Georgia-based TBC Bank Group Plc (TBCG.L) on Wednesday posted higher profit before tax in the fourth quarter, helped by increased net interest income, and net fee and commission income. The company also lifted its dividend, and said that it is on track to meet its mid-term goals for fiscal 2025.
TBC Bank stock is trading at 3,866.00 pence, up 4.63% on the LSE.
The company's net profit before tax rose 16% to GEL 392.45 million in the fourth quarter from GEL 337.30 million reported in the same period last year.
During the three-month period, TBC Bank Group posted net profit of GEL 334.60 million, higher than GEL 291.44 million in the year-ago quarter. Earnings per share climbed 11.6% to 5.87 from 5.26 in year-ago quarter
On an adjusted basis, net profit came in at GEL 344.40 million in the fourth quarter.
Total operating income grew 22.6% to GEL 783.66 million from last year's GEL 639.28 million.
The company's net interest income for the period rose 15% to GEL 507.69 million from GEL 441.74 million a year ago. Net fee and commission income for the same period jumped 34% to GEL 147.93 million from GEL 110.10 million in the prior-year quarter.
TBC Bank also announced a final dividend of GEL 5.55 per share, subject to AGM approval. This brings the full year dividend per share to GEL 8.10, a 12% rise from last year.
Looking ahead, the company said that it is fully on track to meet the mid-term targets set for 2025, helped by scaling up the business in Uzbekistan and continuing to deliver strong and profitable growth in Georgia.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
For comments and feedback: editorial@rttnews.com