29 Nov 2013 12:30
"TINKOFF CREDIT SYSTEMS" BANK
TCS Bank Wins 'Bank of the Year in Russia' Award
Moscow, Russia - 29 November 2013. TCS Group Holding PLC (TCS LI) (the "Company"), including "Tinkoff Credit Systems" Bank ("TCS Bank"), Russia's leading provider of online retail financial services, today announces that TCS Bank was named the Bank of the Year in Russia for 2013 by The Banker magazine, a part of the Financial Times Group.
The Banker's international panel of judges selected TCS Bank for the first time in its history from more than ten Russian banks, which competed for the title 'Bank of the Year in Russia', based on both its financial performance and innovative approach.
Commenting on the award, Oliver Hughes, CEO of TCS Bank, said: "We are honoured to be chosen as the Bank of the Year in Russia. This prestigious award is a recognition of our achievements in building a distinctive business model to become Russia's leading provider of online retail financial services. Since the launch in 2007, TCS Bank has been demonstrating impressive growth, balancing high profitability with conservative risk management. We will continue to expand our business and bringing innovative financial services and products to the Russian market, such as the recently launched Tinkoff Mobile Wallet."
The Banker magazine writes: "This year's winner in Russia not only leads its domestic market in terms of return on equity and technological innovation - it is one of the stand-out banks in the world on both counts. And since it remains a branchless bank, the focus on technology and alternative delivery channels is relentless."
For enquiries:
"Tinkoff Credit Systems" Bank
Elena Shushunova, PR department
+ 7(495) 648 1000 (ext. 2244), +7 (916) 804 3276
e.shushunova@tcsbank.ru
FTI Consulting London
Larisa Millings
+44 (0)20 7269 7153
FTI Consulting Moscow
Maria Shiryaevskaya
+7 495 795 06 23
About TCS Bank
TCS Bank is an innovative provider of online retail financial services operating in Russia through a high-tech branchless platform. In order to support its branchless platform, TCS Bank has also developed a "smart courier" network covering almost 600 cities and towns in Russia which allows next day delivery to many customers.
Since its launch in 2007 by Mr. Oleg Tinkov, one of the best known Russian entrepreneurs with a long track record of creating successful businesses, TCS Bank has grown into a leader in the Russian credit card market, with the third largest credit card loan portfolio and a market share of 7.7% based on non-delinquent receivables (according to Central Bank of Russia ("CBR") data, as of 1 July 2013). As of 30 June 2013 TCS Bank had issued over 3.5 million credit cards.
In addition to a market-leading credit card offering, TCS Bank has developed a successful online retail deposits programme and currently has been expanding to bring additional innovative online products and services to Russian consumers, including mobile financial services, payment solutions and insurance.
As of 30 June 2013, TCS Bank's total assets amounted to US$2,419 million, loans and advances to customers stood at US$1,952 million and customer accounts (deposits) amounted to US$977 million. In the six months ended 30 June 2013, TCS Bank generated a net profit of US$79 million and net interest income of US$394 million.
TCS Bank is well capitalised with the CBR N1 capital adequacy ratio at 17.1% as of 1 July 2013, while under international Basel III guidelines, its total capital ratio was 22.0% and Tier 1 capital ratio was 15.0% as of 30 June 2013.
The Company's shares, in the form of Global Depositary Receipts, have been trading on the London Stock Exchange since October 2013.
Forward-looking statements
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company or TCS Bank. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might", the negative of such terms or other similar expressions. The Company and TCS Bank wish to caution you that these statements are only predictions and that actual events or results may differ materially. The Company and TCS Bank do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company or TCS Bank, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries TCS Bank operates in, as well as many other risks specifically related to the Company, TCS Bank and their respective operations.