Report
Andrew Keeley

TCS Group - Investor Day: Ecosystem Energy

Yesterday, TCS Group (Tinkoff) held an investor day in London. Founder Oleg Tinkov was joined by nearly a football team's worth of senior management for a dive into the group's strategic thinking. In terms of numbers, there was no new guidance, but the management shared some of the economics of the new businesses, which will help over time to gain a better understanding of these lines. What probably stood out most was the sense of innovation and creativity in the company's efforts to embed the Tinkoff platform and brand in customers' online lives (already 7 mln customers). While many banks talk about "ecosystems," Tinkoff clearly seems to be getting on with it. Key to this approach remains the test-and-learn model for new products, and we are left with the impression that areas such as SME, investments and mortgages are in good shape to keep driving the evolution of the business.
Underlying
TCS Group Holding Plc Sponsored GDR Class A RegS

TCS Group Holding is a retail banking services group based in the Russian Federation. Co. is principally engaged in providing retail banking services in the Russian Federation through its subsidiaries, primarily Tinkoff Credit Systems. Co., through this subsidiary, fully licensed by the Central Bank of Russia and a member of the Deposit Insurance System, specializes in credit cards. Co. provides online retail financial services through a branchless operating platform. Co. also offers remote access to its financial products and services through its online banking as well as through mobile banking and high-volume call centers.

Provider
Sberbank
Sberbank

​Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

Analysts
Andrew Keeley

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