TCS Group could complete re-domiciliation in first quarter of 2024

MOSCOW. Jan 16 (Interfax) - TCS Group Holding, the parent company of Tinkoff Bank and Tinkoff Insurance, could complete re-domiciliation in the first quarter of 2024, Tinkoff Bank Executive Board Chairman Stanislav Bliznyuk told reporters.

"Perhaps even within the first quarter [the group could complete re-registration in Russia]," Bliznyuk said.

Bliznyuk said that the matter was the responsibility of shareholders when answering whether the group would then resume paying dividends.

"If there is the capability, then this is a matter for the shareholders. The main issue is that the capability arises," Bliznyuk said.

As reported, TCS Group will re-register from Cyprus to the special administrative region (SAR) on Russky Island, Vladivostok City District, and will be renamed International Public Joint-Stock Company (IPJSC) TCS Holding.

TCS Group suspended dividend payments in November 2021.

Vladimir Potanin's Interros Group is TCS Group's principal shareholder with a 35% stake.