August 20, 2019 / 7:17 AM / a month ago

Russian lender TCS says net profit up 36% in Q2

MOSCOW, Aug 20 (Reuters) - Russian consumer lender TCS Group said on Tuesday its net profit rose 36% in the second quarter to 8.2 billion roubles ($122.37 million).

TCS, the parent company of Tinkoff Bank, said it expects loan growth to be substantially higher than 60% in 2019, having previously forecast growth of at least 60%.

The company also upgraded its guidance for cost of risk to 7-8% from 6-7%. ($1 = 67.0100 roubles) (Reporting by Tatiana Voronova; writing by Anna Rzhevkina; editing by Maria Kiselyova)

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