Changes to the Board of Directors of Egidaco Investments PLC

The Board of Directors of Egidaco has changed due to the recent changes in its shareholding structure. 

Egidaco Investments PLC (“Tinkoff”), the parent company of ‘Tinkoff Credit Systems’ Bank (TCS Bank), announced that the following changes have been made to the Board of Directors:

Ms Maria Demetriou resigned and was replaced by Ms Mary Trimithiotou. 

Ms Laoura Michael was appointed as a director. 

Mr Michael Calvey was appointed as a director (as a representative of Baring Vostok).

The other members of the Board of Directors remain in their capacities.

After those appointments the Board of Directors consists of 7 members: Constantinos Economides, Alexis Ioannides, Mary Trimithiotou, Laoura Michael, Julian Salisbury, Per Brilioth and Michael Calvey.

Oliver Hughes

o.hughes@tcsbank.ru

7 (495) 6481000

Egidaco Investments PLC (www.eginvestments.net) is the sole shareholder of the Russian bank “Tinkoff Credit Systems”.

Bank «Tinkoff Credit Systems» is Russia's first bank, specialising in credit cards and online consumer lending. The bank was founded by  the renowned Russian entrepreneur, Oleg Tinkov. He was later joined by two financial investors, Goldman Sachs (in 2007) and Vostok Nafta (in 2008). In May 2012, Baring Vostok Private Equity Fund IV also became a shareholder. Based in Moscow, TCS Bank issues credit cards to customers in all of Russia's regions, including smaller, underserved cities. TCS operates a branchless model, attracting customers online and through direct mail, and servicing customers through its cutting edge Internet bank and call centre.  TCS’s credit card market share is almost 6% in 2012 with 2 million credit cards issued and over 1 billion dollars in assets.