Dow Jones received a payment from EQS/DGAP to publish this press release.
TCS Group Holding PLC / Product Launch
TCS Group Holding PLC: Tinkoff Bank to launch a mobile virtual network
operator
05-Apr-2017 / 10:42 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS,
LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*Tinkoff Bank to launch a mobile virtual network operator*
*Moscow, Russia - 5 April 2017.* 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 launch of
its own mobile virtual network operator (MVNO).
The MVNO will use Tele2 Russia's network and infrastructure to provide
mobile services for both current Tinkoff's customers and others; and will
have its own network code, number range and SIM cards which will be
delivered across Russia via Tinkoff's smart courier network.
*Oliver Hughes, CEO of Tinkoff Bank, said,* 'We have recently been seeing
finance and telecoms increasingly converging with each other lately. The
launch of our own MVNO is a logical and timely addition to our range of
products and services. This is part of our strategy to build a fully-fledged
ecosystem based around our online platform Tinkoff.ru.
The MVNO will leverage the core strengths and expertise of both our
financial retail business and our best in class customer service to deliver
great value for both our current customers and future mobile customers. It
will significantly contribute to our value proposition. And we will even
further improve customer experience to retain customers and build up our
loyalty base. Furthermore, some cost synergies are expected by reducing
servicing expenses. This new business arm is set to make yet another
non-credit revenue pool for our business.'
*George Chesakov, Tinkoff Bank VP, Head of MVNO project, said*, 'Ten years
ago, we launched Tinkoff Bank, which successfully weathered the economic
downturn and tough competition to evolve into Russia's most
technology-intensive bank and the world's largest online only bank by
customer base. Today, we are about to launch an MVNO in an industry that's
even more competitive. And yet, just like ten years ago, we see a new
opportunity in the market to tap into. With our extensive expertise, we are
well-positioned to create a mobile network operator and make it successful
by keeping its customers happy.'
The date when the new mobile service will be available for customers will be
announced in due course.
*For enquiries:*
Tinkoff Bank
*Darya Ermolina*
Head of PR
+ 7 495 648-10-00 (ext. 2009)
d.ermolina@tinkoff.ru
*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. The
Group has also developed a 'smart courier' network covering almost all
cities and towns in Russia which allows next day delivery to many customers.
Tinkoff Bank's product range includes daily banking (credit and debit cards,
payments, money transfers), savings, investments, loyalty programmes, travel
services, SME services, mortgage platform, and insurance. With its special
focus on mobile business, the bank offers mobile applications both for its
customer base (Mobile Bank) and beyond it (Traffic Fines, MoneyTalk, Card 2
Card instant money transfers).
Tinkoff is transitioning to become an online financial marketplace,
Tinkoff.ru, which offers an entire range of both own brand and partner
retail financial services via mobile and desktop.
As at 1 March 2017, the bank was the second largest player in the Russian
credit card market, with a market share of 10.6%. The FY2016 IFRS net income
of the parent company, TCS Group Holding PLC, which includes Tinkoff Bank
and the insurance company Tinkoff Insurance, amounted to RUB 11 bn, ROE
stood at 43%.
Banki.ru, Russia's largest financial news portal, named Tinkoff Bank the
Bank of the Year 2016. In October 2016 Tinkoff Bank was named the largest
independent global direct bank by Frost & Sullivan. In 2015 and 2016, the
Global Finance magazine named Tinkoff Bank as the Best Consumer Digital Bank
in Russia. In 2016, the bank also won Global Finance's Best Integrated
Consumer Bank Site award and was named the Best Digital Bank in the CEE by
Euromoney. The bank's mobile application was recognised as the best in
Russia by Markswebb Rank & Report for three consecutive years in 2014, 2015
and 2016, and by Deloitte for four consecutive years from 2013 to 2016.
The EquityStory.RS, LLC Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de/ukreg
Language: English
Company: TCS Group Holding PLC
2nd Floor, Sotiri Tofini 4, Agios Athanasios
4102 Limassol
Cyprus
Phone: +7 495 648-10-00
Fax: +7 495 645-59-09
E-mail: media@tinkoff.ru
Internet: https://www.tinkoff.ru
ISIN: US87238U2033
Listed: Foreign Exchange(s) London, Moscow
Category Code: PRL
TIDM: TCS
LEI Code: 549300XQRN9MR54V1W18
Sequence No.: 4032
End of Announcement EquityStory.RS, LLC News Service
562109 05-Apr-2017
(END) Dow Jones Newswires
April 05, 2017 04:43 ET (08:43 GMT)
