In 2012 the Russian credit card market grew by 82.5%, having exceeded the growth rates of 2011 (61.6%), and having exceeded twofold the total growth amount for the retail lending market (about 40%). As of 1 January, 2013 the total volume of the Russian banks’ credit card portfolio made up 671.3 billion roubles.

1. January
29,
2013
Credit
card
market
in
Russia,
2012
The
market
size
as
of
Bank Portfolio,-billion-roubles Market-share
01.01.13
Sberbank ------------------------- 149,3 22,2%
671
billion
roubles
(+82,5%
Russian-Standard-Bank* ------------------------- 100,9 15,0%
as
compared
to
01.01.12)
VTB24 --------------------------- 48,6 7,2%
TCS-Bank --------------------------- 48,0 7,2%
Orient-Express-Bank --------------------------- 45,1 6,7%
Svyaznoy-Bank --------------------------- 32,5 4,8%
Alfa-bank --------------------------- 30,8 4,6%
OTP-Bank --------------------------- 29,9 4,5%
HCF-Bank --------------------------- 19,6 2,9%
Rosbank --------------------------- 15,4 2,3%
*See
note
at
the
end
of
the
document
The
credit
card
market
is
on
course
for
a
trillion
In
2012
the
Russian
credit
card
market
grew
by
82.5%,
having
exceeded
the
growth
rates
of
2011
(61.6%),
and
having
exceeded
twofold
the
total
growth
amount
for
the
retail
lending
market
(about
40%).
As
of
1
January,
2013
the
total
volume
of
the
Russian
banks’
credit
card
porLolio
made
up
671.3
billion
roubles,
the
increment
for
the
year
–
303.5
billion
roubles.
Almost
the
enOre
market
growth
can
be
aPributed
to
the
top
20
top
players,
whose
porLolios
in
aggregate
have
increased
by
282.8
billion
roubles.
The
first
five
banks
have
increased
their
porLolios
by
191
billion
roubles,
the
market
leader,
Sberbank,
–
by
86.3
billion
roubles.
Among
the
20
major
credit
cards
market
players,
seven
banks
have
increased
their
porLolios
by
more
than
twofold.
Trends
and
forecasts:
• In
2012
the
credit
cards
market
grew
by
82.5%
(in
2011–
by
61.6%);
the
total
size
made
up
671.3
billion
roubles;
• 63%
of
the
increment
is
accounted
for
by
the
5
top
leaders
of
the
market,
28.4%
of
growth
is
ensured
by
Sberbank;
• Seven
banks
in
the
top
20
have
increased
their
porKolios
more
than
twofold
–
Sberbank,
TCS
Bank,
Svyaznoy,
Alfa
bank,
Trust,
MTS
Bank,
SKB
Bank;
• Sberbank
increased
its
market
share
the
fastest,
growing
it
from
17.1%
to
22.2%;
• In
2013
there
is
a
likelihood
of
a
slowdown
of
growth
down
to
50-­‐60%,
in
parScular,
due
to
levelling
out
of
the
low
base
effect;
its
size
will
approach
1
trillion
roubles.
1

2. January
29,
2013
Credit
card
market
in
Russia,
2012
Leaders’
accelera?ng
finish
In
Quarter
IV
of
the
year
2012
the
market
growth
slowed
down
to
13.9%,
whereas
in
Quarter
III
this
figure
was
17.8%,
in
Quarter
II
–
18.3%,
in
I
–
15%.
According
to
the
results
of
the
last
three
months,
the
market
size
has
increased
by
81.8
billion
roubles.
The
most
acOve
banks
took
advantage
of
the
general
slump
in
the
growth
at
the
end
of
the
year,
in
order
to
improve
their
posiOons.
TCS
Bank
(4th
place
in
terms
of
porLolio
size)
closed
the
gap
on
VTB24
down
to
0.6
billion
rouble,
and
increased
the
market
share
in
Quarter
IV
from
6.8%
to
7.2%.
Simultaneously
VTB24
(3d
place)
whiPled
down
its
market
share
from
7.9%
to
7.2%.
Dynamics
of
credit
card
porDolios,
billion
roubles
Banks 01.01.08 01.01.09 01.01.10 01.01.11 01.01.12 01.01.13
Portfolio Market6share Portfolio Market6share Portfolio Market6share Portfolio Market6share Portfolio Market6share Portfolio Market6share
Sberbank ++++++++
0,7 0,4% ++++++++
2,5 1,2% ++++++
8,3 4,3% ++++
25,4 11,2% ++++
63,0 17,1% ++
149,3 22,2%
Russian+Standard+Bank ++++++
88,3 49,8% ++++++
70,9 34,5% ++++
56,3 29,2% ++++
49,5 21,7% ++++
59,3 16,1% ++
100,9 15,0%
VTB24 ++++++++
3,6 2,0% ++++++
12,0 5,8% ++++
19,2 10,0% ++++
24,8 10,9% ++++
34,5 9,4% ++++
48,6 7,2%
TCS+Bank ++++++++
0,7 0,4% ++++++++
4,5 2,2% ++++++
4,9 2,5% ++++++
9,6 4,2% ++++
21,2 5,8% ++++
48,0 7,2%
Orient+Express+Bank ++++++++
0,0 0,0% ++++++++
0,2 0,1% ++++++
1,5 0,8% ++++++
3,1 1,4% ++++
23,1 6,3% ++++
45,1 6,7%
Svyaznoy+Bank ++++++++
0,0 0,0% ++++++++
0,0 0,0% ++++++
0,0 0,0% ++++++
0,2 0,1% ++++
12,4 3,4% ++++
32,5 4,8%
Alfa+bank ++++++++
5,3 3,0% ++++++++
8,2 4,0% ++++++
8,6 4,5% ++++
10,7 4,7% ++++
13,6 3,7% ++++
30,8 4,6%
OTP+Bank ++++++++
5,0 2,8% ++++++++
6,8 3,3% ++++++
6,9 3,6% ++++
12,5 5,5% ++++
19,1 5,2% ++++
29,9 4,5%
HCF+Bank ++++++
20,9 11,8% ++++++
21,7 10,5% ++++
16,6 8,6% ++++
11,1 4,9% ++++
14,1 3,8% ++++
19,6 2,9%
Rosbank ++++++++
2,9 1,6% ++++++++
3,7 1,8% ++++++
3,5 1,8% ++++++
5,9 2,6% ++++
11,2 3,0% ++++
15,4 2,3%
Citibank ++++++++
6,8 3,8% ++++++
10,7 5,2% ++++
12,0 6,2% ++++
12,9 5,7% ++++
11,2 3,0% ++++
12,6 1,9%
Credit+Europe+Bank ++++++++
1,3 0,7% ++++++++
2,9 1,4% ++++++
3,2 1,7% ++++++
5,2 2,3% ++++++
9,5 2,6% ++++
11,7 1,7%
Privatbank ++++++++
1,9 1,1% ++++++++
3,4 1,7% ++++++
2,7 1,4% ++++++
4,2 1,8% ++++++
7,8 2,1% ++++
10,5 1,6%
Renaissance+Capital ++++++++
2,6 1,5% ++++++++
5,2 2,5% ++++++
3,8 2,0% ++++++
4,1 1,8% ++++++
5,7 1,6% ++++++
9,8 1,5%
Trust ++++++++
1,0 0,6% ++++++++
1,0 0,5% ++++++
0,4 0,2% ++++++
1,4 0,6% ++++++
3,7 1,0% ++++++
9,7 1,4%
Raiffaisenbank ++++++++
1,0 0,6% ++++++++
1,9 0,9% ++++++
2,4 1,2% ++++++
2,8 1,2% ++++++
4,0 1,1% ++++++
7,1 1,1%
MTS+Bank ++++++++
1,5 0,8% ++++++++
2,5 1,2% ++++++
2,1 1,1% ++++++
2,1 0,9% ++++++
2,5 0,7% ++++++
6,4 1,0%
Avangard ++++++++
6,7 3,8% ++++++++
9,1 4,4% ++++++
6,1 3,2% ++++++
4,3 1,9% ++++++
4,2 1,1% ++++++
6,2 0,9%
Uralsib ++++++++
1,0 0,6% ++++++++
1,4 0,7% ++++++
1,5 0,8% ++++++
1,9 0,8% ++++++
3,1 0,8% ++++++
6,0 0,9%
SKB+Bank ++++++++
0,0 0,0% ++++++++
0,0 0,0% ++++++
0,0 0,0% ++++++
0,0 0,0% ++++++
0,1 0,0% ++++++
5,8 0,9%
Others ++++++
26,2 14,8% ++++++
37,2 18,1% ++++
32,9 17,0% ++++
36,0 15,8% ++++
44,5 12,1% ++++
65,2 9,7%
Total 666
177,4 100,0% 666
205,8 100,0% 6
192,9 100,0% 6
227,6 100,0% 6
367,8 100,0% 6
671,3 100,0%
2

3. January
29,
2013
Credit
card
market
in
Russia,
2012
Banks’
shares
in
the
credit
card
market
Sberbank
Russian
Standard
Bank
22,5%
22,2%
VTB24
TCS
Bank
Orient
Express
Bank
2,3%
Svyaznoy
Bank
2,9%
Alfa
bank
4,5%
15,0%
OTP
Bank
4,6%
HCF
Bank
4,8%
7,2%
Rosbank
6,7%
7,2%
Others
In
Quarter
IV
Bank
Svyaznoy
rose
from
7th
to
6th
posiOon,
having
increased
its
share
from
4.6%
to
4.8%.
Alfa
bank
rose
from
8th
to
7th
posiOon,
having
increased
its
share
from
4.1%
to
4.6%.
OTP
Bank,
which
had
given
way
to
Svyaznoy
and
Alfa,
fell
from
6th
to
8th
posiOon,
and
decreased
its
market
share
from
4.6%
to
4.5%.
Sberbank
and
Russian
Standard
remained
in
the
lead,
having
increased
their
market
shares
to
22.2%
and
15%
from
21,8%
and
14.9%
respecOvely.
According
to
the
results
of
2012,
the
ten
largest
banks
in
the
credit
cards
market
look
as
follows:
Sberbank
(with
the
porLolio
of
149.3
billion
roubles),
Russian
Standard
(100.9
billion
roubles),
VTB24
(48.6
billion
roubles),
TCS
Bank
(48
billion
roubles),
Orient
Express
Bank
(45.1
billion
roubles),
Svyaznoy
(32.5
billion
roubles),
Alfa
bank
(30.9
billion
roubles),
OTP
Bank
(30
billion
roubles),
HCF
Bank
(19.6
billion
roubles),
Rosbank
(15.5
billion
roubles).
GE
Money
Bank
lec
the
Top-­‐20
in
Quarter
IV
to
make
way
for
SKB
Bank
that
had
joined
the
twenty
for
the
first
Ome.
MTS
Bank,
which
had
joined
the
group
of
leaders
a
quarter
before,
conOnued
its
ascent
having
risen
from
20th
to
17th
posiOon
–
with
the
porLolio
of
6.4
billion
roubles.
Avangard
slid
down
from
17th
to
18th
posiOon.
The
other
banks
retained
their
posiOons
3
which
they
had
achieved
in
the
third
quarter.

4. January
29,
2013
Credit
card
market
in
Russia,
2012
2007 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
8%944
Number
of
issued
2008 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
9%296
credit
cards
2009 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
8%601
2010 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
10%047
2011 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
15%026
(as
of
the
end
of
the
year
and
Q3#2012 #########################################
20#426
quarter)
Survival
of
the
fiKest
In
2012,
due
to
high
compeOOon
in
the
credit
cards
market,
one
had
to
show
the
growth
that
had
to
be
much
higher
than
the
market,
so
as
not
to
yield
one’s
posiOons
to
more
acOve
players.
Seven
banks
of
the
top-­‐20
increased
their
porLolios
more
than
twofold
–
Sberbank,
Tinkoff
Credit
Systems
(TCS
Bank),
Svyaznoy,
Alfa
bank,
Trust,
MTS
Bank
and
SKB
Bank.
These
players
were
able
to
raise
their
raOngs
and
expand
their
market
share.
Sberbank,
which
led
the
raOng
at
the
end
of
2011,
did
not
ease
up
in
2012.
The
increase
of
the
porLolio
by
137.1%
to
almost
150
billion
roubles
enabled
the
bank
to
take
up
22.2%
of
the
market.
At
the
beginning
of
the
year
this
figure
was
17.1%,
the
retail
giant
was
building
up
its
share
during
the
year
faster
than
all
other
market
players.
Some
leaders
of
the
past
were
able
to
retain
their
posiOons
in
the
raOng
on
account
of
the
size,
which
had
been
gained
previously,
but
they
lost
some
of
their
market
shares.
Subject
to
the
last
year’s
results,
Russian
Standard
grew
its
porLolio
by
70.1%
(by
42
billion
roubles),
having
scaled
down
the
market
share
from
16.1%
to
15%,
and
retained
the
posiOon
in
the
2nd
line.
VTB24
accrued
41.1%
(14.2
billion
roubles),
remained
in
the
3d
line,
but
reduced
the
share
from
9.4%
to
7.2%.
Size
of
the
credit
card
800
671,3
market,
billion
roubles
700
600
500
367,8
400
300
205,8
227,6
177,4
192,9
200
100
0
2007
2008
2009
2010
2011
2012
4

5. January
29,
2013
Credit
card
market
in
Russia,
2012
In
2012
TCS
Bank
rose
to
4th
posiOon
by
increasing
its
porLolio
by
126.5%
(by
26.8
billion
roubles).
TCS’
share
in
the
credit
cards
market
grew
from
5.8%
to
7.2%.
Orient
Express
Bank
moved
to
the
lower
posiOon
by
occupying
the
5th
place
and
increasing
its
share
from
6.3%
to
6.7%.
The
increment
of
this
bank’s
porLolio
in
2012
made
up
95.2%
(22
billion
roubles).
Bank
Svyaznoy
rose
from
9th
to
6th
posiOon
within
a
year,
on
account
of
the
increase
of
its
porLolio
by
162.5%
(by
20.1
billion
roubles).
Svyaznoy’s
market
share
swelled
from
3.4%
to
4.8%.
Alfa
bank
rose
from
8th
to
7th
posiOon
in
the
raOng
in
terms
of
the
credit
cards
porLolio,
having
succeeded
in
increasing
the
market
share
from
3.7%
to
4.6%.
The
growth
of
the
bank’s
porLolio
in
2012
made
up
126.2%
(17.2
billion
roubles).
OTP
Bank,
which
had
lost
two
posiOons,
found
itself
in
8th
place
(growth
by
56.2%),
HCF
Bank
went
down
to
9th
posiOon
from
7th
(growth
by
39.4%),
Rosbank
remained
in
10th
place
with
the
increment
of
38.3%.
Dynamics
of
the
largest
players
within
the
year,
billion
roubles
160
Sberbank
140
Russian
Standard
120
Bank
100
VTB24
80
TCS
Bank
60
Orient
Express
40
Bank
20
-­‐
5

6. January
29,
2013
Credit
card
market
in
Russia,
2012
Among
the
second
ten
high
growth
rates
were
demonstrated
by
Trust
-­‐
with
the
increment
of
162.1%
(6
billion
roubles)
and
MTS
Bank,
which
joined
the
top
20
in
III
quarter
for
the
first
Ome,
-­‐
with
the
increment
of
152.9%
per
year
(3.9
billion
roubles).
SKB
Bank
stands
out,
taking
according
to
the
results
of
Quarter
IV
the
20th
place
with
the
porLolio
of
5.8
billion
roubles
and
the
share
of
0.9%.
Having
started
from
the
low
base
it
had
grown
by
over
4,200%.
According
to
the
results
of
2012,
Uralsib
became
the
third
newcomer
within
the
top-­‐20,
having
increased
the
porLolio
by
95.1%
(by
2.9
billion
roubles).
MDM
Bank,
Uniastrum
and
GE
Money
Bank
lec
the
top
20
last
year.
Change
of
posi?ons
among
the
top
10
1
Sberbank
2
Russian
Standard
Bank
3
VTB24
4
TCS
Bank
5
Orient
Express
Bank
6
Svyaznoy
Bank
7
Alfa
bank
8
OTP
Bank
9
HCF
Bank
10
Rosbank
6

7. January
29,
2013
Credit
card
market
in
Russia,
2012
Quality
growth
Year
2013
expects
to
see
a
slight
slowdown
of
the
growth
rates
in
the
Russian
credit
cards
market.
The
levelling
out
of
the
low-­‐base
effect
and
the
banks’
willingness
to
maintain
high
quality
of
their
credit
porLolios
will
contribute
to
that.
The
market
sOll
has
a
high
potenOal,
only
~17%
of
Russians
have
credit
cards,
despite
almost
90
million
of
economically
acOve
populaOon.
We
should
remind
that
the
revival
of
the
cards
market
acer
the
post-­‐crisis
plateau
began
in
the
second
half
of
year
2010.
The
trend
for
outrunning
growth
of
the
acOve
market
parOcipants
remains
stable.
There
is
a
possibility
of
slight
slowdown
of
the
growth
rates
of
the
porLolios
of
the
banks,
which
acOvely
used
the
salary
projects
resource
last
year
in
order
to
increase
the
client
base
in
terms
of
credit
cards
use.
“In
2013,
the
five
credit
cards
market
leaders,
including
TCS
Bank,
will
conOnue
to
grow
their
porLolios
at
a
fast
pace.
But
I
do
not
think
that
the
market
on
the
whole
will
be
able
to
repeat
last
year’s
growth
results
from
such
a
large
base
because
the
total
porLolio
of
the
banks
is
now
quite
significant,”
says
the
President
of
TCS
Bank
Oliver
Hughes.
“I
believe
that
we
will
see
an
overall
slowdown
of
growth
rates
to
50-­‐60%.
For
the
most
part,
the
growth
will
be
driven
by
the
5
major
players.”
Note
(*):
The
management
of
the
bank
Russian
Standard
believes
that
the
volume
of
the
bank’s
por?olio
is
larger,
since
some
“card
credits”
are
recognized
by
the
bank
in
accounts
45505
(Loans
and
other
money
provided
to
individuals
for
a
period
from
181
days
to
1
year),
45506
(Loans
and
other
money
provided
to
individuals
for
a
period
from
1
year
to
3
years),
45507
(Loans
and
other
money
provided
to
individuals
for
a
period
over
3
years).
Our
experts’
opinion
is
that
a
classical
credit
card
means
a
demand
loan.
For
the
purposes
of
the
raRng
we
recognize
the
sum
of
the
accounts
45508
(Loans
and
other
money
provided
to
individuals
on
a
call
basis)
and
45509
(Loan
provided
in
case
of
lack
of
money
in
the
deposit
account
(“overdraU”)).
PorDolio
growth
leaders
7

8. January
29,
2013
Credit
card
market
in
Russia,
2012
This
report
is
made
by
the
specialists
of
the
Bank
Tinkoff
Credit
Systems.
For
the
purposes
of
drawing
up
the
report
the
bank
relied
on
the
informaOon
of
the
RF
Central
Bank.
On
cooperaOon
maPers
please
contact
Oleg
Anisimov
o.anisimov@tcsbank.ru
TCS
credit
cards:
hPp://www.tcsbank.ru/credit.
TCS
deposits:
hPp://www.tcsbank.ru/deposit.
TCS
debit
cards:
hPp://www.tcsbank.ru/debit/
©
Tinkoff
Credit
Systems,
2013.
All
rights
reserved.
For
quotes
please
refer
to
the
bank
Tinkoff
Credit
Systems.
8