TCS Group Holding PLC (TCS)
TCS Group Holding PLC announces plans to invest in new fintech project in
Europe
06-Feb-2020 / 12:00 MSK
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TCS Group Holding PLC announces plans to invest in new fintech project in
Europe
Limassol, Cyprus - 06 February 2020. TCS Group Holding PLC (LI: TCS, MOEX:
TCSG) ("Tinkoff" or the "Company"), Russia's leading provider of online
financial and lifestyle services via its Tinkoff ecosystem, today announces
plans to invest in a new venture project to set up a fintech company
providing a range of services to retail customers in Europe (excluding CIS).
The startup will offer non-credit financial products.
The project is due to launch in 2020, with the Company as its key seed
investor. The Company will have a controlling interest in the new venture.
The Company's initial commitment is up to Euro 25 million and will be
contributed in tranches as the venture develops.
To focus on the new project, Artem Yamanov, Senior Vice President and
Business Development Director, Tinkoff Bank, and Alexander Emeshev, Vice
President for New Products Development, Tinkoff Bank, will be winding down
the activities in their current roles at Tinkoff Bank. Both are founders of
the new venture and will be co-investors.
There will be changes in the Tinkoff Management Team as a result of the
launch of this venture. Stanislav Bliznyuk (formerly COO) has taken the role
of SVP, Head of Business Development from Artem Yamanov at Tinkoff. Pavel
Khristolyubov has joined Tinkoff Group in January 2020 as COO.
For enquiries:
Tinkoff Tinkoff
Artem Lebedev Larisa Chernysheva
PR Department IR Department
+ 7 495 648-10-00 (ext. 2202) + 7 495 648-10-00 (ext. 2312)
Alexandr Leonov Neri Tollardo
+ 7 495 648-10-00 (ext. 35738) +44 7741 078383
pr@tinkoff.ru ir@tinkoff.ru [1]
TCS Group Holding PLC
TCS Group Holding PLC is an innovative provider of online retail financial
services. It includes Tinkoff Bank, mobile virtual network operator Tinkoff
Mobile, Tinkoff Insurance, management company Tinkoff Capital, Tinkoff
Software DC, a network of development hubs in major Russian cities, and
Tinkoff Education. The Group is currently developing Tinkoff ecosystem,
which offers financial and lifestyle services.
The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has
been listed on the London Stock Exchange and on the Moscow Exchange.
The Group's key business is Tinkoff Bank, a fully online bank that serves
over 10 mn customers and forms the core of the Tinkoff ecosystem.
Tinkoff Bank is the second largest player in the Russian credit card market,
with a share of 13.2%. The 9M 2019 IFRS net income of TCS Group Holding PLC
amounted to RUB 25.1 bn. The ROE was 59%.
With no branches, the Group serves all its customers remotely via online
channels and a cloud-based call centre. To ensure smooth delivery of the
Group's products, the Group has a proprietary nationwide network of
representatives.
In 2018, Global Finance named Tinkoff Bank the world's Best Consumer Digital
Bank, in 2019, 2018, 2016 and 2015, the Best Consumer Digital Bank in
Russia, and in 2019, the Best Consumer Digital Bank in Central and Eastern
Europe. In 2017 and 2013, the Banker recognised Tinkoff Bank as the Bank of
the Year in Russia. The bank's mobile app has consistently received top
industry ratings and awards (in 2013, 2014, 2015, 2016 by Deloitte and in
2018 by Global Finance).
ISIN: US87238U2033
Category Code: MSCH
TIDM: TCS
LEI Code: 549300XQRN9MR54V1W18
Sequence No.: 44960
EQS News ID: 969199
End of Announcement EQS News Service
1: mailto:ir@tcsbank.ru
(END) Dow Jones Newswires
February 06, 2020 04:00 ET (09:00 GMT)
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