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On-line bank Tinkoff Credit Systems is estimated $625 million
26.08.2012 16:26
On-line bank Tinkoff Credit Systems is estimated $625 million

On-line bank ZAO Tinkoff Credit Systems is estimated $625 million by investors. The cost of the business has increased seven times for less than five years.


In May 2012 the bank Tinkoff Credit Systems has announced that Baring Vostok Private Equity Fund IV would become its shareholder, investing $ 50 million. According to Forbes, the investment fund has got 542.2 thousand shares of Egidaco Investments (the main shareholder of bank ZAO Tinkoff Credit Systems, registered in Cyprus) or 8% of the capital. So the bank was estimated $ 625 million. The Cyprus Company has issued 406.6 thousand shares for the deal. Mr. Tinkoff has sold 135.5 his own shares, getting $12.5 million.


The bank, established in 2006, has increased in cost 6.6 times. Goldman Sachs has become the first investor of the bank in October 2007. It acquired 10% for $9.5 million (the cost of the total business was $68 million). The investment company Vostok Nafta Investment Limited bought 15% of the bank in May 2008 for $ 30 million (the cost of the business equaled $ 200 million).


Oleg Tinkoff remains the major shareholder of Egidaco Investments and Tinkoff Credit Systems. He owns 64.3% shares, which cost $400 million.





Author: Irina Fomina

Tags: Banks of Russia Russian banks    

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