Tinkoff Bank
Native name | Тинькофф банк |
---|---|
Formerly called | Tinkoff Credit Systems |
Industry | Bank |
Founded | 2006 in Moscow, Russia |
Founder | Oleg Tinkov |
Headquarters | Moscow, Russia |
Owner | Oleg Tinkov |
Website |
www |
Tinkoff Bank (Russian: Тинькофф банк), formerly Tinkoff Credit Systems (Russian: Тинькофф Кредитные Системы) is a Russian commercial bank based in Moscow and founded by Oleg Tinkov in 2006.[1] The bank does not have branches or ATMs.[2] As of 2016, Tinkoff Bank has a credit rating of B+ on the Fitch Ratings and B2 on the Moody's Rating,[3][4] and is the second largest provider of credit cards in Russia.[5]
History
Entrepreneur Oleg Tinkov founded Tinkoff Credit Systems in 2006, after working with consultants from Boston Consulting Group to see if a bank without branches could work in Russia.[6][7][8] Tinkov invested around $70 million in the bank, and based the bank on the American Capital One bank; Tinkov took over the Khimmashbank corporate bank in Moscow.[9][10][2] In 2013, Tinkoff was listed on the London Stock Exchange, raising $1.1 billon,[11][6] and in the same year, the bank was named the Bank of the Year by the Financial Times' Banker magazine.[5]
In 2013, a Russian named Dmitry Agarkov attempted to sue the bank for 24 million rubles ($724,000); Agarkov had edited a 2008 credit card agreement with the bank, and his edits had been accepted by the bank. The legal action was later withdrawn.[12][13][14][15]
In 2015, the bank was officially renamed Tinkoff Bank,[16] and was also named the Best Internet Retail Bank in Russia by the Global Finance magazine.[5] In July 2016, Tinkoff Bank was part of Russia's first blockchain consortium, a private-sector coalition of banks, financial and professional services in Russia.[17]
Professional cycling
From 2006–2008, Tinkoff were the sponsors of the Tinkoff Credit Systems UCI Professional Continental cycling team. In June 2012, Tinkoff became the co-sponsors of the Team Saxo Bank, with the team being renamed Saxo Bank–Tinkoff Bank (later Saxo-Tinkoff and Tinkoff-Saxo).[18][19][20] For the 2016 cycling season, Tinkoff Bank became the sole sponsors of the cycling team.[21]
References
- ↑ "Русская сказка: офис мечты Олега Тинькова". Forbes (in Russian). 17 January 2014. Retrieved 22 July 2016.
- 1 2 "Case study: Tinkoff Credit Systems Bank – One of a kind". IBS Intelligence. 8 March 2013. Retrieved 22 July 2016.
- ↑ "Fitch Affirms 5 Russian Consumer Lenders; Revises Outlooks on 2 to Stable". Fitch Ratings. 18 November 2015. Retrieved 22 July 2016.
- ↑ "Рейтинг надежности банков — 2015". Forbes (in Russian). 25 March 2015. Retrieved 22 July 2016.
- 1 2 3 "Tinkoff Bank successfully completes RUB 3 bn bond offering with a coupon of 11.7%". The Daily Telegraph. 23 June 2016. Retrieved 23 June 2016.
- 1 2 O'Neill, Dominic (24 October 2013). "Tinkoff IPO beats consumer credit fears". Euromoney. Retrieved 22 July 2016.
- ↑ "Карты, деньги, 2 ярда". Kommersant (in Russian). 3 December 2013. Retrieved 22 July 2016.
- ↑ "Операция «Copy/Paste»: три примера на российском банковском рынке". Slon. 16 October 2012. Retrieved 22 July 2016.
- ↑ "Пионер года: почему все марки Олега Тинькова хорошо продаются". Forbes. 13 January 2014. Retrieved 22 July 2016.
- ↑ Weaver, Courtney (30 December 2015). "Lunch with the FT: Oleg Tinkov". Financial Times. Retrieved 22 July 2016.
- ↑ Weaver, Courtney (22 October 2013). "TCS raises $1.1bn in London IPO". Financial Times. Retrieved 22 July 2016.
- ↑ Taylor, Adam (8 August 2013). "Russian Man Who Got Bank To Sign Homemade Credit Card Contract Now Suing Them For Not Following Terms". Business Insider. Retrieved 22 July 2016.
- ↑ Trotman, Andrew (8 August 2013). "Man who created own credit card sues bank for not sticking to terms". The Daily Telegraph. Retrieved 22 July 2016.
- ↑ "$700k credit card trickster and Russia's largest on-line bank drop lawsuits". RT. 14 August 2013. Retrieved 22 July 2016.
- ↑ Lewis, Dan (October 2014). Now I Know More: The Revealing Stories Behind Even More of the World's Most Interesting Facts. F+W. pp. 160–161. Retrieved 22 July 2016.
- ↑ "TCS Bank to be renamed as Tinkoff Bank in 2015". Tinkoff Credit Systems. 24 December 2014. Retrieved 22 July 2016 – via London Stock Exchange.
- ↑ Das, Samburaj (6 July 2016). "Russian Banks Form Private Blockchain Consortium". Crypto Coins News. Retrieved 22 July 2016.
- ↑ Atkins, Ben (25 June 2012). "Tinkoff returns to cycling as Team Saxo Bank co-sponsor through 2013". Velo Nation. Retrieved 22 July 2016.
- ↑ Westemeyer, Susan (25 June 2012). "Tinkoff Bank announced as co-sponsor to Saxo Bank". Cyclingnews.com. Retrieved 22 July 2016.
- ↑ Rosen, Daniel M. (2008). Dope: A History of Performance Enhancement in Sports from the Nineteenth Century to Today. ABC-CLIO. p. 154. Retrieved 22 July 2016.
- ↑ "Saxo Bank ends sponsorship of Tinkoff team". Cyclingnews.com. 15 October 2015. Retrieved 22 July 2016.