Tinkoff Bank named as the Most Efficient Russian Bank
Tinkoff Bank has been named as the Most Efficient Russian Bank according to the new rankings of Kommersant-Bank looking at the performance of Russian banking institutions in 2017.
The rankings only covered top 100 banks by assets as at 1 January 2018. Tinkoff Bank leads the list with the best profit to average assets* ratio of 7.8% in 2017. Top 10 also includes Home Credit and Finance Bank (5.1%), Renaissance Credit (4.8%), RN Bank (4.6%), Deutsche Bank (3.3%), Citibank (3,2%), Post Bank (3.2%), Sberbank (3.0%), Raiffeisen Bank (2.9%) and Express-Volga (2.9%).
Tinkoff Bank is also the runner-up in Kommersant’s list of the most profitable banks, with the profit to average capital** ratio of 52.2% in 2017. The winner is Express-Volga, Kostroma, with 59.3%.
In 2017, TCS Group Holding PLC, a leading online provider of retail financial services in Russia (Tinkoff.ru), recorded a striking 73% increase in net income to RUB 19.0 bn and ROE to 52.8%.
*The average assets mean the arithmetic average of assets as at 1 January 2017 and as at 1 January 2018.
**The average capital means the arithmetic average of equity (capital) as at 1 January 2017 and as at 1 January 2018.