Oleg Tinkov and Tinkoff Bank management donate RUB 100 m to MIPT Endowment Fund

Moscow, Russia — 17 January 2018.
Moscow Institute of Physics and Technology (MIPT), Oleg Tinkov and Tinkoff Bank managers announce the establishment of a RUB 100 m endowment fund to support artificial intelligence and machine learning research.

The fund has become the largest MIPT endowment, and is an open fund, which means that MIPT alumni joining Tinkoff Bank will be able to contribute to the fund at a later stage.

The endowment fund was initiated by Artem Yamanov and Evgeny Ivashkevich, MIPT graduates and currently top executives at Tinkoff Bank, and Oleg Tinkov, founder of Tinkoff Bank.

Oleg Tinkov, founder of Tinkoff Bank, said, «We believe that Russian technical professionals are the best in the world and we want this trend to continue. That is why we are ready to engage in close cooperation and share practical knowledge with universities. As part of this drive, in the first half of 2017, Tinkoff Bank opened a special Financial Technologies Department in the Phystech School of Applied Mathematics and Informatics at MIPT. Now, Tinkoff Bank employees have decided to make personal contributions to support their alma mater and set up a special fund as part of the existing MIPT endowment. I am happy to support initiatives like this one and ready to stay involved going forward.»

Artem Yamanov, Senior Vice President at Tinkoff Bank, said, «Hundreds of Tinkoff Bank employees, across junior and senior positions, are MIPT graduates and establishing a fund like this is a way to express gratitude to the university. We hope that our experience will inspire colleagues to support the initiative and the number of endowments in Russian universities will grow.»

Evgeny Ivashkevich, Vice President, Risk Director at Tinkoff Bank, said, «Artificial intelligence and machine learning will enable a quantum leap in client products and services, hence the massive interest we are already witnessing. We expect that the inflow of additional capital to Russia’s technical universities will help to raise up highly qualified professionals who will form the core of Russian business going forward.»

About the Group

TCS Group Holding PLC 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 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 1,800 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 October 2017, the bank was the second largest player in the Russian credit card market, with a market share of 11.6%. The 9M 2017 IFRS net income of TCS Group Holding PLC amounted to RUB 12.6 bn, ROE stood at 48.8%.

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.