TCS Group Holding PLC: issue of 2020 Sustainability Report - its first according to GRI Standards
Limassol, Cyprus - 30 June 2021. TCS Group Holding PLC (LI: TCS, MOEX: TCSG) ("Tinkoff" or the "Company"), Russia's leading provider of online financial and lifestyle services via its Tinkoff ecosystem, today announces the release today of its fourth sustainability (non-financial information and diversity statement) report and first in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Standards, option 'Core'.
The GRI Standards create a common language for organisations to report on their sustainability impacts in a consistent and credible way that meets the needs of multiple stakeholders. This enhances global comparability and transparency.
The decision to prepare our Sustainability Report 2020 in accordance with GRI Standards is a logical consequence of the Company's relentless efforts to improve the quality of disclosures for our stakeholders, further embed sustainability principles into our Company's businesses and evidences our commitment to transparency and corporate social responsibility.
The Sustainability Report 2020 contains information needed to understand the nature of the Tinkoff business, its material topics and related impacts and how these are managed. It shows the Group's economic, social and environmental sustainability initiatives now and for the future, as well as actions taken by the Company to support online and offline communities in Russia in response to COVID-19. We believe the 2020 report already represents a significant improvement relative to previous editions, yet we remain committed to further improve our non-financial disclosures according to GRI standards. The Report can be found on the Company's websites at www.tcsgh.com.cy and www.tinkoffgroup.com
The Chairperson of the Company's Sustainability Committee, Margarita Hadjitofi commented:
'Tinkoff Group takes its role as a market leader seriously, striving to be proactive and to also lead in sustainability. The commitment to sustainable practices is evident throughout the Tinkoff business and is central to the Board's strategy. Tinkoff Group is not only operationally successful but has the right moral compass and company ethos and sharing the 2020 non-financial results, this time prepared in accordance with GRI Standards, with our stakeholders and the wider public is a positive step to improving ESG disclosures. I am excited to be a part of this dynamic Board and to chair the Company's Sustainability Committee.'
Oliver Hughes CEO, added:
'In April Tinkoff Group joined UNEP FI, committing to the Principles for Responsible Banking, the framework for ensuring banks' strategy and practices align with the vision for the future set out in the Sustainable Development Goals and the Paris Climate Agreement. It is excellent that we are able to commit the Group publicly to this path. Tinkoff's unique business model had from day one and retains at its core developing a sustainable business and that, if perhaps understated, has long been deeply embedded in the Tinkoff DNA. I am pleased to share with you today the latest results of our efforts, which while there is much more to do, are an impressive statement of our track record and show our direction of travel.
At the same time let me extend my thanks to the members of our new Sustainability Committee all of whom joined the Board this year and a warm welcome to Tatiana Polyakova, our first dedicated Head of Sustainability, who joined us recently.'
In the next few weeks Tinkoff plans to hold a call with the broader capital markets community to discuss the key governance and organizational changes related to sustainability as well as to discuss the key highlights from the 2020 Sustainability report. Details will be disclosed in due course.
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TCS Group Holding PLC
TCS Group Holding PLC is an innovative provider of online retail financial services. Its portfolio includes Tinkoff Bank, the mobile virtual network operator Tinkoff Mobile, Tinkoff Insurance, the management company Tinkoff Capital, Tinkoff Software DC, a network of development hubs in Russia's largest cities, and Tinkoff Education. The Group is currently developing the Tinkoff ecosystem, which offers financial and lifestyle services.
The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has been listed on the London Stock Exchange and on the Moscow Exchange.
The Group's largest business is Tinkoff Bank, a fully online bank that serves over 13 million customers and represents the core of the Tinkoff ecosystem.
Tinkoff Bank is the second largest player in the Russian credit card market, with a share of 14.0%. The 2020 IFRS net income of TCS Group Holding PLC amounted to RUB 44.2 billion. The ROE was 40.6%.
With no branches, the Group serves all its customers remotely via online channels and a cloud-based call centre. To ensure smooth delivery of the Group's products, the Group has a proprietary nationwide network of representatives.
Global Finance named Tinkoff Bank the world's Best Digital Consumer Bank in 2018 and 2020, the Best Digital Consumer Bank in Russia in 2020, 2018, 2016 and 2015, and the Best Digital Consumer Bank in Central and Eastern Europe in 2019 and 2020. The Banker recognised Tinkoff Bank as the Bank of the Year in Russia in 2017 and 2013, and as the Best-performing Russian Bank in 2020. The bank's mobile app has consistently received top industry ratings and awards (by Deloitte in 2013, 2014, 2015, 2016 and by Global Finance in 2018 and 2020) and in 2020, was ranked by Forbes among the top-3 Best Russian Employers.