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TCS Group Holding PLC notification

Released 08:32 02-Mar-2020

TCS Group Holding PLC (TCS)
TCS Group Holding PLC notification

02-March-2020 / 11:32 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

TCS Group Holding PLC notification

Moscow, Russia - 02 March 2020. Further to its statement on 27 February, TCSGH has been informed of further details of court hearings, involving the Group's founder, Mr. Oleg Tinkov.

The hearings, now underway in London, are in response to allegations of under-reporting of tax by the U.S. Internal Revenue Service with respect to Mr Tinkov.
Mr Tinkov is expected to remain in London for the duration of these proceedings, having been granted bail after a warrant for his detention was issued. Mr Tinkov has informed us that his legal team is working to resolve this issue as soon as possible.

Mr Tinkov is attending these court hearings in his capacity as a private individual - this situation does not impact any of the operating companies in Tinkoff Group (including Tinkoff Bank, Tinkoff Insurance and Tinkoff Mobile).


Furthermore, this situation does not affect the functioning of either the TCSGH Board of Directors or the Management Board of Tinkoff Bank. Mr Tinkov is not a member of either of these Boards. All day-to-day operational decisions are taken at the Management Board levels of the Bank and other Operating Companies in the Group.


For enquiries:


Artem Lebedev
PR Department

+ 7 495 648-10-00 (ext. 2202)

Alexandr Leonov

+ 7 495 648-10-00 (ext. 35738)


Larisa Chernysheva
IR Department

+ 7 495 648-10-00 (ext. 2312)

Neri Tollardo

+44 7741 078383


TCS Group Holding PLC

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, management company Tinkoff Capital, Tinkoff Software DC, a network of development hubs in major Russian cities, and Tinkoff Education. The Group is currently developing Tinkoff ecosystem, which 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 and on the Moscow Exchange.

The Group's key business is Tinkoff Bank, a fully online bank that serves over 10 mn customers and forms the core of the Tinkoff ecosystem.

Tinkoff Bank is the second largest player in the Russian credit card market, with a share of 13.2%. The 9M 2019 IFRS net income of TCS Group Holding PLC amounted to RUB 25.1 bn. The ROE was 59%.

With no branches, the Group serves all its customers remotely via online channels and a cloud-based call centre. To ensure smooth delivery of the Group's products, the Group has a proprietary nationwide network of representatives.

In 2018, Global Finance named Tinkoff Bank the world's Best Consumer Digital Bank, in 2019, 2018, 2016 and 2015, the Best Consumer Digital Bank in Russia, and in 2019, the Best Consumer Digital Bank in Central and Eastern Europe. In 2017 and 2013, the Banker recognised Tinkoff Bank as the Bank of the Year in Russia. The bank's mobile app has consistently received top industry ratings and awards (in 2013, 2014, 2015, 2016 by Deloitte and in 2018 by Global Finance).



ISIN: US87238U2033
Category Code: MSCM
LEI Code: 549300XQRN9MR54V1W18
Sequence No.: 49793
EQS News ID: 987083

End of Announcement EQS News Service


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TCS Group Holding PLC notification - RNS