REG-TCS Group Holding PLC Tinkoff Group increases its stake in CloudPayments to 90%

TCS HoldingAnnouncement

22/05/2019 14:55

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   TCS Group Holding PLC (TCS)
   Tinkoff Group increases its stake in CloudPayments to 90%

   22-May-2019 / 16:52 MSK
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   Tinkoff Group increases its stake in CloudPayments to 90%

   Limassol, Cyprus - 22 May 2019. TCS Group Holding PLC (TCS LI) (the
   "Group"), an innovative provider of retail financial services via the
   Tinkoff.ru ecosystem, announces that Tinkoff Group acquired a 35% stake in
   CloudPayments, an online payment solutions developer. The agreement was
   signed on 22 May 2019.

   With the Group having acquired another stake of 55% in CloudPayments in
   October 2017, its total share in the developer is set to reach 90% upon
   the completion of this deal.

   This is the next logical step in Tinkoff's cooperation with CloudPayments,
   as it will ensure synergies in terms of business growth, strengthen
   CloudPayments' technological platform and expand the range of internet
   acquiring opportunities for the Tinkoff Business ecosystem. CloudPayments
   will remain a separate brand; the agreement does not entail any
   significant personnel or operational changes.

   Oliver Hughes, CEO of Tinkoff Bank, commented:

   "Since we first acquired a 55% stake in October 2017, CloudPayments has
   demonstrated solid results and consistent growth ahead of the market,
   fully living up to our expectations. The new deal is a logical and planned
   step forward to boost our cooperation. We value the CloudPayments brand
   and its unique team, which will continue working on company expansion. We
   are positive that closer ties will drive dynamic and steady growth in both
   companies."

   Dmitry Spiridonov, CEO and co-founder of CloudPayments, commented:

   "We highly appreciate our cooperation with Tinkoff over the last one and a
   half years: the Tinkoff team has been very helpful in sharing their
   expertise and contributing to process optimisation. Moreover, they allowed
   CloudPayments to continue operating as an independent brand, enabling us
   to remain highly agile and autonomous and promptly implement new solutions
   for the benefit of our customers. Deeper integration will strengthen our
   leadership on the internet acquiring market and further improve the
   quality of services provided to our partners."

   For enquiries:

    

   Tinkoff Bank

   Darya Ermolina
   PR Director

   + 7 495 648-10-00 (ex. 2009)

   d.ermolina 1 @tinkoff.ru

    

    

   About the Group

    

   TCS Group Holding PLC is an innovative provider of online retail financial
   services. It includes Tinkoff Bank, mobile virtual network operator
   Tinkoff Mobile, Tinkoff Insurance, and Tinkoff Software DC, a network of
   development hubs in major Russian cities. The Group also has Tinkoff.ru,
   an evolving ecosystem that offers financial and lifestyle services.

    

   The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has
   been listed on the London Stock Exchange since October 2013.

    

   The Group's key business is Tinkoff Bank, the country's first and only
   direct bank and the core of the Tinkoff.ru ecosystem.

    

   Tinkoff Bank is the second largest player in the Russian credit card
   market, with a share of 12.4% as of 1 April 2019. The 1Q'19 IFRS net
   income of TCS Group Holding PLC amounted to RUB 7.2 bn, ROE stands at
   64.4%.

    

   With no branches, the Group serves all its customers remotely via online
   channels and a cloud-based call centre staffed by over 10,000 employees,
   which makes it one of the largest in Europe. To ensure smooth delivery of
   the Group's products, the Group has a nationwide network of over 2,500
   representatives.

    

   In 2018 Global Finance named Tinkoff Bank the world's Best Consumer
   Digital Bank, in 2018, 2016 and 2015, the Best Consumer Digital Bank in
   Russia, and in 2017 and 2013 The Banker recognised it as the Bank of the
   Year in Russia. The bank's mobile app has been consistently praised by
   local and global independent experts as the best of its kind (in 2013,
   2014, 2015, 2016 by Deloitte and in 2018 by Global Finance).

    

   Forward-looking statements

   Some of the information in this announcement may contain projections or
   other forward-looking statements regarding future events or the future
   financial performance of the Group and Tinkoff Bank. You can identify
   forward looking statements by terms such as "expect", "believe",
   "anticipate", "estimate", "intend", "will", "could," "may" or "might", the
   negative of such terms or other similar expressions. The Group and Tinkoff
   Bank wish to caution you that these statements are only predictions and
   that actual events or results may differ materially. The Group and Tinkoff
   Bank do not intend to update these statements to reflect events and
   circumstances occurring after the date hereof or to reflect the occurrence
   of unanticipated events. Many factors could cause the actual results to
   differ materially from those contained in projections or forward-looking
   statements of the Group and Tinkoff Bank, including, among others, general
   economic conditions, the competitive environment, risks associated with
   operating in Russia, rapid technological and market change in the
   industries the Group operates in, as well as many other risks specifically
   related to the Group, Tinkoff Bank and their respective operations.

    

    

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   ISIN:          US87238U2033
   Category Code: MSCH
   TIDM:          TCS
   LEI Code:      549300XQRN9MR54V1W18
   Sequence No.:  8746
   EQS News ID:   814707


    
   End of Announcement EQS News Service

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References

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