Moscow, Russia — 22 February 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 Moody’s upgraded Tinkoff Bank’s (Tinkoff)
In its announcement on the rating action, Moody’s highlighted Tinkoff Bank’s proven robust financial performance through the credit cycle in 2014–2016 owing to the resilience of its branchless business model, and material improvements in the bank’s profitability in recent quarters.
The Moody’s Investors Service press release announcing the rating action is available at https://www.moodys.com/research/Moodys-upgrades-long-term-debt-and-deposit-ratings-
TCS Group Holding PLC is an innovative provider of online retail financial services operating in Russia through a
Tinkoff Bank’s product range includes credit, debit and prepaid cards, deposits,
As per its
As at 1 September 2016, the bank was the second largest player in the Russian credit card market, with a market share of 9.7%. The Group’s 1H 2016 IFRS net income amounted to RUB 4.4 bn.
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.