TCS Bank debut ECP offering

Egidaco Investments Plc, the 100% parent company of TCS Bank, is pleased to announce TCS Bank's debut ECP offering.

Tinkoff Credit Systems (TCS Bank) is a leading credit card company and a first online bank in Russia. 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 2012 Baring Vostok Private Equity Fund IV and Horizon Capital’s Emerging Europe Growth Fund II also became shareholders. 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 has issued almost 3 million credit cards of which approx. 2.2 million have been utilised by customers, giving it a 7.2% share of the Russian credit card market.