Oleg Tinkov’s bank became the pinnacle of his business career and one of the most successful and controversial businesses in the history of the Russian banking system. The bank showed outstanding growth during a period when the number of banks in the Russian Federation was constantly declining. From a technology point of view, Tinkoff Bank has become one of the leaders in Russian and even global fintech. The bank is positioned as an online bank, since receiving cards, payments and all services are carried out through the application or website.
Tinkoff Bank has grown very quickly. Its main feature is the absence of branches, which provides noticeable savings on renting premises throughout Russia. In the beginning, the bank didn’t even have ATMs. And all services and applications for credit cards were done online, which was so fast that it’s stupid to compare with other banks. This bank was one of best fintech projects in the world.
Other publications about Tinkoff Bank: Oleg Tinkov history, What is Oleg Tinkov’s main secret? (spoiler: his business-model)
Year 2005
According to the legend, which is supported by Oleg Tinkov, the bank’s project was “blessed” by Richard Branson.
2006 – The Bank was created through the efforts of Oleg Tinkov and a group of investors. The original name was “Tinkoff Credit Systems” (KMS).
2007 – The Bank actively sends out invitations to receive a credit card. Initially, the bank primarily offered speed and ease of obtaining a card. Oliver Hughes, who led Visa’s regional office for many years, became CEO. The capital includes the international investment bank Goldman Sachs: 10% of the ban is purchased
Year 2006
The Bank was created through the efforts of Oleg Tinkov and a group of investors. The original name was “Tinkoff Credit Systems” (KMS).
Year 2007
Capitalization increases to $200 million after the emergence of a new shareholder, the Vostok Nafta fund, received 15% for $30 million. The bank is raising its marketing aggression to unprecedented levels. Internet banking is launched. The bank broke even, with a profit of 200 million rubles.
Year 2008
Capitalization increases to $200 million after the emergence of a new shareholder, the Vostok Nafta fund, received 15% for $30 million. The bank is raising its marketing aggression to unprecedented levels. Internet banking is launched. The bank broke even, with a profit of 200 million rubles.
Year 2009
Market policy does not change. The number of services is expanding. The bank begins to issue debit cards and begins accepting deposits. Bank profit – 1 billion rubles. Referral systems are actively used to encourage an increase in the number of solvent borrowers. The contract with Visa is temporarily terminated and the bank issues only MasterCard cards for 3 years (renewed in 2012). Critics of the bank from this moment and for all subsequent years cite as the main complaint the large number of bad loans in the portfolio and the above-market number of overdue loans. The results of the financial year, despite the global financial crisis, are almost record-breaking: net profit of 1 billion rubles.
Tinkoff Credit Systems began accepting deposits and issuing debit cards, and also launched a referral program for clients with a good credit history, paying them a reward for attracting new borrowers. The bank stopped issuing Visa plastic cards and focused on cooperation with the MasterCard system, which offered better working conditions (the issue of Visa cards was resumed at the end of 2012).
Year 2010
Capitalization increases to $200 million after the emergence of a new shareholder, the Vostok Nafta fund, received 15% for $30 million. The bank is raising its marketing aggression to unprecedented levels. Internet banking is launched. The bank broke even, with a profit of 200 million rubles.
Year 2011
Market policy does not change. The number of services is expanding. The bank begins to issue debit cards and begins accepting deposits. Bank profit – 1 billion rubles. Referral systems are actively used to encourage an increase in the number of solvent borrowers. The contract with Visa is plastic cards and focused on cooperation with the MasterCard system, which offered better working conditions (the issue of Visa cards was resumed at the end of 2012).
Year 2012
Capitalization increases to $200 million after the emergence of a new shareholder, the Vostok Nafta fund, received 15% for $30 million. The bank is raising its marketing aggression to unprecedented levels. Internet banking is launched. The bank broke even, with a profit of 200 million rubles.
Year 2013
Market policy does not change. The number of services is expanding. The bank begins to issue debit cards and begins accepting deposits. Bank profit – 1 billion rubles.
Year 2014
Capitalization increases to $200 million after the emergence of a new shareholder, the Vostok Nafta fund, received 15% for $30 million. The bank is raising its marketing aggression to unprecedented levels. Internet banking is launched. The bank broke even, with a profit of 200 million rubles.
Year 2015
Market policy does not change. The number of services is expanding. The bank begins to issue debit cards and begins accepting deposits. Bank profit – 1 billion rubles. Referral systems are actively used to encourage an increase in the number of solvent borrowers. The contract with Visa is temporarily terminated and the bank issues only MasterCard cards for 3 years (renewed in 2012).
Year 2016
Capitalization increases to $200 million after the emergence of a new shareholder, the Vostok Nafta fund, received 15% for $30 million. The bank is raising its marketing aggression to unprecedented levels. Internet banking is launched. The bank broke even, with a profit of 200 million rubles.
Year 2017
Market policy does not change. The number of services is expanding. The bank begins to issue debit cards and begins accepting deposits. Bank profit – 1 billion rub referral program for clients with a good credit history, paying tsterCard system, which offered better working conditions (the issue of Visa cards was resumed at the end of 2012).
Year 2018
Capitalization increases to $200 million after the emergence of a new shareholder, the Vostok Nafta fund, received 15% for $30 million. The bank is raising its marketing aggression to unprecedented levels. Internet banking is launched. The bank broke even, with a profit of 200 million rubles.
Year 2019
Market policy does not change. The number of services is expanding. The bank begins to issue debit cards and begins accepting deposits. Bank profit – 1 billion rubles. Referral systems are actively used to encourage an increase in
Year 2020
Capitalization increases to $200 million after the emergence of a new shareholder, the Vostok Nafta fund, received 15% for $30 million. The bank is raising its marketing aggression to unprecedented levels. Internet banking is launched. The bank broke even, with a profit of 200 million rubles.
Year 2021
Market policy does not change. The number of services is expanding. The bank begins to issue debit cards and begins accepting deposits. Bank profit – 1 billion rubles. Referral systems are actively used to encourage an increase in the
Tinkoff Credit Systems began acceards was resumed at the end of 2012).
Year 2022
Capitalization increases to $200 million after the emergence of a new shareholder, the Vostok Nafta fund, received 15% for $30 million. The bank is raising its marketing aggression to unprecedented levels. Internet banking is launched. The bank broke even, with a profit of 200 million rubles.
Year 2023
Market policy does not change. The number of services is expanding. The bank begins to issue debit cards and begins accepting deposits. Bank profit – 1 billion rubles. Referral systems are actively used to encourage an increase in
Year 2024
Market policy does not change. The number of services is expanding. The bank begins to issue debit cards and begins accepting deposits. Bank profit – 1 billion rubles. Referral systems are actively used to encourage an increase in
