12 Jan 2022 16:22

TCS Group registers subsidiary in Singapore as part of international expansion

MOSCOW. Jan 12 (Interfax) - TCS Group has registered the subsidiary Tinkoff Global PTE in Singapore as part of its international expansion.

This company was included in the same group as Tinkoff Bank in October 2021, according to the lender's list of affiliates.

"The company was created as part of the group's international expansion process," a TCS spokesperson told Interfax.

It was reported earlier that TCS Group is considering three markets in Southeast Asia for international expansion. One of them the group disclosed: it plans to obtain a banking license in the Philippines.

"We are in dialogue with regulators and market participants in a number of fast-growing countries in Southeast Asia," the spokesperson said. He added that obtaining regulatory approvals usually takes a long time.

The main shareholder of TCS Group is Oleg Tinkov's family trust, which owns 35.1% after the SPO. The group's management owns 6.5%.

Tinkoff Bank was ranked 15th by assets as of the end of Q3 2021 in the Interfax-100 ranking.