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TCS Group Holding PLC (TCS)
TCS Group Holding PLC: Statement regarding the current market volatility
10-Apr-2018 / 11:59 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
TCS Group statement regarding market volatility
Moscow, Russia - 10 April 2018. TCS Group Holding PLC (TCS LI) (the
"Group"), Russia's leading provider of online retail financial services via
its Tinkoff.ru financial supermarket, today comments on the current market
volatility.
The Group's total exposure to companies added to the OFAC SDN list on 6
April 2018 is USD 20m or less than 0.5% of the Group's total assets. This
exposure is limited to senior Eurobonds and is immaterial to the Group's
financial performance. The Group has always applied a policy of managing a
well-diversified treasury portfolio by taking small, short-duration
positions in high-grade bonds. The bulk of these bonds are repoable with the
CBR.
Other than the exposure mentioned above, the current situation has no direct
impact on TCSGH. Business is going on as usual and the Group is well on
track to meet its Net Income target of at least RUB 24bn in 2018.
For enquiries:
Tinkoff Bank Tinkoff Bank
Darya Ermolina Larisa Chernysheva
Head of PR IR Department
+ 7 495 648-10-00 (ext. 2009) + 7 495 648-10-00 (ext. 2312)
d.ermolina@tinkoff.ru ir@tinkoff.ru [1]
About the Group
TCS Group is an innovative provider of online retail financial services
operating in Russia through a high-tech branchless platform. TCS Group
includes Tinkoff Bank, mobile virtual operator network Tinkoff Mobile,
Tinkoff Insurance, and Tinkoff Software DC, a network of IT development hubs
across Russia.
The Group was founded in 2006 by the Russian entrepreneur Oleg Tinkov and
has been listed on the London Stock Exchange since October 2013.
With no retail branches, the Group serves its customers remotely via online
channels and its call centre, and operates a network of over 2,500
representatives to ensure smooth delivery of its products. The network
covers all of Russia and allows next day delivery to most customers.
The Group's key business is Tinkoff Bank, Russia's first and only direct
bank offering both own brand and partner retail financial services via its
Tinkoff.ru platform. The 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).
As at 1 February 2018, the bank was the second largest player in the Russian
credit card market, with a market share of 11.7%. The FY 2017 IFRS net
income of TCS Group Holding PLC amounted to RUB 19.0 bn, ROE stood at 53%.
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.
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.
ISIN: US87238U2033
Category Code: STR - Statement regarding the current market volatility
TIDM: TCS
LEI Code: 549300XQRN9MR54V1W18
Sequence No.: 5381
End of Announcement EQS News Service
672915 10-Apr-2018
1: mailto:ir@tcsbank.ru
(END) Dow Jones Newswires
April 10, 2018 05:59 ET (09:59 GMT)
