«Тинькофф Банк». Консолидированная финансовая информация (2018 год)

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

Financial assets – write-off.

Uncollectible assets are partly written-off against the related сredit loss

allowance usually after one year since they become overdue. The amount of uncollectible part of loan is
estimated on a loan portfolio basis taking into account defaulted loans recovery statistics. Gains or losses
on disposal of credit-impaired loans are recognized directly to the credit loss allowance line in the
consolidated statement of profit or loss and other comprehensive income in the period when sale occurred.
The Group writes-off financial assets that are mostly still subject to enforcement activity, however, there is
no reasonable expectation of recovery.

Repayments of written-off loans.

Recovery of amounts previously written-off as uncollectible are credited

directly to the credit loss allowance line in the consolidated statement of profit or loss and other
comprehensive income. Cash flows related to repayments of written-off loans are separately presented
within recoveries from written-off loan in the consolidated statement of cash flows.

Financial assets – derecognition.

The Group derecognises financial assets when (a) the assets are

redeemed or the rights to cash flows from the assets otherwise expired or (b) the Group has transferred
the rights to the cash flows from the financial assets or entered into a qualifying pass-through arrangement
while (i) also transferring substantially all risks and rewards of ownership of the assets or (ii) neither
transferring nor retaining substantially all risks and rewards of ownership, but not retaining control. Control
is retained if the counterparty does not have the practical ability to sell the asset in its entirety to an unrelated
third party without needing to impose restrictions on the sale.

Financial assets – modification.

The Group sometimes renegotiates or otherwise modifies the contractual

terms of the financial assets. The Group assesses whether the modification of contractual cash flows is
substantial considering, among other, the following factors: any new contractual terms that substantially
affect the risk profile of the asset, significant change in interest rate, change in the currency denomination,
new collateral or credit enhancement that significantly affects the credit risk associated with the asset, or a
significant extension of a loan when the borrower is not in financial difficulties.

If the modified terms are substantially different, the rights to cash flows from the original asset expire and
the Group derecognises the original financial asset and recognises a new asset at its fair value. The date
of renegotiation is considered to be the date of initial recognition for subsequent impairment calculation
purposes, including determining whether a SICR has occurred.

The Group also assesses whether the new loan or debt instrument meets the SPPI criterion. Any difference
between the carrying amount of the original asset derecognised and fair value of the new substantially
modified asset is recognised in profit or loss, unless the substance of the difference is attributed to a capital
transaction with owners.

In a situation where the renegotiation was driven by financial difficulties of the counterparty and inability to
make the originally agreed payments, the Group compares the original and revised expected cash flows to
assets whether the risks and rewards of the asset are substantially different as a result of the contractual
modification. If the risks and rewards do not change, the modified asset is not substantially different from
the original asset and the modification does not result in derecognition. The Group recalculates the gross
carrying amount by discounting the modified contractual cash flows by the original effective interest rate (or
credit-adjusted effective interest rate for POCI financial assets), and recognises a modification gain or loss
in  profit  or loss. Usually modifications  of stage 3 loans do not result in derecognition since they  do not
change the expected cash flows substantially and represent the way of collection of past due balances. If
the  terms  of  the  modified  asset  are  not  substantially  different,  the  modification  does  not  result  in
derecognition.

Financial liabilities – measurement categories.

Financial liabilities are classified as subsequently

measured at AC, except for (i) financial liabilities at FVTPL: this classification is applied to derivatives,
financial liabilities held for trading (e.g. short positions in securities), contingent consideration recognised
by an acquirer in a business combination and other financial liabilities designated as such at initial
recognition and (ii) financial guarantee contracts and loan commitments.

Financial liabilities – derecognition.

Financial liabilities are derecognised when they are extinguished

(i.e. when the obligation specified in the contract is discharged, cancelled or expires).

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

An exchange between the Group and its original lenders of debt instruments with substantially different
terms, as well as substantial modifications of the terms and conditions of existing financial liabilities, are
accounted for as an extinguishment of the original financial liability and the recognition of a new financial
liability. The terms are substantially different if the discounted present value of the cash flows under the
new terms, including any fees paid net of any fees received and discounted using the original effective
interest rate, is at least 10% different from the discounted present value of the remaining cash flows of the
original financial liability.

In addition, other qualitative factors, such as the currency that the instrument is denominated in, changes
in the type of interest rate, new conversion features attached to the instrument and change in loan
covenants are also considered. If an exchange of debt instruments or modification of terms is accounted
for as an extinguishment, any costs or fees incurred are recognised as part of the gain or loss on the
extinguishment. If the exchange or modification is not accounted for as an extinguishment, any costs or
fees incurred adjust the carrying amount of the liability and are amortised over the remaining term of the
modified liability.

Modifications of liabilities that do not result in extinguishment are accounted for as a change in estimate
using a cumulative catch up method, with any gain or loss recognised in profit or loss, unless the economic
substance of the difference in carrying values is attributed to a capital transaction with owners.

Cash and cash equivalents.

Cash and cash equivalents are items which are readily convertible to known

amounts of cash and which are subject to an insignificant risk of changes in value. Cash and cash
equivalents include all interbank placements and reverse sale and repurchase agreements with other banks
with original maturities of less than three months. Funds restricted for a period of more than three months
on origination are excluded from cash and cash equivalents. Cash and cash equivalents are carried at
amortised cost as: (i) they are held for collection of contractual cash flows and those cash flows represent
SPPI, and (ii) they are not designated at FVTPL.

The payments or receipts presented in the consolidated statement of cash flows represent transfers of cash
and cash equivalents by the Group, including amounts charged or credited to current accounts of the
Group’s counterparties held with the Group, such as loan interest income or principal collected by charging
the customer’s current account or interest payments or disbursement of loans credited to the customer’s
current account, which represents cash or cash equivalent from the customer’s perspective.

Mandatory cash balances with the CBRF.

Mandatory cash balances with the CBRF are carried at

amortised cost and represent non-interest bearing mandatory reserve deposits which are not available to
finance the Group’s day to day operations and hence are not considered as part of cash and cash
equivalents for the purposes of the consolidated statement of cash flows

Due from other banks.

Amounts due from other banks are recorded when the Group advances money to

counterparty banks with no intention of trading the resulting unquoted non-derivative receivable due on
fixed or determinable dates. Amounts due from other banks are carried at amortised cost as: (i) they are
held for collection of contractual cash flows and those cash flows represent SPPI, and (ii) they are not
designated at FVTPL.

Certain bank deposits are subject to the “bail-in” legislation that permits or requires a national resolving
authority to impose losses on holders in particular circumstances. Where the bail-in clauses are included
in the contractual terms of the instrument and would apply even if legislation subsequently changes, the
SPPI test is not met and such instruments are mandatorily measured at FVTPL. The Group did not identify
such balances due from other banks. Where such clauses in the contract merely acknowledge the existence
of the legislation and do not create any additional rights or obligation for the Group, the SPPI criterion is
met and the respective instruments are carried at AC.

Investments in debt securities.

Based on the business model and the cash flow characteristics, the Group

classifies investments in debt securities as carried at AC, FVOCI or FVTPL.

Debt securities are carried at AC if they are held for collection of contractual cash flows and where those
cash flows represent SPPI, and if they are not voluntarily designated at FVTPL in order to significantly
reduce an accounting mismatch.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

Debt securities are carried at FVOCI if they are held for collection of contractual cash flows and for selling,
where those cash flows represent SPPI, and if they are not designated at FVTPL. Interest income from
these assets is calculated using the effective interest method and recognised in profit or loss. An impairment
allowance estimated using the expected credit loss model is recognised in profit or loss for the year. All
other changes in the carrying value are recognised in OCI except for foreign exchange translation
gains/(losses) and interest income calculated using the effective interest rate method. When the debt
security is derecognised, the cumulative gain or loss previously recognised in OCI is reclassified from OCI
to profit or loss.

Investments in debt securities are carried at FVTPL if they do not meet the criteria for AC or FVOCI. The
Group may also irrevocably designate investments in debt securities at FVTPL on initial recognition if
applying this option significantly reduces an accounting mismatch between financial assets and liabilities
being recognised or measured on different accounting bases.

Loans and advances to customers.

Loans and advances to customers are recorded when the Group

advances money to purchase or originate a loan due from a customer.

Based on the business model and the cash flow characteristics, the Group classifies loans and advances
to customers into one of the following measurement categories:

AC: loans that are held for collection of contractual cash flows and those cash flows represent SPPI
and loans that are not voluntarily designated at FVTPL;

FVTPL: loans that do not meet the criteria for AC are measured at FVTPL (mandatory FVTPL).

Impairment allowances of the loans measured at AC are determined based on the forward-looking ECL
model. Note 34 provides information about inputs, assumptions and estimation techniques used in
measuring ECL, including an explanation of how the Group incorporates forward-looking information in the
ECL models.

Credit related commitments.

The Group issues commitments to provide loans. Commitments to provide

loans are initially recognised at their fair value, which is normally evidenced by the amount of fees received.
Such loan commitment fees are deferred and included in the carrying value of the loan on initial recognition.
At the end of each reporting period, the commitments are measured at the amount of the loss allowance
determined based on the expected credit loss model. For loan commitments (where those components can
be separated from the loan), a separate provision for ECL is recognised as a liability in the consolidated
statement of financial position.

Sale and repurchase agreements and lending of securities.

Sale and repurchase agreements (“repo

agreements”), which effectively provide a lender’s return to the counterparty, are treated as secured
financing transactions. Securities sold under such sale and repurchase agreements are not derecognised.
The securities are not reclassified in the consolidated statement of financial position unless the transferee
has the right by contract or custom to sell or repledge the securities, in which case they are reclassified as
repurchase receivables. The corresponding liability is presented within amounts due to other banks or other
borrowed funds.

Securities purchased under agreements to resell (“reverse repo agreements”), which effectively provide a
lender’s return to the Group, are recorded as due from other banks or loans and advances to customers,
as appropriate. The difference between the sale and repurchase price, adjusted by interest and dividend
income collected by the counterparty, is treated as interest income and accrued over the life of reverse
repo agreements using the effective interest method.

Securities lent to counterparties for a fixed fee are retained in the consolidated financial statements in their
original category in the consolidated statement of financial position unless the counterparty has the right by
contract or custom to sell or repledge the securities, in which case they are reclassified and presented
separately.

Securities borrowed for a fixed fee are not recorded in the consolidated financial statements, unless these
are sold to third parties, in which case the purchase and sale are recorded in profit or loss for the year within
gains less losses arising from trading securities. The obligation to return the securities is recorded at fair
value in other borrowed funds.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

Based on classification of securities sold under the sale and repurchase agreements, the Group classifies
repurchase receivables into one of the following measurement categories: AC, FVOCI, FVTPL.

Guarantee deposits with payment systems.

Amounts of guarantee deposits with payment systems are

recorded when the Group advances money to payment systems with no intention of trading the resulting
unquoted non-derivative receivable. Amounts of guarantee deposits with payment systems are carried at
amortised cost.

Tangible fixed assets.

Tangible fixed assets are stated at cost less accumulated depreciation and

provision for impairment, where required.

Costs of minor repairs and day-to-day maintenance are expensed when incurred. Costs of replacing major
parts or components of premises and equipment items are capitalised, and the replaced part is retired.

At the end of each reporting period management assesses whether there is any indication of impairment
of tangible fixed assets. If any such indication exists, management estimates the recoverable amount,
which is determined as the higher of an asset’s fair value less costs to sell and its value in use. The carrying
amount is reduced to the recoverable amount and the impairment loss is recognised in profit or loss for the
year. An impairment loss recognised for an asset in prior years is reversed if there has been a change in
the estimates used to determine the asset’s value in use or fair value less costs to sell.

Gains and losses on disposals determined by comparing proceeds with carrying amount are recognised in
profit or loss for the year (within other operating income or expenses).

Depreciation.

Depreciation of each item of tangible fixed assets is calculated using the straight-line method

to allocate its cost to its residual value over its estimated useful life as follows:

Useful lives in years

Building

Equipment

3 to 10

Vehicles

Leasehold improvements

Shorter of their useful economic life and the term of the underlying lease

The residual value of an asset is an estimated amount that the Group would currently obtain from disposal
of the asset less the estimated costs of disposal, if the asset was already of the age and in the condition
expected at the end of its useful life. The assets’ residual values and useful lives are reviewed, and adjusted
if appropriate, at the end of each reporting period.

Intangible assets.

The Group’s intangible assets other than insurance license have definite useful life and

include capitalised acquired computer software and internally developed software.

Computer software licenses acquired are capitalised on the basis of the costs incurred to acquire and bring
to use the specific software. All other costs associated with computer software, e.g. its maintenance, are
expensed when incurred. Capitalised computer software is amortised on a straight line basis over expected
useful lives of 1 to 10 years.

At each reporting date management assesses whether there is any indication of impairment of intangible
assets with an indefinite useful life. If any such indication exists, management estimates the recoverable
amount, which is determined as the higher of an asset’s fair value less costs to sell and its value in use.

The carrying amount is reduced to the recoverable amount and the impairment loss is recognised in profit
or loss. An impairment loss recognised for an asset in prior years is reversed if there has been a change in
the estimates used to determine the asset’s value in use or fair value less costs to sell. Intangible assets
including goodwill with indefinite useful life are tested annually for impairment.

Operating leases.

Where the Group is a lessee in a lease which does not transfer substantially all the risks

and rewards incidental to ownership from the lessor to the Group, the total lease payments are charged to
profit or loss for the year (rental expense within administrative and other operating expenses) on a straight-
line basis over the period of the lease.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

Leases embedded in other agreements are separated if (a) fulfilment of the arrangement is dependent on
the use of a specific asset or assets and (b) the arrangement conveys a right to use the asset.

When assets are leased out under an operating lease, the lease payments receivable are recognised as
rental income on a straight-line basis over the lease term.

Due to other banks.

Amounts due to banks are recorded when money or other assets are advanced to

the Group by counterparty banks. Non-derivative liability is carried at amortised cost.

Customer accounts.

Customer accounts are non-derivative liabilities to corporate entities and individuals

and are carried at amortised cost.

Debt securities in issue.

Debt securities are stated at amortised cost. If the Group purchases its own debt

securities in issue, they are removed from the consolidated statement of financial position and the difference
between the carrying amount of the liability and the consideration paid is included in a separate line of
consolidated statement of profit or loss and other comprehensive income as gains/losses from repurchase
of debt securities in issue.

Subordinated debt.

Subordinated debt can only be paid in the event of a liquidation after the claims of

other higher priority creditors have been met. Subordinated debt is carried at AC.

Financial derivatives.

Financial derivatives represented by forwards and foreign currency swaps are

carried at their fair value. Derivatives are carried as assets when fair value is positive and as liabilities when
fair value is negative. Changes in the fair value of financial derivatives are recorded within losses less gains
from operations with foreign currencies. The Group does not apply hedge accounting.

Income taxes.

Income taxes have been provided for in the consolidated financial statements in accordance

with Russian legislation and Cyprus legislation enacted or substantively enacted by the end of the reporting
period. The income tax charge comprises current tax and deferred tax and is recognised in profit or loss for
the year except if it is recognised in other comprehensive income or directly in equity because it relates to
transactions that are also recognised, in the same or a different period, in other comprehensive income or
directly in equity.

Current tax is the amount expected to be paid to or recovered from the taxation authorities in respect of
taxable profits or losses for the current and prior periods. Taxable profits or losses are based on estimates
if the consolidated financial statements are authorised prior to filing relevant tax returns. Taxes other than
on income are recorded within administrative and other operating expenses.

Deferred income tax is provided using the balance sheet liability method for tax loss carry forwards and
temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for
financial reporting purposes. In accordance with the initial recognition exemption, deferred taxes are not
recorded for temporary differences on initial recognition of an asset or a liability in a transaction other than
a business combination if the transaction, when initially recorded, affects neither accounting nor taxable
profit. Deferred tax balances are measured at tax rates enacted or substantively  enacted  at  the end  of
reporting period which are expected to apply to the period when the temporary differences will reverse or
the  tax  loss  carry  forwards  will  be  utilised.  Deferred  tax  assets  and  liabilities  are  netted  only  within  the
individual companies of the Group. Deferred tax assets for deductible temporary differences and tax loss
carry forwards are recorded only to the extent that it is probable that future taxable profit will be available
against which the deductions can be utilised.

Deferred income tax is not recognised on post-acquisition retained earnings and other post acquisition
movements in reserves of subsidiaries, where the Group controls the subsidiary’s dividend policy and it is
probable that the difference will not reverse through dividends or otherwise in the foreseeable future.

Uncertain tax positions.

The Group's uncertain tax positions are assessed by management at the end of

each reporting period. Liabilities are recorded for income tax positions that are determined by management
as more likely than not to result in additional taxes being levied if the positions were to be challenged by
the tax authorities. The assessment is based on the interpretation of tax laws that have been enacted or
substantively enacted at the end of reporting period and any known court or other rulings on such issues.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

Liabilities for penalties, interest and taxes other than on income are recognised based on management’s
best estimate of the expenditure required to settle the obligations at the end of the reporting period.

Provisions for liabilities and charges.

Provisions for liabilities and charges are non-financial liabilities of

uncertain timing or amount. They are accrued when the Group has a present legal or constructive obligation
as a result of past events, it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation, and a reliable estimate of the amount of the obligation can be made.

Levies and charges, such as taxes other than income tax or regulatory fees based on information related
to a period before the obligation to pay arises, are recognised as liabilities when the obligating event that
gives rise to pay a levy occurs, as identified by the legislation that triggers the obligation to pay the levy. If
a levy is paid before the obligating event, it is recognised as a prepayment.

Other liabilities.

Other liabilities are accrued when the counterparty has performed its obligations under

the contract and are carried at amortised cost.

Share capital.

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue

of new shares are shown in equity as a deduction, net of tax, from the proceeds and debited against share
premium.

Share premium.

Share premium is the difference between the fair value of the consideration receivable

for the issue of shares and the nominal value of the shares. The share premium account can only be
resorted to for limited purposes, which do not include the distribution of dividends, and is otherwise subject
to the provisions of the Cyprus Companies Law on reduction of share capital.

Treasury shares.

Where the Company or its subsidiaries purchase the Company’s equity instruments, the

consideration paid, including any directly attributable incremental external costs, net of income taxes, is deducted
from equity attributable to the owners of the Company until the equity instruments are reissued, disposed of or
cancelled. Where such shares are subsequently disposed of or reissued, any consideration received is included
in equity. The value of GDRs transferred out of treasury shares for the purposes of the long-term incentive
programme for management of the Group are determined based on the weighted average cost.

Dividends.

Dividends are recorded in equity in the period in which they are declared. Any dividends

declared  after  the  end  of  the  reporting  period  and  before  the  consolidated  financial  statements  are
authorised  for  issue,  are  disclosed  in  the  Note  “Events  after  the  End  of  the  Reporting  Period”.  The
accounting reports of the Group entities are the basis for profit distribution and other appropriations. The
separate financial statements of the Company prepared in accordance with IFRS as adopted by the EU
and in accordance with Cyprus Companies Law is the basis of available reserves for distribution. Dividend
distribution  to  the  Company's  shareholders  is  recognised  as  a  liability  in  the  Company's  consolidated
financial statements in the year in which the dividends are appropriately authorised and are no longer at
the discretion of the Company. More specifically, interim dividends are recognised as a liability in the period
in  which  these  are  authorised  by  the  Board  of  Directors  and  in  the  case  of  final  dividends,  these  are
recognised in the period in which these are approved by the Company's shareholders.

Income and expense recognition.

Interest income and expense calculated using effective interest method

are recorded for all debt instruments, other than those at FVTPL, on an accrual basis using the effective
interest method. This method defers, as part of interest income or expense, all fees paid or received
between the parties to the contract that are an integral part of the effective interest rate, transaction costs
and all other premiums or discounts.

Fees integral to the effective interest rate include origination fees received or paid by the entity relating to
the creation or acquisition of a financial asset or issuance of a financial liability. Commitment fees received
by  the  Group  to  originate  loans  at  market  interest  rates  are  integral  to  the  effective  interest  rate  if  it  is
probable  that  the  Group  will  enter  into  a  specific  lending  arrangement  and  does  not  expect  to  sell  the
resulting  loan  shortly  after  origination.  The  Group  does  not  designate  loan  commitments  as  financial
liabilities at FVTPL.

For financial assets that are originated or purchased credit-impaired, the effective interest rate is the rate
that discounts the expected cash flows (including the initial expected credit losses) to the fair value on initial
recognition (normally represented by the purchase price). As a result, the effective interest is credit-
adjusted.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

Interest income is calculated by applying the effective interest rate to the gross carrying amount of financial
assets, except for:

i) financial assets that have become credit-impaired (Stage 3), for which interest revenue is calculated by
applying the effective interest rate to their AC (net of the ECL provision); and

ii) financial assets that are purchased or originated credit-impaired, for which the original credit-adjusted
effective interest rate is applied to the AC.

Customer acquisition expenses are represented by the costs incurred by the Group on services related to
attraction of the credit card borrowers, mailing of advertising materials, processing of responses etc. Those
costs, which can be directly attributed to the acquisition of a particular client, are included in the effective
interest rate of the originated financial instruments; the remaining costs are expensed on the basis of the
actual services provided.

All other income and other expenses are generally recorded on an accrual basis by reference to completion
of the specific transaction assessed on the basis of the actual service provided as a proportion of the total
services to be provided.

Commissions and fees arising from negotiating, or participating in the negotiation of a transaction for a third
party, such as the acquisition of loans, shares or other securities or the purchase or sale of businesses,
and which are earned on execution of the underlying transaction, are recorded on its completion.

Other similar income.

Other similar income represents interest income recorded for debt instruments

measured at fair value through profit or loss (“FVTPL”) and is recognised on an accrual basis using nominal
interest rate.

Fee and commission income and expense

. Fee and commission income is recognised over time as the

services are rendered, when the customer simultaneously receives and consumes the benefits provided
by the Group’s performance. Such income includes SMS fee and part of SME current accounts commission
which represents fixed monthly payments. Variable fees are recognised only to the extent that management
determines that it is highly probable that a significant reversal will not occur.

Other fee and commission income is recognised at a point in time when the Group satisfies its performance
obligation, usually upon execution of the underlying transaction. The amount of fee or commission received
or receivable represents the transaction price for the services identified as distinct performance obligations.
Such income includes credit protection fee, merchant acquiring commission, part of SME current accounts
commission which represents payments for each transaction, interchange fee, cash withdrawal fee, foreign
currency exchange transactions fee, card to card commission, mortgage agency fee and other.

All fee and commission expenses are generally recorded on an accrual basis by reference to completion
of the specific transaction assessed on the basis of the actual service provided as a proportion of the total
services to be provided.

Customer loyalty program.

The group operates loyalty programs where retail clients accumulate points,

which entitle them to reimbursement of purchases made with credit and debit cards. A financial liability is
recognised for the amount of fair value of points expected to be redeemed until they are actually redeemed
or expire with the corresponding entries to interest income calculated using the effective interest rate
method or commission expenses depending on whether the points were accumulated by credit card clients
or debit card clients respectively.

Insurance contracts.

Insurance contracts are those contracts that transfer significant insurance risk.

Insurance risk exists when the Group has uncertainty in respect of at least one of the following matters at
inception of the contract: occurrence of insurance event, date of occurrence of the insurance event, and
the claim value in respect of the occurred insurance event. Such contracts may also transfer financial risk.

Non-life insurance (short-term insurance).

The below items from the consolidated statement of financial

position of the Group are accounted within Other financial assets and Other financial liabilities lines, the
below items from the consolidated statement of profit or loss and other comprehensive income of these
consolidated financial statements are accounted within Income from insurance operations and Insurance
claims incurred lines.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

Premiums written.

Premiums (hereafter – “premiums” or “insurance premiums”) under insurance

contracts are recorded as written upon inception of a contract and are earned on a pro-rata basis
over the term of the related contract coverage. Reduction of premium written in subsequent periods
(under amendments to the signed original contacts, for example) is accounted by debiting of
premiums written in current period.

Claims.

Claims are charged to the consolidated statement of profit or loss and other comprehensive

income as compensation is paid to policyholders (beneficiaries) or third parties.

Claims handling expenses.

Claims handling expenses are recognised in profit or loss for the period

as incurred and include direct expenses related to negotiations and subsequent claims handling, as
well as indirect expenses, including expenses of claims handling department and administrative
expenses directly related to activities of this department.

Reinsurance.

The Group assumes and cedes reinsurance in the normal course of business. Ceded

reinsurance contracts do not relieve the Group from its obligations to the policyholders under
insurance contract.

Amounts  due  from  reinsurers  are  measured  consistently  with  the  amounts  associated  with  the  direct
insurance contracts and in accordance with the terms of each reinsurance contract.  Reinsurance assets
arising  from  outward  reinsurance  contracts  include  reinsurers  share  in  paid  claims,  including  claims
handling  expenses.  Liabilities  under  outward  reinsurance  operations  are  obligations  of  the  Group  for
payment  of  premiums  to  reinsurers.  Reinsurance  assets  include  premiums  ceded  to  the  Group  under
inward reinsurance contracts. The Group's liabilities under inward reinsurance contracts are obligations to
compensate the Group's share in paid claims, including claims handling expenses to reinsurers.

The Group assesses its reinsurance assets for impairment on a regular basis. If there is objective evidence
that the reinsurance asset is impaired, the Group reduces the carrying amount of the reinsurance asset to
its recoverable amount and recognises that impairment loss in the consolidated statement of profit or loss
and other comprehensive income. The Group gathers the evidence that a reinsurance asset is impaired
using the same process adopted for financial assets carried at amortised cost. The impairment loss is also
calculated following the same method used for the financial assets carried at amortised cost.

Subrogation income.

The Group has a right to pursue third parties responsible for loss for payment

of some or all costs related to the claims settlement process of the Group (subrogation).
Reimbursements are recognised as income only if the Group is confident in receipt of these amounts
from these third parties. Under inward reinsurance contracts, amounts of reimbursement due to the
Group as a result of settlement of reinsurer's subrogation claims are treated as the Group's income
as at the date of acceptance of the invoice received from the reinsurer and including calculation of
the Group's share in the subrogation claim.

Deferred acquisition costs.

Deferred acquisition costs (“DAC”) are calculated (for non-life

insurance contracts) separately for each insurance product. Acquisition costs include remuneration
to agents for concluding agreements with corporate clients and individuals and brokerage fees for
underwriting of assumed reinsurance agreements. They vary with and fully depend on the premium
earned under acquired or renewed insurance policies. These acquisition costs are deferred and
amortised over the period in which the related written premiums are earned. They are reviewed by
line of business at the time of the policy issue and at the end of each accounting period to ensure
they are recoverable based on future estimates.

For the insurance contracts with duration of less than one month and with automatic prolongation condition
amortisation of one-off acquisition costs occurs over the period determined based on statistical assessment
of duration of the insurance contract taking into account all of the expected future prolongations.

Insurance agency fee.

In cases when the Group acts as an agent and attracts clients for the third-

party insurance companies, the Bank receives commission income, which is recognised within Fee
and commission income in the consolidated statement of profit or loss and other comprehensive
income in full amount.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

Insurance provisions

Provision for unearned premiums.

Provision for unearned premiums (UEPR) represents the

proportion of premiums written that relate to the unexpired term of policies in force as at the reporting
date, calculated on a time apportionment basis. UEPR is recognised within liabilities on a gross basis.

Loss provisions

. Loss provisions represent the accumulation of estimates for ultimate losses and

include outstanding claims provision (“OCP”) and provision for losses incurred but not yet reported
(“IBNR”).  Loss  provisions  are  recognised  within  liabilities  on  a  gross  basis.  Estimates  of  claims
handling  expenses  are  included  in  both  OCP  and  IBNR.  OCP  is  provided  in  respect  of  claims
reported, but not settled as at the reporting date.

The estimation is made on the basis of information received by the Group during settlement of the insured
event, including information received after the reporting date. IBNR is determined by the Group by line of
business using actuarial methods, and includes assumptions based on prior years’ claims and claims
handling experience. IBNR is calculated for each occurrence period as the difference between the projected
maximum amount of future payments resulting from the events that occurred during the period and the
amount of future payments resulting from the event already reported but not settled at the reporting date
within the same period.

The methods of determining such estimates and establishing the resulting provisions are continually
reviewed and updated. Resulting adjustments are reflected in the consolidated statement of profit or loss
and other comprehensive income as they arise.

Loss provisions are estimated on an undiscounted basis due to relatively quick pattern of claims notification
and payment.

Unexpired risk provision.

Unexpired risk provision (“URP”) is recorded when unearned premiums

are insufficient to meet claims and expenses, which may be incurred after the end  of the financial
year.  To  estimate  the  unexpired  risk  provision  the  Group  uses  historical  experience  and  forward
looking assumptions of ultimate loss ratios (including claims handling expenses) and the level of in-
force portfolio maintenance expenses. The expected claims are calculated having regard to events
that have occurred prior to the reporting date. For the purposes of final presentation of consolidated
financial statements unexpired risk provision is written off against deferred acquisition costs.

Liability adequacy testing.

As at each reporting date the adequacy of the insurance reserves is

tested. Testing of insurance reserves for non-life insurance is performed to ensure adequacy of
contract liabilities. In performing these tests, current estimates of future contractual cash flows,
claims handling and administration expenses are used. As a result of liability adequacy testing for
non-life insurance, the Group sets up its URP.

Foreign currency translation.

The functional currency of the Company and each of the Group’s

consolidated entities is the Russian Rouble (“RR”), which is the currency of the primary economic
environment in which each entity operates.

Monetary assets and liabilities are translated into each entity’s functional currency at the official exchange
rate of the CBRF at the end of the respective reporting period.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation
of monetary assets and liabilities into each entity’s functional currency at year-end official exchange rates
of the CBRF are recognised in profit or loss for the year (as foreign exchange translation gains less losses,
except for clients’ foreign currency exchange transactions fee, which is recognised in profit or loss as fee
and commission income).

Translation at year-end rates does not apply to non-monetary items that are measured at historical cost.

At 31 December 2018 the rate of exchange used for translating foreign currency balances was USD 1 =
RR 69.4706 (31 December 2017: USD 1 = RR 57.6002), and the average rate of exchange was
USD 1 = RR 62.7078 (2017: USD 1 = RR 58.3529).

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

Offsetting.

Financial assets and liabilities are offset and the net amount reported in the consolidated

statement of financial position only when there is a legally enforceable right to offset the recognised
amounts, and there is an intention to either settle on a net basis, or to realise the asset and settle the liability
simultaneously. Such a right of set off (a) must not be contingent on a future event and (b) must be legally
enforceable in all of the following circumstances: (i) in the normal course of business, (ii) the event of default
and (iii) the event of insolvency or bankruptcy.

Earnings per share.

Earnings per share are determined by dividing the profit or loss attributable to owners

of the Company by the weighted average number of participating shares outstanding during the reporting
year, excluding treasury shares. For the purpose of diluted earnings per share calculation the Group
considers dilutive effects of shares granted under employee share option plans.

Staff costs and related contributions.

Wages, salaries, contributions to the Russian Federation state

pension and social insurance funds, paid annual leave and sick leave, bonuses, and non-monetary benefits
are accrued in the year in which the associated services are rendered by the employees of the Group. The
Group has no legal or constructive obligation to make pension or similar benefit payments beyond the
payments to the statutory defined contribution scheme.

Segment reporting

. Segments are reported in a manner consistent with the internal reporting provided to

the Group’s chief operating decision maker. Segments whose revenue, result or assets are ten percent or
more of all the segments are reported separately.

Equity-settled share-based payment.

The expense is recognized over the vesting period and is

measured at the fair value of the award determined at the grant date, which is amortized over the service
(vesting) period. The fair value of the equity award is estimated only once at the grant date and is trued up
to the estimated number of instruments that are expected to vest. Dividends declared during the vesting
period accrue and are paid to the employee together with the sale proceeds of the vested shares upon a
liquidity event. Expected dividends (including those expected during the vesting period) are therefore
included in the determination of fair value of the share-based payment.

Amendments of the consolidated financial statements after issue.

The Board of Directors of the

Company has the power to amend the consolidated financial statements after issue.

Changes in presentation.

Starting from 1 January 2018 the Group changed presentation of interest

income and expense following the application of IFRS 9 and the consequential amendment of IAS 1. In
these consolidated financial statements the Group changed presentation of the consolidated statement of
profit or loss and other comprehensive income for the year ended 31 December 2017. These changes were
implemented to increase comparability of the financial information for 2017 with the respective information
for 2018.

The effect of changes on the consolidated statement of profit or loss and other comprehensive income for
the year ended 31 December 2017 is as follows:

In millions of RR

As originally

presented

Reclassification As reclassified

Interest income

59,541

(59,541)

Interest expense

(12,824)

12,824

Interest income calculated using the effective interest rate

method

59,317

Other similar income

224

Interest expense calculated using the effective interest rate

method

(12,824)

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Significant Accounting Policies (Continued)

The effect of changes on the consolidated statement of cash flows for the year ended 31 December 2017
is as follows:

In millions of RR

As originally

presented

Reclassification As reclassified

Interest received

60,636

(60,636)

Interest paid

(12,159)

12,159

Interest income calculated using the effective interest rate

method received

60,422

Other similar income received

214

Interest expense calculated using the effective interest rate

method paid

(12,159)

From 1 January 2018 the management of the Group refined the approach to the presentation of cash flows
related to the salaries and other contributions paid to employees of the Group in the consolidated statement
of cash flows. The management concluded it was appropriate to reclassify these cash flows from Net
increase in customer accounts to Administrative and other operating expenses paid and Customers
acquisition expenses paid in the consolidated statement of cash flows. The effect of reclassifications was
as follows on amounts in the consolidated statement of cash flows for the year ended 31 December 2017:

In millions of RR

As originally

presented

Reclassification As reclassified

Administrative and other operating expenses paid

(6,230)

(3,756)

(9,986)

Customer acquisition expense paid

(5,860)

(2,302)

(8,162)

Net increase in customer accounts

44,249

6,058

50,307

From 1 January 2018 the management of the Group refined the approach to the presentation of cash flows
related to the recovery of amounts of loans previously written-off as uncollectible in the consolidated
statement of cash flows. The management concluded it was appropriate to reclassify these cash flows from
Interest income calculated using the effective interest rate method received to the separate line Recoveries
from written-off loans in the consolidated statement of cash flows.

The effect of reclassifications was as follows on amounts in the consolidated statement of cash flows for
the year ended 31 December 2017:

In millions of RR

As originally

presented

Reclassification As reclassified

Interest income calculated using the effective interest rate

method received

60,422

(1,991)

58,431

Recoveries from written-off loans

1,991

Critical Accounting Estimates and Judgements in Applying Accounting Policies

The  Group  makes  estimates  and  assumptions  that  affect  the  amounts  recognized  in  the  consolidated
financial  statements  and  the  carrying  amounts  of  assets  and  liabilities  within  the  next  financial  year.
Estimates  and  judgements  are  continually  evaluated  and  are  based  on  management’s  experience  and
other  factors,  including  expectations  of  future  events  that  are  believed  to  be  reasonable  under  the
circumstances. Management also makes certain judgements, apart from those involving estimations, in the
process  of  applying  the  accounting  policies.  Judgements  that  have  the  most  significant  effect  on  the
amounts recognized in the consolidated financial statements and estimates that can cause a significant
adjustment to the carrying amount of assets and liabilities within the next financial year include:

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Critical Accounting Estimates and Judgements in Applying Accounting Policies (Continued)

ECL measurement.

Calculation and measurement of ECLs is an area of significant judgement and involves

methodology, models and data inputs. The following components of ECL calculation have a major impact
on credit loss allowance: probability of default (“PD”) (impacted by definition of default, SICR) and loss
given default (“LGD”). Refer to Note 34 for explanation of terms. The Group regularly reviews and validates
models and inputs to the models to reduce any differences between expected credit loss estimates and
actual credit loss experience. Refer to Note 34 for further information on ECL measurement.

An increase or decrease in PDs by 1% compared to PDs used in the ECL estimates calculated at
31 December 2018 would result in an increase or decrease in credit loss allowances of RR 1,598 million.

An increase or decrease in LGDs by 1% compared to LGDs used in the ECL estimates calculated at
31 December 2018 would result in an increase or decrease in credit loss allowances of RR 372 million.

Credit exposure on revolving credit facilities.

For credit card loans, the Group's exposure to credit

losses  extends  beyond  the  maximum  contractual  period  of  the  facility.  For  such  facilities  the  Group
measures ECLs over the period that the Group is exposed to credit risk and ECLs are not mitigated by
credit risk management actions. Application of this approach requires judgement: determining a period for
measuring ECLs ‒ the Group considers historical information and experience about: (a) the length of time
for  related  defaults  to  occur  on  similar  financial  instruments  following  a  SICR  and  (b)  the  credit  risk
management actions that the Group expects to take once the credit risk has increased (e.g. the reduction
or removal of undrawn limits).

For details of the period over which the Group is exposed to credit risk on revolving facilities and which is
used as an approximation of lifetime period for ECL calculation for stage 2 and stage 3 loans and advances
to customers, refer to Note 34.

Perpetual subordinated bonds.

A perpetual subordinated bond issue in June 2017 was initially

recognised in the amount of USD 295.8 million (RR 16.9 billion) represented by the funds received from
investors less issuance costs. Subsequent measurement of this instrument is consistent with the
accounting policy for debt securities in issue. Interest expense on the instrument is calculated using the
effective interest rate method and recognised in profit or loss for the year.

In the event the accrued interest is paid, the payment decreases the balance of the liability. A cancellation
of  accrued  interest  for  a  given  period  results  in  its  conversion,  at  the  Group's  option,  into  equity  and
therefore the respective amount of the liability is reclassifed to equity. Foreign exchange translation gains
and  losses  on  the  bond  are  recognised  in  profit  or  loss  for  the  period.  The  Group  has  taken  into
consideration that there  are  genuine contingent settlement provisions that could arise and as such has
classified the perpetual subordinated bond instrument in its entirety as a liability, rather than equity, on the
basis of terms of issue which stipulate the possible redemption of the instrument in several cases other
than liquidation of the issuer. If the Group had recognized this instrument as equity, then interest expense
would only have been recognized when it was paid and treated as a distribution from equity rather than an
expense in profit or loss.

The Group has also invested in perpetual subordinated bonds issued by third parties. The Group has taken
into consideration that there are genuine contingent settlement provisions that could arise and as such has
classified the investments in perpetual subordinated bonds as investments in debt securities on the basis
of terms of issue which stipulate the possible redemption of the instrument in several cases other than
liquidation of the issuer.

The investments in these instruments are classified as debt investment securities measured at FVTPL since
the analysis of the contractual cash flow characteristics resulted in acquired perpetual bonds not passing
SPPI test. If the Group had recognized this instrument as equity instrument, then it could have been
measured at FVTPL or FVOCI as the Group does not hold it for trading purposes.

Interest income recognition

. The effective interest method incorporates significant assumptions around

expected loan lives as well as judgements of type of fees and costs that are included in interest income.
Refer to Note 3.

Tax legislation.

Russian and Cypriot tax, currency and customs legislation are subject to varying

interpretations. Refer to Note 36.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Adoption of New or Revised Standards and Interpretations

Adoption of IFRS 9 – Financial Instruments (IFRS 9) (issued on 24 July 2014 and effective for annual
periods beginning on or after 1 January 2018).

The Group has adopted IFRS 9 with a date of transition

of 1 January 2018, which resulted in changes in accounting policies for recognition, classification and
measurement of financial assets and liabilities and impairment of financial assets.

The Group elected not to restate comparative figures and recognised any adjustments to the carrying
amounts of financial assets and liabilities at the date of initial application in the opening retained earnings
and other reserves of the current period. The comparative period disclosures repeat those disclosures
made in the prior period. Consequently, for notes disclosures, the consequential amendments to IFRS 7 –
Financial Instruments: Disclosures (IFRS 7) disclosures have also only been applied to the current period.

Details of the specific IFRS 9 accounting policies applied in the current period are described in Note 3.
Accounting policies applied prior to 1 January 2018 and applicable to the comparative information are
disclosed in Note 43. The impact of the IFRS 9 adoption on the Group is disclosed below.

The following table reconciles the carrying amounts of financial assets, from their previous measurement
categories in accordance with IAS 39 into their new measurement categories upon transition to IFRS 9 on
1 January 2018:

In millions of RR

Measurement

category

Carrying

value per

IAS 39

(closing

balance at

31 December

2017)

Effect

Carrying

value per

IFRS 9

(opening

balance at

1 January

2018)

IAS 39

IFRS 9

Remeasurement

Reclassification

ECL

Other

Manda-

tory

Voluntary

Cash and cash

equivalents

L&R (loans
and
receivables) AC

23,850

Mandatory cash balances

with the Central Bank of
Russian Federation

L&R

1,675

Due from other banks

L&R

777

Loans and advances to

customers

L&R

140,245

(10,546)

129,699

Financial derivatives

FVTPL

2,424

Investments in debt

securities

AFS
(available
for sale)

FVOCI

66,606

(292)

292

166

66,772

Investments in debt

securities

AFS

FVTPL
(manda-
tory)

5,070

Total Investment in debt

securities

71,676

(292)

292

166

71,842

Repurchase receivables

AFS

FVTPL
(manda-
tory)

798

Guarantee deposits with

payment systems

L&R

3,660

Other Financial Assets

L&R,
FVTPL

10,969

(166)

10,803

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Adoption of New or Revised Standards and Interpretations (Continued)

All classes of cash and cash equivalents disclosed in Note 7 were reclassified from L&R measurement
category under IAS 39 to AC measurement category under IFRS 9 at adoption of the standard. The ECL
for cash and cash equivalents balances was immaterial.

Due from other banks and mandatory reserves with the Central Bank were reclassified from L&R
measurement category under IAS 39 to AC measurement category under IFRS 9 at adoption of the
standard. The ECL for due from other banks balances was immaterial.

At 31 December 2017, all of the Group’s financial liabilities except for derivatives were carried at AC. The
derivatives belonged to the FVTPL measurement category under IAS 39. Starting from 1 January 2018 the
Group’s financial liabilities except for derivatives continued to be classified at AC. The derivatives

were

reclassified from FVTPL measurement category under IAS 39 to FVTPL (mandatory) measurement
category under IFRS 9.

The below disclosure provides reconciliation of the carrying amounts of financial instruments by classes
from their previous measurement category in accordance with IAS 39 to their new measurement categories
upon transition to IFRS 9 on 1 January 2018 as well as describes the reasons for such reclassifications for
loans and advances to customers and other assets:

Loans and advances to customers

New classification requirements of IFRS 9 led to changes in classification of loans and advances to
customers as follows:

In millions of RR

Measurement

category

Carrying value

per IAS 39

(closing

balance at

31 December

2017)

Effect

Carrying value

per IFRS 9

(opening

balance at

1 January

2018)

IAS 39

IFRS 9

Remeasurement

Reclassification

ECL

Other

Manda-

tory

Voluntary

Credit card loans

L&R

125,818

(8,638)

1,568

118,748

Instalments

L&R

3,235

(1,667)

(1,568)

Cash loans

L&R

6,663

(161)

6,502

POS loans

L&R

4,529

(80)

4,449

Total Loans and

advances to
customers

140,245

(10,546)

129,699

The main reason for reclassification of instalments to credit card loans is that such reclassification results
in more relevant presentation of classes of loans and advances to customers as instalments represent
restructured, stage 3, credit cards loans to delinquent borrowers.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Adoption of New or Revised Standards and Interpretations (Continued)

The effect of reclassification was as follows in the analysis of loans by credit quality:

31 December 2017

(as originally presented)

31 December 2017

(as reclassified)

In millions of RR

Credit card

loans

Instalment

loans

Cash

loans

POS

loans

Credit card

loans

Cash

loans

POS

loans

Neither past due nor

impaired:

- new

3,824

1,595

1,234

3,824

1,595

1,234

Loans collectively

assessed for
impairment (gross):

- non-overdue

118,193

4,016

5,051

3,304

122,209

5,051

3,304

- less than 30 days

overdue

3,097

360

3,457

- 30 to 90 days

overdue

2,682

302

2,984

- 90 to 180 days

overdue

2,340

239

2,579

- 180 to 360 days

overdue

941

543

1,484

- over 360 days

overdue

1,189

447

1,636

- loans in courts

7,924

Less: Provision for

loan impairment

(14,372)

(2,672)

(337)

(155)

(17,044)

(337)

(155)

Total loans

125,818

3,235

6,663

4,529

129,053

6,663

4,529

Investments in debt securities

New classification requirements of IFRS 9 led to changes in classification of investments in debt securities
as follows:

In millions of RR

Measurement

category

Carrying value

per IAS 39

(closing

balance at

31 December

2017)

Effect

Carrying value

per IFRS 9

(opening

balance at

1 January

2018)

IAS 39

IFRS 9

Remeasurement

Reclassification

ECL

Other

Manda-

tory

Voluntary

Corporate bonds

AFS

FVOCI

48,328

(233)

233

166

48,494

Russian government

bonds

AFS

FVOCI

13,904

(36)

13,904

Municipal bonds

AFS

FVOCI

4,374

(23)

4,374

Perpetual corporate

bonds

AFS

FVTPL

5,070

Total Investments in

debt securities

71,676

(292)

292

166

71,842

Since the Investments in debt securities are measured at fair value under IFRS 9 and were measured at
fair value under IAS 39, the effect of remeasurement and ECL does not impact the carrying value of
Investments in debt securities. The effect of ECL impacts the revaluation gains/losses of debt securities
measured at FVOCI (the ECL amount was reclassified from the revaluation gains/losses to retained
earnings).

Having performed the business model assessment, the Group classified some of the other financial assets
previously measured at FVTPL to FVOCI measurement category, business model “hold to collect and sell”.

TCS Group Holding PLC
Notes to the Consolidated Financial Statements – 31 December 2018

Adoption of New or Revised Standards and Interpretations (Continued)

c. Repurchase

receivables

In millions of RR

Measurement

category

Carrying value

per IAS 39

(closing

balance at

31 December

2017)

Effect

Carrying value

per IFRS 9

(opening

balance at

1 January

2018)

IAS 39

IFRS 9

Remeasurement

Reclassification

ECL

Other

Manda-

tory

Voluntary

Perpetual corporate

bonds

AFS

FVTPL

798

Total Repurchase

receivables

798

The main reasons for reclassifications of investments in debt securities and repurchase receivables were
as follows:

Perpetual corporate bonds with interest payments that are not mandatory.

The Group has invested

in perpetual corporate bonds where the interest payments can be cancelled at the option of the
issuer. Interest payments are not cumulative. The Group has concluded that its contractual cash
flows are not consistent with the basic lending arrangement. Hence the investments in perpetual debt
securities are measured at FVTPL. Refer to Note 4.

Reclassification from retired categories with no change in measurement.

In addition to the above,

the debt instruments previously classified as AFS have been reclassified as measured at FVOCI
under IFRS 9, as their previous category under IAS 39 was 'retired', with no changes to their
measurement basis (except for perpetual corporate bonds as described above). The business model
for these debt financial instruments (except for perpetual corporate bonds) was determined to be
hold to collect contractual cash flows and sell since the Group holds these assets to collect both the
contractual cash flows and the cash flows arising from the sale of assets.

Other financial assets

In millions of RR

Measurement

category

Carrying value

per IAS 39

(opening

balance at

31 December

2017)

Effect

Carrying value

per IFRS 9

(closing

balance at

1 January

2018)

IAS 39

IFRS 9

Remeasurement

Reclassification

ECL

Other

Manda-

tory

Voluntary

Other financial

assets at AC

L&R

- Settlement of

operations with
plastic cards

10,280

- Other receivables

523

Other financial

assets at FVTPL

FVTPL

166

(166)

«Тинькофф Банк». Консолидированная финансовая информация (2018 год) - часть 3