Tinkoff Group Becomes Signatory to the Global Principles for Responsible Banking

  • Banking
  • 30.04.2021 03:00 pm

Tinkoff Group has joined the United Nations Environment Programme Finance Initiative (UNEP FI), the largest UN partnership with the finance industry or the worldwide community of nearly 400 banks, insurers and investors. More than 220 banks have now signed the Principles for Responsible Banking, a unique framework for ensuring that signatory banks’ strategy and practice align with the vision society has set out for its future in the Sustainable Development Goals and the Paris Climate Agreement.

The Principles for Responsible Banking provide the framework for banks to: 

  • Align global environmental, social and corporate governance efforts at management level. 

  • Lower the negative environmental impact of their products and services in order to prevent climate change and limit global warming. 

  • Work with customers responsibly, which includes increasing the financial literacy of retail customers and encouraging corporate customers to pursue sustainable economic activity.

  • Incorporate sustainable development in investor relations in order to achieve broader societal goals.

  • Create a corporate culture in line with the sustainable development and responsible banking principles.

  • Act transparently– review business activity and ensure that reports outlining the positive and negative impact of the bank’s operations, as well as its sustainable development efforts, are publicly available. 

Oliver Hughes, Tinkoff Group CEO:

«Becoming a signatory of the Principles for Responsible Banking was a logical step for the Group and is proof of our commitment to continue developing our business sustainably. Corporate social responsibility has always been a part of Tinkoff's DNA, and now we can openly share the results of the implementation of our sustainable development strategy with the community. We are excited to pursue this path and have an even greater impact on our customers, employees, partners, shareholders and society in general

Today, the UNEP FI collaborates with 450 organizations (banks, insurers, investors and related institutions) to ensure that financial services benefit the planet and improve the quality of people's lives without causing harm to future generations.

More information about the Principles for Responsible Banking is available at the following link: www.unepfi.org/responsiblebanking

TCS Group Holding PLC 

TCS Group Holding PLC is an innovative digital provider of 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 digital bank that serves over 13 million customers and forms 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. 

 
 

Related News