Tinkoff Bank has been added to the Bank of Russia’s list of 13 systemically important lenders.
The decision was based on a large number of factors, including Tinkoff’s strong business growth as well as its extensive customer base, the Bank of Russia said in a statement.
As of today, the Bank of Russia considers 13 banking institutions to be systemically important; they account for about 77% of the Russian banking sector’s total assets.
Oliver Hughes, CEO of Tinkoff Group, said:
«The addition of Tinkoff Bank to the Bank of Russia’s list of systemically important lenders is, without doubt, an indication of Tinkoff’s quality and recognition of its role in the country’s financial system; it’s a result of our business development and of our growing number of customers. Tinkoff complies with all regulatory requirements set by the Bank of Russia for systemically important banking institutions and will continue its strategy to develop its business and expand its customer base.
«In recent years,
«Tinkoff is also the world’s first neobank to be named a systemically important company. This is a fantastic story of success and of the painstaking efforts we have made over the past decade and a half: today, it’s hard to imagine that, at the start, when we were launching Tinkoff 15 years ago, we were ranked 822nd on the list of banks in Russia. Now we are among the 13 largest and most reliable banks in the country.
«I would like to thank all our customers for recommending Tinkoff to their friends, and, of course, our entire team as well.»