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T-Bank holding to change name
The TCS Holding Group, which includes T-Bank (formerly Tinkoff), will change its name to T-Technologies, the press service told RBC.
"The group name update reflects our long-term philosophy of developing the T-Bank ecosystem. T-Bank's business is based on technology and innovation, which allows us to create the world's most advanced IT solutions, including artificial intelligence." said.
They noted that the letter "T" is the basis of all its brands, including T-Bank, T-Business, T-Investments, T-Insurance and T-Mobile.
TCS Group was founded in 2006, the same year that Tinkoff founder Oleg Tinkov (recognized as a foreign agent by the Russian Ministry of Justice) acquired Khimmashbank and created a bank without branches. In 2021, financial institutions were included in the list of systemically important organizations.
After the outbreak of hostilities in Ukraine, Tinkov sold his 35% of TCS Group shares to Vladimir Potanin's Interros and later announced his decision to renounce Russian citizenship. Commenting on its position, the bank indicated that Tinkov has not been involved in the management of the organization for many years and is one of its 20 million clients.
In June 2024, Tinkoff Bank changed its name to T-Bank.