The share of Tinkoff Bank, which is one of the country's five leading participants on the credit card market, decreased by 7% by the end of 1Q 2015 from 7.5% in 2014, but in the second half of the year the bank intends to raise its share, said Artem Yamanov, the lender's senior vice president and director for business development.
"It's an open secret that the lending market began to shrink, our market share also slightly dropped from 7.5% to virtually 7%. Sberbank dominates on the credit card market, followed by Bank Russian Standard, the market share of which has fallen fast, and the latter's market share is difficult to assess at the moment. Tinkoff Bank presently ranks fifth, we're holding a market share that is approximately equal to the one controlled by two banks which are ahead of us, I mean Alfa-Bank and VTB 24. I think that this summer we'll enter the stage of aggressive growth on the credit card market and our market share will begin to grow as early as 3Q," said Yamanov.
By this March Tinkoff Bank has issued 5 mln cards. Net profit earned by TCS Group Holding PLC, which consists of Tinkoff Bank and Tinkoff Insurance, totaled Rub 3.4 bln under IFRS in 2014.
