Tinkoff Bank Tops The Banker’s Ranking of Most Profitable CEE Banks
Tinkoff Bank was named the most profitable bank in Central and Eastern Europe (CEE) by The Banker, a leading international financial publication which is part of the Financial Times Group.
According to The Banker’s Top 1000 World Banks 2017 (ranking of banks by capital), Tinkoff Bank led the charge of the most profitable banks in the CEE region with a return on assets (ROA) of 8.3%. The Bank also made it to the global Top 25 by the increase in Tier 1 capital, which grew by a whopping 54.58%.
Oliver Hughes, CEO of Tinkoff, said, «The Banker ranking confirms that Tinkoff Bank is an acknowledged leader offering new approaches to the provision of high-quality and affordable financial services. Despite the significant challenges facing the Russian banking sector over the past three years, Tinkoff remained profitable throughout the crisis and has emerged as one of the leading retail financial players thanks to its flexible branchless model. We have increased market share in our core credit card business, whilst also launching a number of new businesses that have become a driver for significant fee and commission revenue growth. We expect to see our non-credit businesses account for up to 30% of the Group’s net profit by the end of 2019. With a return on equity at 43%, we are one of the most profitable banks in Russia and globally.»
The Banker publishes the annual Top 1000 World Banks ranking, with Tier 1 capital as a key criterion.
2014 was the first year when Tinkoff Bank made it to the Top 1000 World Banks. Back then, its leadership was acknowledged in a variety of categories: Tinkoff was named the most profitable bank in Russia and ranked 1st in Russia and CEE by the increase in Tier 1 capital. In 2013, The Banker magazine named Tinkoff Bank the Bank of the Year in Russia. In 2014, The Banker bestowed its «Technology Projects of the Year» Award for Customer Service on the Tinkoff Credit Systems Bank for its call centre real-time voice authentication system.