The Central Bank has Included Tinkoff Bank in the List of Systemically Important Banks
The Central Bank explained the inclusion of Tinkoff Bank in the list by a number of factors. Among other things, the regulator noted the extensive customer base of Tinkoff Bank, as well as the fact that its growth indicators significantly exceed the average market values. Thus, now the list of systemically important banks includes 13, whose share is 77 percent of the assets of the entire Russian banking sector.
In early October, the founder of TCS Group (the parent company of Tinkoff Bank) Oleg Tinkov settled a dispute with the US Tax Service. The businessman pleaded guilty to tax violations and agreed to pay compensation in the amount of $ 506 million.
At the end of August, Tinkoff Bank announced a record profit and the launch of its own mortgage. The bank's revenue increased by 37 percent, to 65 billion rubles, profit increased by 19 percent, to 62.3 billion rubles, and profit before tax — by 55 percent, to 38.4 billion.
The total number of customers increased to 16.7 million. The company also plans to show a profit of 60 billion rubles this year (the previous forecast for the year was 55 billion rubles).
The value of TCS Group broke the historical maximum, exceeding $ 20 billion, and Oleg Tinkov got rich by almost $ 178 million in a day.