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TCS Group Holding PLC / Product Launch
TCS Group Holding PLC: Tinkoff Bank to launch a mobile virtual network
operator
05-Apr-2017 / 10:42 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS,
LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Tinkoff Bank to launch a mobile virtual network operator
Moscow, Russia - 5 April 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 the launch
of its own mobile virtual network operator (MVNO).
The MVNO will use Tele2 Russia's network and infrastructure to provide
mobile services for both current Tinkoff's customers and others; and will
have its own network code, number range and SIM cards which will be
delivered across Russia via Tinkoff's smart courier network.
Oliver Hughes, CEO of Tinkoff Bank, said, 'We have recently been seeing
finance and telecoms increasingly converging with each other lately. The
launch of our own MVNO is a logical and timely addition to our range of
products and services. This is part of our strategy to build a
fully-fledged ecosystem based around our online platform Tinkoff.ru.
The MVNO will leverage the core strengths and expertise of both our
financial retail business and our best in class customer service to
deliver great value for both our current customers and future mobile
customers. It will significantly contribute to our value proposition. And
we will even further improve customer experience to retain customers and
build up our loyalty base. Furthermore, some cost synergies are expected
by reducing servicing expenses. This new business arm is set to make yet
another non-credit revenue pool for our business.'
George Chesakov, Tinkoff Bank VP, Head of MVNO project, said, 'Ten years
ago, we launched Tinkoff Bank, which successfully weathered the economic
downturn and tough competition to evolve into Russia's most
technology-intensive bank and the world's largest online only bank by
customer base. Today, we are about to launch an MVNO in an industry that's
even more competitive. And yet, just like ten years ago, we see a new
opportunity in the market to tap into. With our extensive expertise, we
are well-positioned to create a mobile network operator and make it
successful by keeping its customers happy.'
The date when the new mobile service will be available for customers will
be announced in due course.
For enquiries:
Tinkoff Bank
Darya Ermolina
Head of PR
+ 7 495 648-10-00 (ext. 2009)
1 d.ermolina@tinkoff.ru
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. The
Group has also developed a 'smart courier' network covering almost all
cities and towns in Russia which allows next day delivery to many
customers.
Tinkoff Bank's 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).
Tinkoff is transitioning to become an online financial marketplace,
Tinkoff.ru, which offers an entire range of both own brand and partner
retail financial services via mobile and desktop.
As at 1 March 2017, the bank was the second largest player in the Russian
credit card market, with a market share of 10.6%. The FY2016 IFRS net
income of the parent company, TCS Group Holding PLC, which includes
Tinkoff Bank and the insurance company Tinkoff Insurance, amounted to RUB
11 bn, ROE stood at 43%.
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.
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Language: English
Company: TCS Group Holding PLC
2nd Floor, Sotiri Tofini 4, Agios Athanasios
4102 Limassol
Cyprus
Phone: +7 495 648-10-00
Fax: +7 495 645-59-09
E-mail: media@tinkoff.ru
Internet: https://www.tinkoff.ru
ISIN: US87238U2033
Listed: Foreign Exchange(s) London, Moscow
Category Code: PRL
TIDM: TCS
LEI Code: 549300XQRN9MR54V1W18
Sequence No.: 4032
End of Announcement EquityStory.RS, LLC News Service
562109 05-Apr-2017
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References
Visible links
1. mailto:d.ermolina@tinkoff.ru
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