TCS Group Acquires 7.5% Stake in St Petersburg Exchange

TCS Group, the operator of Russia’s largest online bank, Tinkoff, has entered into an agreement to buy a 7.5% stake in St Petersburg Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, which is the country’s major exchange for trading foreign stocks. According to the announcement, the exchange already had business deals with TCS Group through the Tinkoff-own Investments platform.

With the acquisition, the operator expects to expand its financial instruments’ portfolio ahead of an initial public offering (IPO), which is still in the plans and could materialise in 2022, Reuters said. Furthermore, both TCS and NP RTS, the major bourse’s shareholder, signed a memorandum of cooperation at the St Petersburg International Economic Forum.

The memorandum seeks that RTS sells the lender up to 7.5% of St Petersburg Exchange’s share capital.

Three weeks ago, TCS Group reported a record net profit in Q1 of 2021. Figures highlighted that it witnessed a surge in net profit of 57% year-on-year to RUB 14.2 billion over such a period. Also, the group’s revenue skyrocketed 21% to RUB 56.8 million between January and March 2021, bolstered by non-credit businesses.

In the same line, its number of customers grew to 14.8 million in the first quarter of the year from the 10.8 million reached last year. Moreover, the share of non-performing loans plummeted to 9.7% at the end of March 2021 from 10.3%, compared to the end of 2020.

TCS Group Expectations for the Rest of the Year

TCS Group’s forecasts are on the line to keep growing at the end of the year, stating that its full-year net profit could Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term RUB 55 billion, while non-credit businesses could account for over 40% of total revenues.

Founded in 2006, TCS Group Holding is a UK-listed provider of online retail financial services, operator of several companies such as Tinkoff Bank, Tinkoff Mobile, Tinkoff Insurance, Tinkoff Capital, Tinkoff Software DC and Tinkoff Education.