Tinkoff Bank 2018 results represent another record year for the world’s largest digital bank by customer numbers.

The Russian digital bank reports net income up by 43% year-on-year to RUB27.1bn.

Total assets increase by 44.8% to RUB 375.5bn with net lending up by 53% y-o-y.

Meantime, Tinkoff Bank 2018 results reveal a 56% y-o-y rise in deposits.

Tinkoff Bank 2018 results: highlights include:

  • Over 2.7 million new active credit customers;
  • Tinkoff ends 2018 with a credit card market share of 11.8% strengthening its number two position by market share;
  • The launch of the Tinkoff mortgage app to simplify the application process and improve customer experience;
  • Tinkoff and Sberbank launch a joint P2P money transfer service using just a mobile phone number, and
  • The launch of Tinkoff Junior, giving young customers an easy-to-use personal financial management mobile app. Tinkoff Junior card holders can also join the Tinkoff Junior loyalty programme.

Other Tinkoff Bank 2018 results positives include a drop in the share of non-performing loans to 9.4% from 13.4%.

And since the financial year end, Tinkoff is among the first Russian banks to launch the Faster Payments System.

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Looking ahead, Tinkoff forecasts net income of at least RUB 35bn for fiscal 2019. In addition, it expects net loan portfolio growth to be around 40% for 2019.

Other 2019 highlights will include the launch by Tinkoff Investments of a web-based platform for securities trading. The platform is currently in the pilot phase.

Tinkoff Bank 2018 results: financial & lifestyle ecosystem serves over 8m customers

Oliver Hughes, CEO, Tinkoff Bank, comments: ““We’ve had another excellent year, ending 2018 on a high note. We achieved a new record in net profit for both the fourth quarter and the full year, beating our guidance.

“These strong results were driven by both credit and F&C business lines. We continue to expand our financial and lifestyle ecosystem which now serves well over 8 million customers. In 2018, our non-credit business-lines generated over 30% of total revenue.

“We added cinema, theatre and concert tickets to our app, which are proving very popular with customers. Our growing range of non-financial lifestyle services is translating into greater customer loyalty and engagement.”