Frontierby eninvs

Language: EN · RU

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TBank USD

At a glance: strengths & risks
✓Revenue growing (+34%)✓Profit growing (+57%)✓Strong ROE (28%)✓Book value growing (+32%)✓Cheaper than own history (P/E 3.7 vs avg 7.1)

Sector: Financial Services

RU_T

Price chart

254.16 RUBDay 0.02%

Key metrics

Market

Price
254.16 RUB · 0.02%
Market cap
9.6 bn USD

Growth

Δ NII y/y
31.2%
Δ net profit y/y
-15.4%

Multiples

P/E (LTM)
3.7x
3y avg: 7.1x
P/B (FY)
1.0x
3y avg: 1.9x
P/E (ann.)
4.3x

Returns

Dividend yield
5.8%
ROE (annualized)
21.4%
ROI (ROE ÷ P/B)
21.5%

Value creation

annualized net income / market cap (return on equity value)
Banking potential
+19.4%
↓ details

Liquidity

Daily turnover (MOEX)
6.5 bln RUB

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusNet interest incomeM USDNet profitM USDAssetsM USDEquityM USDROE (annualized)Source
2026-06-30Q2 2026 (3M)OK2274.8
y/y 31.2%
554.0
y/y -15.4%
87964.8
y/y 17.8%
10614.0
y/y 23.5%
21.4%Link
2026-03-31Q1 2026 (3M)OK2091.1
y/y 29.2%
490.9
y/y 4.5%
83211.8
y/y 25.4%
10093.6
y/y 27.2%
20.0%Link
2025-12-31Q4 2025 (3M)OK2108.4
y/y 20.2%
1010.8
y/y 86.2%
85325.4
y/y 18.9%
9587.8
y/y 31.5%
29.2%Link
2025-09-30Q3 2025 (3M)OK1833.1
y/y 26.1%
563.0
y/y 6.2%
79946.3
y/y 14.8%
8887.5
y/y 26.5%
8.6%Link
2025-06-30Q2 2025 (3M)OK1733.5
y/y 59.1%
655.0
y/y 99.1%
74702.5
y/y 84.7%
8591.3
y/y 107.2%
31.7%Link
2025-03-31Q1 2025 (3M)OK1618.5
y/y 57.6%
469.8
y/y 50.3%
66357.9
y/y 94.1%
7933.4
y/y 103.0%
24.7%Link
2024-12-31Q4 2024 (3M)OK1753.7
y/y 37.7%
542.8
y/y 14.4%
71779.4
y/y 125.5%
7290.9
y/y 83.3%
24.0%Link
2024-09-30Q3 2024 (3M)OK1453.7
y/y 67.7%
530.1
y/y 59.9%
69667.4
y/y —
7024.7
y/y —
12.7%Link
2024-06-30Q2 2024 (3M)OK1089.7
y/y 152.2%
328.9
y/y 224.9%
40440.9
y/y —
4145.6
y/y —
32.7%Link
2024-03-31Q1 2024 (3M)OK1026.7
y/y 56.1%
312.6
y/y 37.3%
34190.4
y/y —
3908.6
y/y —
31.7%Link
2023-12-31Q4 2023 (3M)OK1273.5
y/y —
474.7
y/y —
31833.4
y/y —
3977.0
y/y —
—Link
2023-09-30Q3 2023 (3M)OK867.0
y/y —
331.5
y/y —
—
y/y —
—
y/y —
—Link
2023-06-30Q2 2023 (3M)OK432.1
y/y —
101.2
y/y —
—
y/y —
—
y/y —
—Link
2023-03-31Q1 2023 (3M)OK657.6
y/y —
227.7
y/y —
—
y/y —
—
y/y —
—Link

Income statement (bank, IFRS)

IFRS decomposition: interest, fee and trading result with provisions, costs and the recurring/non-recurring profit split (bn RUB). Source: eninvs.com.

Item, bn RUB202320242025YoY
Interest income3006931 088 +57%
Interest expense-69.9-314-568 -81%
Net interest income230380520 +37%
Credit-loss provisions-100-259-330 -28%
NII after provisions130120190 +57%
Fee & commission income128182235 +29%
Fee & commission expense-55.0-76.8-88.5 -15%
Net fee & commission income73.1106146 +38%
Financial instruments & investment result9.720.133.9 +68%
Other operating income, net-67.7-23.0-18.9 +18%
Operating income358562755 +34%
Administrative & other expenses (SG&A)-123-198-276 -39%
Profit before tax103152253 +66%
Income tax-22.4-30.1-61.0 -103%
Net profit80.9122192 +57%
of which recurring73.3106167 +57%
of which non-recurring7.616.225.8 +59%
Key ratios (annual)
ROE37.8%30.4%32.0% +1.6 pp
Cost of risk (CoR)12.77%14.77%11.58% -3.2 pp
Cost-to-income (CIR)34.3%35.3%36.6% +1.3 pp
Net interest margin (NIM)12.97%10.28%9.28% -1.0 pp

Quarterly dynamics & ratios

ROE = net profit ×4 / avg equity; CoR = provisions ×4 / avg credit portfolio; CIR = admin expense / operating income; NIM = NII ×4 / avg assets.

Quarter24/09
Q3		24/12
Q4		25/03
Q1		25/06
Q2		25/09
Q3		25/12
Q4		26/03
Q1		26/06
Q2
P&L, bn RUB
Net interest income104125115124131151149162
Provisions-83.9-87.0-67.4-92.1-92.1-78.9——
Net fee income29.533.730.034.038.543.6——
Financial instruments & investment16.04.243.435.2-1.123.041.077.2
Operating income153182115124191218149162
Admin (SG&A)-55.2-67.1-15.4-15.3-69.3-74.4-19.8-23.7
Net profit37.838.733.546.740.172.135.039.5
Balance (period-end), bn RUB
Credit portfolio2 5972 5372 5332 7742 9383 1693 2413 460
Securities portfolio (bonds)526532557746730755852946
Customer deposits3 9054 0103 7114 0004 2444 4124 1764 369
Other assets1 8452 0491 6411 8062 0322 1601 8401 867
Total assets4 9675 1184 7315 3265 7006 0845 9336 272
Equity501520566613634684720757
Key ratios (annualised)
ROE (annualised)38.0%30.3%24.7%31.7%25.8%43.8%20.0%21.4%
Cost of risk (CoR)17.73%13.56%10.64%13.88%12.90%10.33%——
Cost-to-income (CIR)36.0%37.0%13.3%12.4%36.2%34.1%13.3%14.6%
Net interest margin (NIM)10.56%9.92%9.37%9.83%9.48%10.27%9.93%10.63%

Monthly operating statistics (RAS, bank charter)

<div class='muted' style='font-size:.72rem;line-height:1.2'>12.8 bln mo</div> source: CBR

Bank potential breakdown (Return per share)
ReportedMonthly ×12
Reporting periodH1 2026
RAS profit, quarter months
Jan 2026 19.4 bln
Feb 2026 13.8 bln
Mar 2026 17.3 bln
Apr 2026 7.3 bln
May 2026 15.9 bln
Jun 2026 14.7 bln
Annualised profit, mln RUB149.0 bln176.2 bln
Book (equity)756.8 bln756.8 bln
ROE (annualised)20%23%
Price / Book1.10x1.10x
Potential [ROE / P/B]+18%+21%

Potential = annualised net profit / market cap (= ROE / P/B). 'Reported' is the last IFRS quarter annualised; 'Forecast' adjusts it for seasonality from the latest monthly RAS data (multiplier X = profit of the most recent months / profit of the quarter's months); 'Monthly ×12' annualises the latest RAS month. RAS = parent bank charter, IFRS = group; the bases differ, so the forecast is a momentum indicator.

PeriodNet interest income (YTD)Net operating result (YTD)Pre-tax profit (YTD)Net profit (YTD)Total comprehensive income
Jun 2026166.9 bln
+109.3% y/y · 28.4 bln mo +84.4%
-51.8 bln
-13.6% y/y · -9.3 bln mo -12.8%
115.2 bln
+479.7% y/y · 19.1 bln mo +305.0%
88.2 bln
+591.1% y/y · 14.7 bln mo +280.7%
87.7 bln
+298.2% y/y · 12.9 bln mo +83.5%
May 2026138.5 bln
+115.2% y/y · 24.7 bln mo +84.2%
-42.5 bln
-13.7% y/y · -4.5 bln mo -57.8%
96.1 bln
+534.0% y/y · 20.2 bln mo +624.7%
73.6 bln
+725.4% y/y · 15.9 bln mo +9194.3%
74.8 bln
+398.8% y/y · 16.2 bln mo +1387.4%
Apr 2026113.8 bln
+123.4% y/y · 36.0 bln mo +171.7%
-38.0 bln
-1.6% y/y · -21.4 bln mo +149.2%
75.9 bln
+513.5% y/y · 14.6 bln mo +213.2%
57.7 bln
+560.1% y/y · 7.3 bln mo +215.7%
58.6 bln
+321.6% y/y · 9.1 bln mo -1009.7%
Mar 202677.9 bln
+106.5% y/y · 25.6 bln mo +70.2%
-16.6 bln
-44.7% y/y · -4.5 bln mo -57.0%
61.3 bln
+694.5% y/y · 21.1 bln mo +360.7%
50.4 bln
+684.1% y/y · 17.3 bln mo +340.3%
49.6 bln
+232.7% y/y · 17.5 bln mo +493.4%
Feb 202652.3 bln
+130.6% y/y · 25.9 bln mo +130.8%
-12.1 bln
-38.2% y/y · -8.3 bln mo -7.7%
40.2 bln
+1182.9% y/y · 17.7 bln mo +677.5%
33.1 bln
+1222.8% y/y · 13.8 bln mo +737.8%
32.1 bln
+168.6% y/y · 13.1 bln mo +36.1%
Jan 202626.3 bln
+130.4% y/y · 26.3 bln mo +130.4%
-3.8 bln
-64.0% y/y · -3.8 bln mo -64.0%
22.5 bln
+2517.6% y/y · 22.5 bln mo +2517.6%
19.4 bln
+2148.9% y/y · 19.4 bln mo +2148.9%
19.0 bln
+724.2% y/y · 19.0 bln mo +724.2%
Dec 2025221.1 bln
+25.6% y/y · 28.8 bln mo
-87.1 bln
-15.2% y/y · -639 mln mo
134.0 bln
+82.8% y/y · 28.1 bln mo
112.1 bln
+84.7% y/y · 24.2 bln mo
121.7 bln
+129.3% y/y · 26.8 bln mo
Nov 2025192.3 bln
26.7 bln mo
-86.5 bln
-2.5 bln mo
105.9 bln
24.2 bln mo
87.9 bln
20.3 bln mo
94.9 bln
19.4 bln mo
Oct 2025165.6 bln
29.1 bln mo
-83.9 bln
-3.1 bln mo
81.7 bln
26.0 bln mo
67.6 bln
19.5 bln mo
75.6 bln
19.6 bln mo
Sep 2025136.5 bln
21.5 bln mo
-80.8 bln
-4.6 bln mo
55.6 bln
16.9 bln mo
48.1 bln
14.9 bln mo
56.0 bln
13.8 bln mo
Aug 2025115.0 bln
16.0 bln mo
-76.3 bln
-6.2 bln mo
38.7 bln
9.9 bln mo
33.3 bln
7.7 bln mo
42.2 bln
7.4 bln mo
Jul 202599.0 bln
19.2 bln mo
-70.1 bln
-10.2 bln mo
28.9 bln
9.0 bln mo
25.5 bln
12.8 bln mo
34.8 bln
12.8 bln mo

Capital adequacy ratios (CBR)

Bank of Russia form 0409135 · latest reporting date 01.07.2026 (June 2026) · systemically important

Н1.012.55%headroom +2.55min. 10.00%
Н1.211.30%headroom +3.30min. 8.00%
Н1.19.09%headroom +2.59min. 6.50%
Н20.012.99%headroom +2.99group, 01.04.2026
group:
9.412.512.55%08.202507.2026ratio · dashed — minimum · bars — headroom
DateН1.0, % (headroom)Н1.2, % (headroom)Н1.1, % (headroom)Н20.0, % (headroom)Н20.2, % (headroom)Н20.1, % (headroom)Н2, %Н3, %Н4, %Status
01.07.202612.55 (+2.55)11.30 (+3.30)9.09 (+2.59)———103.00230.5636.38ok
01.06.202612.47 (+2.47)11.44 (+3.44)9.28 (+2.78)———146.52205.3036.29ok
01.05.202612.36 (+2.36)11.58 (+3.58)9.35 (+2.85)———150.38217.1835.68ok
01.04.202612.67 (+2.67)11.83 (+3.83)9.49 (+2.99)12.99 (+2.99)12.05 (+4.05)9.70 (+3.20)110.11177.4635.57ok
01.03.202612.48 (+2.48)11.32 (+3.32)9.00 (+2.50)———137.58124.8235.00ok
01.02.202612.45 (+2.45)11.43 (+3.43)9.10 (+2.60)———144.51130.8134.88ok
01.01.202612.41 (+2.41)11.45 (+3.45)9.08 (+2.58)12.46 (+2.46)11.78 (+3.78)9.40 (+2.90)118.52151.6234.65ok
01.12.202511.88 (+2.63)11.37 (+4.12)9.39 (+3.64)———148.43134.7034.64ok
01.11.202511.55 (+2.30)10.21 (+2.96)8.19 (+2.44)———186.94109.4833.94ok
01.10.202511.44 (+2.19)10.25 (+3.00)8.20 (+2.45)11.81 (+2.56)10.50 (+3.25)8.45 (+2.70)169.23116.7433.08ok
01.09.202511.13 (+1.88)10.23 (+2.98)8.21 (+2.46)———160.06152.6332.94ok
01.08.202511.15 (+1.90)10.37 (+3.12)8.32 (+2.57)———181.26159.1831.93ok

CBR reporting dates are the 1st of the month, i.e. the previous month's close. Figures in brackets are headroom over the minimum incl. buffers; «r» marks a value taken from the bank's own release (clickable). N20.x are banking-group ratios, N2/N3/N4 are liquidity ratios, N27 is the NSTLR.

All banks, full history and liquidity ratios →

Dividend potential

Dividend-model upside: +2%

The payout is forecast from smoothed profit × payout ratio, capped by free cash flow (developers exempt — escrow) and floored at the recent actual dividend (companies hold payouts while profitable). Fair yield = key rate + the historical yield-spread to the rate (so growers that historically traded below the rate score higher). Upside = fair price / current − 1.

1 · Forecast dividend (per policy)
Smoothed net profit (median YTD-ann./LTM/FY)187 bn RUB
Payout ratio74%
Free cash flow (FY, OCF − capex)-200 bn RUB
Recent actual dividend (3-yr median)16.20 ₽
= Forecast dividend per share25.92 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.0%
Historical yield spread to rate (3-yr median)-13.0 pp
= Fair dividend yield (bank floor ≈ rate−3.5)10.5%
3 · Valuation → upside
Current price250 ₽
Forecast dividend yield10.4%
Fair price (dividend-based)255 ₽

Forecast, not investment advice. Earnings annualization and policy assumptions are estimates.

Dividend history

Paid, trailing 12-mo: 16.20 RUB/sh · 6.5%

Pay yearDividend /sh
202617.40 ₽
202510.00 ₽
20249.25 ₽
20211.78 ₽
20204.18 ₽
20181.77 ₽
20174.47 ₽
20161.30 ₽
Payments by period
PeriodEx-date/sh
2026 q42026-10-114.70 ₽
2026 q32026-08-074.60 ₽
2026 q22026-05-224.50 ₽
2026 q12026-01-063.60 ₽
2025 q42025-10-033.50 ₽
2025 q32025-07-163.30 ₽
2025 q22025-05-153.20 ₽
2024 q42024-11-229.25 ₽
2021 q12021-03-241.78 ₽
2020 q42020-11-231.91 ₽

Dividends

No dividend rows found for this issuer.

Trading microstructure: order book & tape

Share of volume initiated by buyers (crossing the spread):
1d: 52% buy — balanced5d: 50% buy — balanced20d: 50% buy — balanced

Iceberg levels last session: 2 bid / 0 ask; largest — bid 256.7 (filled ×3.1 of displayed, 45 refills).
Robot clips (recurring characteristic order size): 11 bid / 11 ask; largest — bid 2013 lots ×783 appearances across 265 price levels. Ping probes (1-2 lots, typical iceberg hunting): bid ×1137, ask ×758.

DayBuyer initiativeIcebergs bid/askRobots bid/askTrades
25.0852%2/011/1149,595
24.0850%2/36/746,747
21.0852%1/07/731,204
20.0849%0/38/1149,975
19.0849%1/09/1135,020

Source: L2 order book + trade tape (TQBR main session, ~23 liquid names). Trade side = the aggressor crossing the spread. Iceberg = level filled a multiple of its displayed size with regular refills. Robot clip = a non-round order size recurring hundreds of times across dozens of price levels (an algo's fingerprint migrating with price); ping = 1-2 lot probe orders. Updated nightly.

Investment-community mentions

Substantive mentions last 7 days: 1 (1 positive), last 30 days: 12 (10 positive) across tracked channels, broker research and shows. 19 passing mentions (digests, calendars) hidden.

Sources: Telegram channels (bloggers — blue chip, broker research — green), YouTube shows via transcripts (orange). Tone (▲/▼) is an automatic assessment in the stock's context. Quotes are fragmentary; authors' views are not our recommendations.

Corporate events

11.08.26AGM / Board★ ▲ Решения совета директоров (наблюдательного совета)
Совет директоров МКПАО «Т-Технологии» единогласно принял решение провести внеочередное заочное голосование общего собрания акционеров 1 октября 2026 года, включая выплату дивидендов в размере 4,7 руб. на акцию. Дивиденды будут выплачены не позднее 26 октября 2026 года для профессиональных участников и 17 ноября 2026 года для остальных акционеров.
03.08.26Filing★ ▲ Дата определения (фиксации) лиц, имеющих право на осуществление прав по ценным бумагам эмитента
10 августа 2026 года будет определена дата фиксации лиц, имеющих право на получение дивидендов по обыкновенным акциям МКПАО «Т-Технологии» за первый квартал 2026 года. Дивиденды будут выплачиваться по результатам деятельности компании.
03.08.26AGM / Board★ ▲ Решения общих собраний участников (акционеров)
На внеочередном собрании акционеров МКПАО 'Т-Технологии' принято решение о выплате дивидендов в размере 4,6 руб. на акцию по результатам первого квартала 2026 года. Дивиденды будут выплачены не позднее 24 августа 2026 года для номинальных держателей и не позднее 14 сентября 2026 года для остальных акционеров.
29.07.26Filing★ ▼ Проведение заседания совета директоров (наблюдательного совета) и его повестка дня
Совет директоров МКПАО 'Т-Технологии' проведет заседание 3 августа 2026 года для утверждения программы облигаций и проспекта ценных бумаг. Обсуждаемые акции имеют госрегистрационный номер 1-01-16784-А и ISIN RU000A107UL4.
21.05.26Filing★ ▲ Созыв общего собрания участников (акционеров)
Внеочередное общее собрание акционеров МКПАО «Т-Технологии» состоится 30 июля 2026 года с заочным голосованием. В повестке дня - вопрос о выплате дивидендов за первый квартал 2026 года. Акционеры могут ознакомиться с материалами собрания с 7 по 30 июля 2026 года.
18.03.26Material event★ ▲ События (действия), оказывающие, по мнению эмитента, существенное влияние на стоимость или котировки его ценных бумаг
Компания 'Т-Технологии' заключила соглашение о приобретении бизнеса Авто.ру через подконтрольное юридическое лицо. Это событие может существенно повлиять на стоимость её обыкновенных акций, зарегистрированных под номером 1-01-16784-А и ISIN RU000A107UL4.

Source: e-disclosure material filings over the last 180 days; ★ — flagged important by the classifier; summaries are automatic.

RU equity fund ownership

Disclosed in the top-10 of 12 of 17 funds, ≈3,4 млрд ₽ combined. Last month: trimmed — 1.

FundManagerWeight≈PositionΔ weight m/mDisclosure
AMRE АТОН – Российские акции +Атон-менеджмент9.43%62 млн ₽—30.06.2026
AKME Альфа-Капитал Управляемые акцииАльфа-Капитал9.24%1,2 млрд ₽—30.06.2026
TITR Т-Капитал Акции ростаТ-Капитал9.13%27 млн ₽—30.06.2026
AKIE Альфа-Капитал Управляемые акции с выплатой доходаАльфа-Капитал7.81%25 млн ₽-0.64 pp30.06.2026
GROD ДОХОДЪ Индекс акций ростаДОХОДЪ6.77%12 млн ₽—30.06.2026
TRND Т-Капитал Трендовые акцииТ-Капитал6.58%32 млн ₽—30.06.2026
BCSR БКС Индекс Российского рынкаБрокеркредитсервис6.02%17 млн ₽—30.06.2026
SBPS Первая – Фонд Моя цель 2035Первая5.45%8 млн ₽—30.06.2026
SBMX Первая - Фонд Топ Российских акцийПервая4.90%861 млн ₽—30.06.2026
TMOS Т-Капитал Индекс МосБиржиТ-Капитал4.85%604 млн ₽—30.06.2026
EQMX ВИМ - Индекс МосБиржиВИМ Инвестиции4.76%540 млн ₽—30.06.2026
AKUP Альфа-Капитал Умный портфельАльфа-Капитал4.33%13 млн ₽—30.06.2026

Source: monthly fund portfolio disclosures (investfunds); NAV is daily. Disclosures list each fund's top-10 only, so absence does not mean no position. Weight changes mix revaluation with trading. Fund flows and betas live in the fund monitor on the RU region page.

Investor reporting (IR): https://www.e-disclosure.ru/portal/files.aspx?id=39055

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of TBank — from primary filings.

T (ticker RU_T) is a Russian telecommunications and digital services provider, offering mobile and fixed-line connectivity, as well as digital entertainment and financial technology solutions.

Frequently asked questions

What is TBank's P/E ratio?
TBank trades at a P/E of 3.7x (price to trailing 12-month earnings).
What is TBank's P/B ratio?
TBank trades at a P/B of 1.0x.
What is TBank's dividend yield?
TBank's trailing 12-month dividend yield is 5.8%.
What is TBank's return on equity (ROE)?
TBank's ROE is 21.4%.
What is TBank's market capitalization?
TBank's market cap is 9.6 bn USD.

Bonds by this issuer

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