Egidaco Investments PLC IFRS financial statements for the 1st half-year 2012

Egidaco Investments PLC, the parent company of ‘Tinkoff Credit Systems’ Bank (TCS Bank), announced the financial results for the first 6 months 2012.

Egidaco Investments PLC is pleased to announce the publication of its financial statements for the 6 months 2012. 

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.