Sberbank becomes credit card portfolio leader for first time - TCS
MOSCOW. Dec 26 (Interfax) - Sberbank has achieved the largest share of Russia's credit card market for the first time, an analytical review by Tinkoff Credit Systems shows.
As of December 1 2011, the Sberbank credit card portfolio stood at 61 billion rubles, 1 billion rubles more than Russian Standard Bank , which was second on the list and previously the unchallenged leader on the credit card market.
VTB Bank was third on the list (35.4 billion rubles), TCS Bank was fourth (19.2 billion rubles), and OTP Bank was fifth (18.4 billion rubles).
There was a real boom on the market in 2011. In the first three quarters, total credit card liabilities climbed 45.4% to 331 billion rubles, TCS Bank said.
TCS specializes in working with credit cards.
TCS was founded by the businessman Oleg Tinkov. Tinkov holds 71.44% of the bank's charter capital, the Vostok Nafta fund owns 15% and Goldman Sachs - 13.56%.
TCS was ranked number 122 by asset volume in the Interfax-100 review of Russia's banks for January-September 2011.