular dividends, recalled Alexey Malinovsky, Chairman of the Board of Directors of T-Technologies. The Board of Directors recommended an additional payment of 32 rubles per share. Taking into account the interim dividends that the owners of the shares received in December, the total amount of dividends paid by the end of 2024, according to the company's experts, will amount to 33.4 billion rubles.