Baring Vostok believes that financial services are likely to continue to be one of the region’s most rapidly growing sectors, as its banking sector matures and penetration of other financial products increases towards the levels of more developed economies. Since 1994, Baring Vostok funds have invested over $750 million in 11 banks and financial services companies in Russia and Kazakhstan.
Kaspi bank

Kaspi bank

One of the leading retail banks in Kazakhstan
Location:
Alma-Ata, Kazakhstan
Year of initial investments:
2006
Shareholding:
Controlling stake

Kaspi Bank is now the leading retail bank in Kazakhstan. It has the highest growth in retail deposits and loans, the highest number of credit cards issued, and the fastest growing network of branches. The bank is one of the leading companies in Kazakhstan for brand recognition among all industry sectors.

Kaspi Bank is one of the largest retail banks in Kazakhstan. Baring Vostok Private Equity Fund III purchased a controlling share of the Bank in 2006.

Development stages:

  • Mikhail Lomtadze, a partner of Baring Vostok, became CEO of the bank. The IT, finance, retail loan, risk assessment and marketing teams were strengthened.
  • A strategy for transforming the bank into a leading retail bank in Kazakhstan was developed, and over 100 projects were implemented to increase the bank’s efficiency and optimise its structure.
  • The bank, previously Bank Caspian, was rebranded as "Kaspi Bank", and new branch designs were developed.
  • In 2008, the IT and risk systems were centralised, enabling clients to be served much more quickly.
  • The retail product range was simplified and prioritised. In 2009, the bank launched a revolving credit card for the general public, and by 2014 had 3 mln customers.
  • The bank launched a project to open a new branch every three days, and now has 270 branches and 730 loan application points.

Other projects

News

14 March 2017

TCS Group Holding PLC Announces 4Q and FY 2016 IFRS Results.

TCS Group Holding PLC, Russia's leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces its audited IFRS results for the full year ended 31 December 2016, and a new dividend policy.
22 February 2017

Moody’s upgrades long-term debt and deposit ratings of Tinkoff Bank to B1 from B2.

TCS Group Holding PLC, Russia’s leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces that Moody’s upgraded Tinkoff Bank’s long-term local- and foreign-currency deposit ratings and local-currency senior unsecured debt ratings to B1 from B2, outlook — stable.
06 October 2016

Tinkoff Bank named biggest independent global direct bank.

TCS Group Holding PLC, Russia’s leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces that Tinkoff Bank has been named the largest independent global direct bank, according to a report by Frost & Sullivan, an international consulting firm.
03 October 2016

Tinkoff Bank launches Tinkoff Investments, a new service at Tinkoff.ru.

TCS Group Holding PLC announces that Tinkoff Bank has launched Tinkoff Investments, a new platform enabling customers to invest in securities online. This new service is being launched in partnership with BCS Broker as part of the Tinkoff.ru financial marketplace.