OREANDA-NEWS. TCS Group Holding PLC (TCS LI) (the "Group"), Russia's leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces that Tinkoff Bank signed an additional assignment agreement with Svyaznoy Bank to transfer part of Svyaznoy Bank's credit card loan portfolio to Tinkoff Bank. The transaction was closed in early July 2015. The total size of the assigned loan portfolio and financial details of the transaction are not disclosed.

This agreement follows the first transaction to transfer part of Svyaznoy Bank's credit card loan portfolio which was announced on 18 June 2015.

Commenting on the transaction, Oliver Hughes, CEO of Tinkoff Bank, said: "We are pleased to have successfully completed the integration of the portfolio acquired in June. Our proprietary integration technology enabled us to deliver a seamless transition for our clients. Further to this success, we decided to continue expanding our loan portfolio inorganically by adding a new share of Svyaznoy Bank's credit card portfolio with a good risk-return profile. We expect this addition to become yet another growth driver for our business in the very short run".

As reported earlier, Tinkoff Bank developed a tailor-made technological platform to support the integration of Svyaznoy Bank's customers into its client portfolio.

Tinkoff Bank undertakes to fulfil all of its obligations to Svyaznoy Bank's customers by offering them top-quality service and access to its advanced services and technology.