29 Apr 2015 09:10
TCS Group Holding PLC Issues 2014 Annual Report
Moscow, Russia - 29 April 2015.TCS Group Holding PLC (TCS LI) (the "Group"), Russia's leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces the publication of its Annual Report for the year ended 31 December 2014.
A copy of the Annual Report has been submitted to the Financial Conduct Authority (the 'FCA') in the United Kingdom via the National Storage Mechanism and will be available for inspection shortly at www.morningstar.co.uk/uk/nsm
The Annual Report is now available on the website at https://static.tinkoff.ru/documents/investor-relations/annual-reports/2014/TCS_AR14.pdf
For enquiries: | |
Tinkoff Bank Darya ErmolinaHead of PR + 7 495 648-10-00 (ext. 2009) d.ermolina@tinkoff.ru
| Tinkoff Bank Larisa Chernysheva IR Department + 7 495 648-10-00 (ext. 2312) ir@tinkoff.ru
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FTI Consulting London Larisa Millings +44 (0) 20 3727 1364
| FTI Consulting Moscow Olga Lundquist +7 495 795-06-23
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About the Group
TCS Group Holding PLC 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, the Group 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, a renowned Russian entrepreneur with a long track record of creating successful businesses, the Group has grown into a leader in the Russian credit card market. As of 1 March 2015, the Group has issued 5 mln credit cards.
In addition to a market-leading credit card offering, the Group has developed a successful online retail deposits programme. The Group's other innovative lines of business include Tinkoff Online Insurance, which enables the Group to underwrite and sell its own innovative online insurance products, and Tinkoff Mobile Wallet, mobile payment solutions and financial services for Russian consumers.
As of 31 December 2014, the Group's total assets amounted to RUB 108.8 bn, net loans and advances to customers stood at RUB 74.6 bn and customer accounts (deposits) amounted to RUB 43.4 bn. In 2014, the Group generated a net profit of RUB 3.4 bn and net interest income of RUB 30.8 bn.
The Group is well capitalised with the total capital ratio and Tier 1 capital ratio of 21.8%and 15.9%, respectively, in accordance with Basel III methodology.
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 Group and Tinkoff 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 Group and Tinkoff Bank wish to caution you that these statements are only predictions and that actual events or results may differ materially. The Group and Tinkoff 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 Group and Tinkoff Bank, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries the Group operates in, as well as many other risks specifically related to the Group, Tinkoff Bank and their respective operations.