REG-TCS Group Holding PLC TCS Group Holding PLC: AHML and Tinkoff Bank create e-platform for mortgage loans <Origin Href="QuoteRef">TCSq.L</Origin>

TCS HoldingAnnouncement

31/01/2018 16:30

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   TCS Group Holding PLC (TCS)
   TCS Group Holding PLC: AHML and Tinkoff Bank create e-platform for
   mortgage loans

   31-Jan-2018 / 17:28 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   AHML and Tinkoff Bank create e-platform for mortgage loans

    

   Moscow, Russia - 31 January 2018. The Agency for Housing Mortgage Lending
   ("AHML") and Tinkoff Bank have signed an agreement to set up a joint
   venture to offer mortgage lending on a special electronic platform. The
   agreement was signed by Alexander Plutnik, CEO of AHML, and Oleg Tinkov,
   Chairman of the Board of Directors of Tinkoff Bank.

    

   The platform was designed to enable online acquisition of mortgage
   customers using Tinkoff Bank's technology platform. It will support
   automated mortgage approvals based on AHML standards, execute loan
   documentation and issue mortgage loans, enable online registration of
   property transactions with the Federal Service for State Registration,
   Cadastre and Cartography, and can be integrated with the systems of other
   Russian mortgage lenders.

    

   This online mortgage lending platform will also enable borrowers to
   service mortgage loans, including making monthly payments. Customers will
   be able to request bank statements and other mortgage documents, including
   insurance contacts, and seek mortgage servicing advice.

    

   In this joint effort, AHML will focus on creating mortgage products,
   underwriting, online registration of property transactions and loan
   origination by the agency's bank. Tinkoff Bank, in turn, will be
   responsible for setting up the platform, promoting the service and
   providing 24/7 customer support.

    

   "An increasing number of Russians are looking to use mortgage loans to buy
   a home. We need to put in place an up-to-date solution to make this
   process as user-friendly and easy-to-use as possible. Tinkoff Bank is a
   fintech leader with an extensive track record in developing innovative
   online services. Together, we will build a platform to propel mortgage
   origination in Russia to a whole new level," commented Alexander Plutnik.

    

   "We are delighted to combine AHML's e-transaction experience and Tinkoff
   Bank's customer acquisition expertise to harness this synergy and bring a
   new, promising mortgage player to the Russian market. This is a huge step
   forward for Tinkoff Bank. While in the past Tinkoff Mortgage served as a
   platform to partner with banks for a better customer experience, we will
   now be able to make a difference across the entire mortgage origination
   process," said Oleg Tinkov.

    

   For enquiries:
   Tinkoff Bank                  Tinkoff Bank

   Darya Ermolina                Larisa Chernysheva
   Head of PR
                                 IR Department
   + 7 495 648-10-00 (ext. 2009)
                                 + 7 495 648-10-00 (ext. 2312)
    1 d.ermolina@tinkoff.ru
                                  2 ir@tinkoff.ru
    
                                  

    

    

   About Tinkoff Bank

   Tinkoff is Russia's first and only direct bank with over 5 mln customers.
   The bank was founded in 2006 by the Russian entrepreneur Oleg Tinkov.

   TCS Group Holding PLC, the bank's holding company, has been listed on the
   London Stock Exchange since October 2013. In addition to the bank the
   Group includes mobile virtual operator Tinkoff Mobile, Tinkoff Insurance,
   and Tinkoff Software DC, a network of development hubs across Russia.

   With no retail branches, the bank 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 bank offers 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 August 2017, the bank was the second largest player in the Russian
   credit card market, with a market share of 11.5%. The 1H 2017 IFRS net
   income of TCS Group Holding PLC amounted to RUB 7.6 bn, ROE stood at 46%.

   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 2016 and 2015, 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. In 2016, Tinkoff Bank was named the
   Best Digital Bank in the CEE by Euromoney. Its mobile application was
   recognised as the best in Russia by Markswebb Rank & Report in 2014, 2015
   and 2016, and by Deloitte for four years in a row in 2013-2016.

   Tinkoff Bank is a member of the deposit insurance system (the system
   guarantees each depositor of member banks a payout of RUB 1.4 mln on
   deposits and current accounts, including interest income).

    

    

    

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   ISIN:          US87238U2033
   Category Code: MSCM
   TIDM:          TCS
   LEI Code:      2534000KL0PLD6KG7T76
   Sequence No.:  5172


    
   End of Announcement EQS News Service

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   650299  31-Jan-2018 

    3 fncls.ssp?fn=show_t_gif&application_id=650299&application_name=news&site_id=reuters6

References

   Visible links
   1. mailto:d.ermolina@tinkoff.ru
   2. mailto:ir@tcsbank.ru


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