TINKOFF CREDIT SYSTEMS INTERIM REPORT FOR THE SECOND QUARTER 2008
Press release August 29, 2008Business growth has been strong throughout the first half of 2008. As of 30 June 2008 the Group total assets increased 166% comparing to the year-end and comprised USD 270,265 thousand. The credit card portfolio has grown from USD 26,752 thousand on 31 December 2007 to USD 98,728 thousand on 30 June 2008, an increase of 369%. New card issuance has been the main driver of portfolio growth, with total credit card issuance increasing from 48,000 on 31 December 2007 to 181,213 on 30 June 2008. Increasing issuance volumes have led to increased rates of card