Tinkoff: The Neobank of Russia

SME Fintech Opportunity in the Developing Countries

Tinkoff: The Neobank of Russia by Sam Ghosh 9th March 2021
Tinkoff - Products and Channels Tinkoff - Growth Tinkoff - Finances
Tinkoff - The Company

Tinkoff - The Company Tinkoff - Products and Channels Tinkoff - Growth Tinkoff - Finances
Founding 2006 in Moscow, Russia
Valuation (Listed) US$9.99 billion as of 10th March, 2021
Business Banking, Wealth Management, Insurance, Booking Services, Telecom Service...
Total Funds Raised Tinkoff Bank: US$90 million, Tinkoff Digital: US$20 million
Customers 12.1 million customers as of September 2020
Revenue RUB 165 billion in FY 2019 (US$2.23 billion @RUB1=US$0.014)
Investors Goldman Sachs, Horizon Capital, Baring Vostok Capital Partners, and Oleg Tinkov

Tinkoff - The Company: Founder
Oleg Tinkov
Tinkoff Restaurants chain, Tinkoff Beer, Daria
University of California, Berkeley, Leningrad Mining Institute

Tinkoff - The Company: Corporate Structure
TCS Group Holding PLC
(Incorporated in Cyprus)
Tinkoff Bank JSC
Tinkoff Insurance
JSC
Tinkoff Mobile LLC Tinkoff Capital LLC

Tinkoff - The Company: Leadership
Oliver Hughes
CEO, Chairman of the Management Board of Tinkoff Bank
Stanislav Bliznyuk
Chairman of the Board of Directors
Ilya Pisemsky
Chief Financial Officer, Deputy
Chairman of the Management Board
Sergei Pirogov
Head of Corporate Finance, Member
of the Board of Directors
Evgeny Ivashkevich
Risk Director, Deputy Chairman of
the Management Board
Viacheslav Tsyganov
Chief Information Officer, Vice
President, Deputy Chairman of the
Management Board
Pavel Khristolyubov
Chief Operating Officer
Valeria Pavlyukova
Chief Legal Officer, Deputy
Chairman of the Management Board
Natalia Izyumova
Chief Accountant, Member of the
Management Board
Board Members
Constantinos Economides Chairman of the Board of Directors
Maria Trimitiothou Member of the Board of Directors
Martin Cocker Member of the Board of Directors, Independent Non-Executive Director, Chairman of the Audit Committee,
Member of the Remuneration Committee
Jacques der Megreditchian Member of the Board of Directors, Independent Non-Executive Director, Chairman of the Remuneration Committee,
Member of the Audit Committee
Alexios Ionnides Member of the Board of Directors

Tinkoff - Products and Channels

Tinkoff - Products and Channels: Products
Products
For Consumers For Larger Businesses
For Small Businesses
Retail Banking
Investment Services
Telecom Services
Insurance
Memberships
Business Banking and
Credit
Merchant Payment
Acquiring
Accounting Related
Products and Services
Deposits
Business Registration
Business Banking and
Credit
Merchant Payment
Acquiring
Salary and Freelancer
Payments
Foreign Currency Accounts
Deposits
Booking Services Sales Services and
Consumer Financing

Tinkoff - Products and Channels: Products: For Consumers: Retail Banking: Credit: Credit Cards
Tinkoff has an array of Credit Cards targeting different customer bases and different use cases - air travelers, gamers, collectors, etc.
Tinkoff also partnered with various companies such as Yandex, Maxim, Google Play, LUKOIL, etc., and offer cashback and other rewards.

Tinkoff - Products and Channels: Products: For Consumers: Retail Banking: Credit: Loans
Tinkoff offers Cash Loans, refinancing of existing loans, and car loans.

Tinkoff - Products and Channels: Products: For Consumers: Retail Banking: Debit Cards
Similar to credit cards, Tinkoff has debit cards for various target markets - children, air travelers, gamers, etc.
Tinkoff also partnered with companies such as Yandex, Avon, Azbuka Vkusa for various rewards.

Tinkoff - Products and Channels: Products: For Consumers: Retail Banking: Deposits
Tinkoff offers multi-currency deposit services - Roubles, Dollars, Euros, and Pound Sterlings. Interest can be accessed through the debit cards.

Tinkoff - Products and Channels: Products: For Consumers: Investment Services
Tinkoff offers brokerage, advisory services, Individual Investment Accounts, etc. services.

Tinkoff - Products and Channels: Products: For Consumers: Insurance
Tinkoff offers various insurance policies including auto insurance, travel insurance, health insurance, etc.

Tinkoff - Products and Channels: Products: For Consumers: Pro Subscription and Premium
Tinkoff Pro-Subscription is a membership program. Members get special benefits such as free transfers to other bank cards, increased rewards, higher
interest rates on savings, cash backs, etc.
Premium is another membership program with benefits such as personalized services, higher interest rates on deposits, access to global financial
markets, better rates on currency exchanges, etc.

Tinkoff - Products and Channels: Products: For Consumers: Telecom Services
Tinkoff Mobile offers physical SIM or eSIM cards. The connection can be managed through the Tinkoff Mobile app. The connection comes with interesting
features such as a virtual number, changeable network name, etc.

Tinkoff - Products and Channels: Products: For Consumers: Booking Services
Tinkoff also offers booking services for flights, hotels, train tickets, car rental, etc.

Tinkoff - Products and Channels: Products: For Small Businesses: Business Banking
Tinkoff offers checking account with overdraft facilities. The account can be managed using mobile.

Tinkoff - Products and Channels: Products: For Small Businesses: Business Loans
Secured (by real estate) and unsecured credit for proprietorships and LLCs.

Tinkoff - Products and Channels: Products: For Small Businesses: Payment Acquiring
Tinkoff offers Point-of-sale and internet payment acquiring services.

Tinkoff - Products and Channels: Products: For Small Businesses: Accounting
Tinkoff offers accounting software, invoicing software, and accounting services, etc.

Tinkoff - Products and Channels: Products: For Small Businesses: Deposits
Deposits: from 2 days to 2 years
Overnight Deposits: One-night deposits.

Tinkoff - Products and Channels: Products: For Small Businesses: Business Registration
Tinkoff offers a free business registration for opening of business accounts. They also offer bonuses for advertising spending.

Tinkoff - Products and Channels: Products: For Small Businesses: Sales Services
Website builder, advertising management, cloud call centre, and customer targeting in Tinkoff apps.

Tinkoff - Products and Channels: Products: For Small Businesses: Consumer Financing
Tinkoff offers consumer financing to the businesses i.e. businesses can extend loans to their buyers. Financing is offered for both online and
brick-and-mortar stores.

Tinkoff - Products and Channels: Products: For Small Businesses: Government Procurement Services
Tinkoff offers public procurement services (i.e help small businesses in accessing tendering process).

Tinkoff - Products and Channels: Products: For Larger Businesses: Business Banking
Customized solutions for larger companies. Current Account with API-based business process automations, personalized solutions and mobile banking.

Tinkoff - Products and Channels: Products: For Larger Businesses: Business Loans
Regular loans, credit line, and overdraft facilities.

Tinkoff - Products and Channels: Products: For Larger Businesses: Payment Acquiring
Point of Sale payment systems.

Tinkoff - Products and Channels: Products: For Larger Businesses: Payment to Employees
Salary and Freelancer payments. Salary payments using APIs and no need for an account. Also, salary payments can be automated.

Tinkoff - Products and Channels: Products: For Larger Businesses: Deposits
Deposits: from 2 days to 2 years
Overnight Deposits: One-night deposits.

Tinkoff - Products and Channels: Products: For Larger Businesses: Foreign Currency Account
Any number of accounts in dollars, euros, pounds, and yuan without any charges.

Tinkoff - Products and Channels: Products: Online Payment Acceptance
This is an all-in-one online payment acceptance solution. Payment can be accepted through websites, mobile applications, social networks, message
applications, etc.

Tinkoff - Products and Channels: Channels: Tinkoff.ru
Monthly Visits 27.6 million in Feb’21. (93% from Russia)
Engagement Avg. visit 5:40 minutes, 6.13 pages per visit.

Tinkoff - Products and Channels: Channels : Mobile Apps
Tinkoff
Google Play + App Store
Tinkoff Investments
Tinkoff Mobile
Tinkoff Business - Online
Bank for individual
entrepreneurs and LLC

Tinkoff - Products and Channels: Channels: Mobile Apps...
Tinkoff Junior
Card 2 Card
Tinkoff Play
Google Play
Tinkoff Accounting

Tinkoff - Growth

Tinkoff - Growth: Customer Acquisition
Total Customers 12.1 million as of September 2020

Tinkoff - Growth: Loan Book

Tinkoff - Growth: Loans by Type

Tinkoff - Growth: Customer Deposits

Tinkoff - Finances

Tinkoff - Finances: Finances (2019)
The primary revenue source for Tinkoff is interest income on various
credit products, followed by fee/commission and insurance premiums.
Tinkoff earns various fee and commissions from SMEs, payment
acquiring services, debit and credit cards, etc
In the year 2019, Tinkoff earned 86,769 million Russian Roubles (US$1.17
billion @1RUB = US$0.014) in net interest margin. Fee and Commission income
stood at 36,042 million Russian roubles (US$0.49 billion @1RUB = US$0.014).
Profit for the year stood at 36,123 million Russian roubles (US$0.49 billion
@1RUB = US$0.014).

Thank You
Disclaimer:
Some of the images used in this document are property of TCS
Group Holding PLC and used under the Fair Use doctrine.
Data provided and used here are from publicly available
sources. The author does not guarantee the accuracy of the
information mentioned in this document.
This document is not an investment prospectus and does not
constitute in any way advice for investment-related decisions.

Tinkoff: The Neobank of Russia

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