TCS Bank to be renamed as Tinkoff Bank in 2015

TCS Group Holding PLC

TCS Bank to be renamed as Tinkoff Bank in 2015

Moscow, Russia, 24 December 2014 - TCS Group Holding PLC (TCS LI) (the "Group"), including "Tinkoff Credit Systems" Bank ("TCS Bank") and Tinkoff Online Insurance, announces that TCS Bank will change its name to Joint Stock Company Tinkoff Bank ("JSC Tinkoff Bank" or "Tinkoff Bank") in 2015.

Following the name change, TCS Bank will remain committed to its current obligations to its clients and partners.

Beginning 2015, TCS Bank's website will be updated to reflect the new name and all visitors to www.tcsbank.ru will be redirected to the new website at www.tinkoff.ru .

Oliver Hughes, CEO of TCS Bank, commented: "The new name, Tinkoff Bank, reflects a natural evolution as we continue to grow our offering in the Russian retail financial services market, providing the full range of online financial products. Having started in online consumer lending, which remains our core product, we are now successfully expanding into debit and pre-paid card segments, as well as offering online retail deposits, payroll programmes and mobile payment solutions."

The decision to change the name of TCS Bank was made by TCS Group Holding PLC, its sole shareholder, on 25 November 2014, following the approval of the new name by the Central Bank of Russia in October 2014.

The Group is also planning to change the name of its insurance company Tinkoff Online Insurance to Tinkoff Insurance in due course to ensure visual and verbal alignment of the Group's brands.

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About the Group

TCS Group Holding PLC is an innovative provider of online retail financial services operating in Russia through a high-tech branchless platform. In order to support its branchless platform, the Group has also developed a "smart courier" network covering almost 600 cities and towns in Russia which allows next day delivery to many customers.

Since its launch in 2007 by Mr Oleg Tinkov, a renowned Russian entrepreneur with a long track record of creating successful businesses, the Group has grown into a leader in the Russian credit card market with a market share of 6.7% based on non-delinquent receivables (according to Central Bank of Russia (CBR) data, as of 1 October 2014). As of 1 November 2014, the Group has issued over 4.8 mln credit cards.

In addition to a market-leading credit card offering, the Group has developed a successful online retail deposits programme. The Group's other innovative lines of business include Tinkoff Online Insurance, which enables the Group to underwrite and sell its own innovative online insurance products, and Tinkoff Mobile Wallet, mobile payment solutions and financial services for Russian consumers.

As of 30 September 2014, the Group's total assets amounted to RUB 96.5 bn, net loans and advances to customers stood at RUB 74.7 bn and customer accounts (deposits) amounted to RUB 41.3 bn. In 9M 2014, the Group generated a net profit of RUB 2.8 bn and net interest income of RUB 23.1 bn.

The Group is well capitalised with the total capital ratio and Tier 1 capital ratio of 26.6% and 21.2%, respectively, in accordance with Basel III methodology.

Forward-looking statements

Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Group and TCS Bank. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might", the negative of such terms or other similar expressions. The Group and TCS Bank wish to caution you that these statements are only predictions and that actual events or results may differ materially. The Group and TCS Bank do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Group and TCS Bank, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries the Group operates in, as well as many other risks specifically related to the Group, TCS Bank and their respective operations.