MOSCOW, March 4 (Reuters) – Russian lender TCS Group Holding (TCSq.L) on Friday reported report annual web revenue in rouble phrases at 63.4 billion roubles ($561 million) in 2021, up 43% 12 months on 12 months, however stated it was now targeted on ensuring its programs had been working as standard.
The operator of Russia’s largest on-line financial institution Tinkoff, has not been sanctioned however buying and selling of its London-listed international depositary receipts was suspended on Thursday together with a number of Russia-based corporations. learn extra
“Whereas we’re reporting sturdy outcomes for 2021, our instant focus now lies in ensuring all our programs work as standard,” Co-CEOs of TCS Group Oliver Hughes and Pavel Fedorov stated in a press release. “We’ve got all palms on deck. We’ve got ample rouble and FX liquidity and a strong capital place.”
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Russia’s banking sector has been a specific goal of sanctions, with main banks excluded from the SWIFT messaging community, making it arduous for lenders and firms to make and obtain funds.
Western nations are in search of to isolate Moscow for its invasion of Ukraine, one thing Russia calls a “particular army operation”.
TCS on Friday stated it might, at any time and occasionally, buy its excellent debt in open-market purchases, privately negotiated transactions, or in any other case.
“Such repurchases, if any, will likely be upon such phrases and at such costs as we could decide, and can rely on prevailing market circumstances, our liquidity necessities, contractual restrictions and different elements,” TCS stated.
($1 = 113.0000 roubles)
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Reporting by Reuters in Moscow; modifying by David Goodman and Jason Neely
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