Baring Vostok believes that financial services are likely to continue to be one of the region’s most rapidly growing sectors, as its banking sector matures and penetration of other financial products increases towards the levels of more developed economies. Since 1994, Baring Vostok funds have invested over $750 million in 11 banks and financial services companies in Russia and Kazakhstan.
Kaspi bank

Kaspi bank

One of the leading retail banks in Kazakhstan
Location:
Alma-Ata, Kazakhstan
Year of initial investments:
2006
Shareholding:
Controlling stake

Kaspi Bank is now the leading retail bank in Kazakhstan. It has the highest growth in retail deposits and loans, the highest number of credit cards issued, and the fastest growing network of branches. The bank is one of the leading companies in Kazakhstan for brand recognition among all industry sectors.

Kaspi Bank is one of the largest retail banks in Kazakhstan. Baring Vostok Private Equity Fund III purchased a controlling share of the Bank in 2006.

Development stages:

  • Mikhail Lomtadze, a partner of Baring Vostok, became CEO of the bank. The IT, finance, retail loan, risk assessment and marketing teams were strengthened.
  • A strategy for transforming the bank into a leading retail bank in Kazakhstan was developed, and over 100 projects were implemented to increase the bank’s efficiency and optimise its structure.
  • The bank, previously Bank Caspian, was rebranded as "Kaspi Bank", and new branch designs were developed.
  • In 2008, the IT and risk systems were centralised, enabling clients to be served much more quickly.
  • The retail product range was simplified and prioritised. In 2009, the bank launched a revolving credit card for the general public, and by 2014 had 3 mln customers.
  • The bank launched a project to open a new branch every three days, and now has 270 branches and 730 loan application points.

Other projects

News

12 October 2017

TCS Group Holding PLC acquires a majority stake in CloudPayments.

TCS Group Holding PLC, Russia’s leading provider of online retail financial services via its Tinkoff.ru financial supermarket, is pleased to announce the purchase of a 55% controlling stake in CloudPayments, an innovative developer of online payment solutions.
19 May 2017

ACRA assigns Tinkoff Bank an А(RU) rating, outlook Stable.

TCS Group Holding PLC, Russia’s leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces that the Analytical Credit Rating Agency (ACRA) (Russia) has awarded Tinkoff Bank an, А(RU) rating with a stable outlook.
05 April 2017

Tinkoff Bank to launch a mobile virtual network operator.

TCS Group Holding PLC, Russia’s leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces the launch of its own mobile virtual network operator (MVNO).
14 March 2017

TCS Group Holding PLC Announces 4Q and FY 2016 IFRS Results.

TCS Group Holding PLC, Russia's leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces its audited IFRS results for the full year ended 31 December 2016, and a new dividend policy.
22 February 2017

Moody’s upgrades long-term debt and deposit ratings of Tinkoff Bank to B1 from B2.

TCS Group Holding PLC, Russia’s leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces that Moody’s upgraded Tinkoff Bank’s long-term local- and foreign-currency deposit ratings and local-currency senior unsecured debt ratings to B1 from B2, outlook — stable.