Moscow, Russia — 19 May 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 that the Analytical Credit Rating Agency (ACRA) (Russia) has awarded Tinkoff Bank an, А(RU) rating with a stable outlook.

Oliver Hughes, Chairman of Tinkoff Bank’s Management Board, said, «We would like to take this opportunity to thank ACRA’s team for their valuable work and profound analytical insights. We are pleased with the results and believe that the assigned rating accurately reflects the Bank’s financial position. Thanks to our flexible and robust business model and strong financial results, Tinkoff Bank’s core business is growing at a record pace, and we expect to sustain this growth going forward.»

ACRA’s research focuses on the Bank’s business and risk profiles, capital adequacy, liquidity and funding positions.

ACRA highly rates the quality of the Bank’s governance system noting Tinkoff’s unique business model as one of the success factors ensuring prompt implementation of best corporate governance practices and effective management of business processes at all levels.

The agency also cites Tinkoff Bank’s strong capital adequacy.

According to its estimates, the Bank’s NPL level (taking into account write-offs and sales) is in line with or even slightly better than that of its peers specialising in unsecured consumer lending.

In terms of liquidity and funding, the Bank has an adequate position backed by a stable short-term liquidity surplus and independence from the regulatory funding.

In its rating press release, ACRA assesses the Bank’s creditworthiness as moderately high compared to other Russian credit organisations.

ACRA’s rating press release is available at https://www.acra-ratings.com/about/news/138.