russian credi card market, 1st quarter 2012
TRANSCRIPT
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7/31/2019 Russian Credi Card Market, 1st quarter 2012
1/9
L}oieyLn}iDn}coyaf]u||en(
>$|y^un}yo}=2>=
Kop}ola}i
Ek>$|y~un}yo}=2>=ygol}oieyln}idn}coyaf]u||en`}opm>?/(ygon``}o`nyovahudoafra}Mahea
}onlgoi9==+5mk+]umho|+\mo}mnkc(nkophonio}afygo}n@k`(gn|ekl}on|oiygom}oncek`npnra|e@ak(
nkiygovome``o|yrhno}|n}o`}apek`fn|yo}ygnkygodn}coy+
Yokiokleo|:
\mo}mnkcgn||y}ok`ygokoiey|honio}|ger+]u||enk\ynkin}y(nreakoo}afygol}oiey}oynehdn}coy(}oynek|
ey|ra|e3ak|+
Kophonio}|afygodn}coydnekynekygo|ynyu|$~uaeknveahokyladro33vo|y}u``ho(coorek`ygo}nyoaf
ra}Nahea|`}apygge`go}ygnkygodn}coy'=2$92/ro}~un}yo}%+
Ygo|olakion}ekn}apygodn}coy|gap|ge`g}nyo|af`}apyg'da}oygnk62/ro}on}(ekygo>$|y~un}yo}
>?/%
Ygo|olakipnvoafygol}oieymaadek]u||en(pgelgda}onkida}oowro}y|mo`ekyaynhcnmauy(ieflo}|m
ygoekl}on|oir}o|okloafygoln}i|o`doky+Avo}>+?on}|(|ekloygomo`ekkek`afygo9$yg~un}yo}=2>2(ygo
l}oieyln}idn}coyvahudogn|iaumhoi+
ge`glakloky}n3akyar?rhno}|laky}ah??+0/afygodn}coy(nki(ekda|yln|o|(ygo|on}okophonio}|
'\mo}mnkc(Va|yalgke(YekcaflL}oiey\|yod|%+
Vahudoafygol}oiey
dn}coyn|ak2>+29+>=
9==mk+]umho|'#>?/n|
ladrn}oipeyg2>+2>+>=%
( + \mo}mnkc 06(6 >7(>/
]u||enk \ynkin}i* 69(7 >?(9(5 9(<
=9Nr}eh=2>=
*]u||enk\ynkin}ymoheovo|ygnyeylak@kuo|ya}nkc}|yyncek`ekyanllaukyyo}dl}oiey|+
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7/31/2019 Russian Credi Card Market, 1st quarter 2012
2/9
L}oieyLn}iDn}coyaf]u||en(>$|y^un}yo}=2>=
=9Nr}eh=2>=
=
Nlla}iek`yaygo}o|uhy|afygo}|yyg}oodakyg|af=2>=\mo}mnkcdnkn`oikayakhya}oynekygohonio}|gernyygol}oieyln}i|dn}coy(muy(n|
po|u``o|yoi(eyekl}on|oiygom}oncek`npn+Avo}ygo~un}yo}ygo|gn}o
`}opf}ad>0+>/ya>7+>/+Ygovahudoafygora}Mahean|akNr}eh>(=2>=o~unhoi06+69mk+]umho|+Fa}ygo}|y@doekge|ya}ygome``o|y]u||enkmnkc}nkcoi}|ynyyge|dn}coyekygo9$yg~un}yo}=2>>+
\ekloygomo`ekkek afygoon}ygoie|y}emu@akafrhnlo|ekygoyar?gn|kay
lgnk`oi\mo}e|fahhapoim]u||enk\ynkin}y'ra}Mahea69+06mk+
]umho|%(ygok`ao|VYV=9'mk+]umho|%(mnkcVa|yalgke'?+6+>/%(VY=9'5/n`nek|y5+9/%nkiAYRnkc'?/n`nek|y?+=/(6$yg
}nkc%+nkc|Va|yalgkenkiYL\ekygo>$|y~un}yo}ekl}on|oiygodn}coy|gn}o|f}ad6+
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7/31/2019 Russian Credi Card Market, 1st quarter 2012
3/9
L}oieyLn}iDn}coyaf]u||en(>$|y^un}yo}=2>=
=9Nr}eh=2>=
7(>/
>?(
-
7/31/2019 Russian Credi Card Market, 1st quarter 2012
4/9
L}oieyLn}iDn}coyaf]u||en(>$|y^un}yo}=2>=
=9Nr}eh=2>=
9
Kudmo}afE||uoi
L}oieyLn}i|n|akygo
Uon}Oki
L}oieyln}idn}coy
Vahudo(Mk+]um+
>00(9/
=2?(7/
>5=(5/
==0(6/
?2/
>0?/
=22/
==?/
=?2/
=0?/
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7/31/2019 Russian Credi Card Market, 1st quarter 2012
5/9
L}oieyLn}iDn}coyaf]u||en(>$|y^un}yo}=2>=
=9Nr}eh=2>=
?
Ygomo`ekkek`afygoon}dnco|eyra||emhoyaowrolyge`g}nyo|afygodn}coy`}apygekygo>$|y~un}yo}=2>=ey|vahudoekl}on|oim>?/+Ygokophonio}|ra}Mahea|`}apfn|yo}ygnkygodn}coy:\mo}mnkc|gapoi`}apygm=>+0/(Va|yalgkem2]a|mnkcnh|adnkn`oiyaauyie|ynkloygodn}coy|he`gyh(eyekl}on|oiey|ra}Maheam>6+=/+Ygo}nyo|af`}apygafaygo}dnja}mnkc|(pgelggnvoluyygoe}|gn}o|nyygodn}coy(n}ohapo}ygnkygonvo}n`oekiownyygodn}coy+
Io|reyoey|hn``ek`mogekiekygo`}apygakolnklo}@ffa}|u}oygo}oyu}koinl@veyafygo]u||enk\ynkin}ymnkc+No}ygo}oiul@akafygol}oieyln}i|ra}Maheaek=225$=2>2ygomnkcmo`nkyaekl}on|on`nekey|lheokymn|o+Ef|ulgnok@akyaygodn}coye|dnekynekoi(]u||enk\ynkin}y(da|yr}amnmh(pehh}oynekygo=$ki}nkcekygo}n@k`uk@hygookiafygolu}}okyon}(n|ndekedud+
Ygomnkc|dnkn`odoky(kovo}ygoho||(moheovo|ygnyygomnkc|gauhi}oynekygo}|y}nkcuk@hkap(molnu|onrn}yafygoln}il}oiey|ygomnkc|gap|nynllauky|9??2?'L}oiey|nkiAygo}N||oy|R}aveioiyaKnyu}nhRo}|ak|fa}nRo}eai]nk`ek`F}ad>7>In|ya>Uon}%(9??26'L}oiey|nkiAygo}N||oy|R}aveioiyaKnyu}nhRo}|ak|fa}nRo}eai]nk`ek`f}ad>Uon}ya>, =2>=,
2-
>2-
=2-
2- =2>>- =2>=-
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7/31/2019 Russian Credi Card Market, 1st quarter 2012
6/9
L}oieyLn}iDn}coyaf]u||en(>$|y^un}yo}=2>=
=9Nr}eh=2>=
6
VYM=9(L}oieyLn}i|
Ra}ahea(Mk+]um+
2-
>2-
=2-
2- =2>>- =2>=-
Va|yalgke(L}oiey
Ln}i|Ra}ahea(Mk+
]um+
2-
>2-
=2-
2- =2>>- =2>=-
Fa}ygo}n@k`pocoor}ola}iafygo|udafnllauky|9??27'L}oiey|nkiAygo}N||oy|R}aveioiyaKnyu}nh
Ro}|ak|uk@hYgoN}oIodnkioi%nki9??25'L}oieyR}aveioiekygoLn|oafn\ga}yn`oafFuki|nyygo
Iora|eyNllauky'Avo}i}n%+
YgoVa|yalgkemnkc(pgelgdnion|ru}ynyygodn}coyhn|yon}(lak@kuoiyaekl}on|o~uelchey|ln}i
ra}Mahea+Ekpgelgln|o(ygomnkc|@hhlak@kuo|yaiovoharygor}aiuly|(pgelgeyr}o|oky|yaey|lheoky|n|
ln|gl}oiey|+Fa}ygoe}r}ave|eaknki|o}velek`Va|yalgkeu|o|ygodolgnke|dafl}oieyln}i|e||uo(
coorek`}ola}iafygodnynllauky9??27(pgelgok|u}o|eyn}nkcekygo}n@k`+
Nge`giodnkiakl}oieyr}aiuly|dnco|eyra||emhoyadnekynekar@de|@lowrolyn@ak|fa}ygolu}}okyon}
fa}ygol}oieyln}idn}coyn|pohh+]olokyh(ygor}o|eiokyafygoVY=9mnkc(ow$deke|yo}afknkloD}+
DecgnehZnia}kav|gn}oige|fa}oln|yakygo`}apygafygodn}coyafnhh}oynehl}oie@k`ek]u||enda}oygnk
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7/31/2019 Russian Credi Card Market, 1st quarter 2012
7/9
L}oieyLn}iDn}coyaf]u||en(>$|y^un}yo}=2>=
=9Nr}eh=2>=
0
AYRMnkc(L}oieyLn}i|
Ra}ahea(Mk+]um+
2-
>2-
=2-
=227- =225- =2>2- =2>>- =2>=-
YL\Mnkc(L}oieyLn}i|
Ra}ahea(Mk+]um+
2-
>2-
=2-
2- =2>>- =2>=-
\ulgiovohardokyafovoky|dnmoie|}uryoim|o}eau|l}e|e|rgokadokakek]u||enkolakadakygo
pgahoa}ekygoknklenh|olya}+Yge|}e|clnkkaymo}uhoiauymolnu|oekygoarekeakafdnkekuok@nh
knkleo}|akoafygogaymoi|afygo`hamnholakadr}amhod|(niomyl}e|e|afygoOu}aronklauky}eo|(gn|
kaymookow@k`ue|goioy+Kovo}ygoho||(nyodra}n}|ahu@akgn|mookfauki(ygokon}o|yr}a|rolyhaac|
r}oielynmho+\adoaygo}owyo}knhnkiekyo}knh}e|cfnlya}|}odnekvnhei(muy|afn}ygo|eyun@aklnkmo
lgn}nlyo}ezoin|fnva}nmho+
Ygor}amhodaffukiek`nyygolnreynhdn}coy|(pgelggn||gn}rokoiiuoyanlahhnr|oafygo|yalcdn}coy
hn|y|uddo}nuyudkfa}]u||enkmnkc|ha|yey|u}`oklyge|on}fa}ygo@domoek`+Ekygomo`ekkek`afygo
on}npekiaparokoi(nki|adorhno}||ullo||fuhhrhnloiygoe}iomy|olu}e@o|+EkDn}lgAYRnkc
rhnloinke||uoafmaki|fa}6mk+]umho|(nkiekNr}ehYL\nkcn}nlyoinyygoDELOW
'Da|lapEkyo}mnkcLu}}oklOwlgnk`o%>+?mk+]umho|+Fnva}nmhodn}coylakie@ak|oknmhomnkc|ya
lak@kuoyaekl}on|ol}oie@k`nynge`g}nyo+
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7/31/2019 Russian Credi Card Market, 1st quarter 2012
8/9
L}oieyLn}iDn}coyaf]u||en(>$|y^un}yo}=2>=
=9Nr}eh=2>=
7
Nhfn$mnkc(L}oieyLn}i|
Ra}ahea(Mk+]um+
2-
>2-
=2-
=227- =225- =2>2- =2>>- =2>=-
Nkekl}on|oikudmo}afu|o}|afygoEkyo}koynkidamehonnlgdoky|(n|pohhn|ygo`oko}nh`}apygafygo
hovohafyolgkelnhheyo}nlafygoraruhn@ak(rhnekygognki|afygomnkc|(pgelgiovohar|ulgge`gh
yolgkaha`elnhek|y}udokyn|l}oieyln}i|+?0+7dh+}o|eioky|af]u||ena}?2/afygoraruhn@akn`oi>7on}|nkiahio}u|oygoEkyo}koy(nyhon|y(aklondakyg(n|eye|oveiokyf}adygoRumhelarekeakFuki|inyn+Ekygo
mo`ekkek`afygoon}|ovo}nhrhno}|afygo]u||enkln}idn}coynkkaukloi|eduhynkoau|hnmauy
yolgkaha`elnhr}aiulyekkavn@ak|nkinmauyhnuklgek`gopdamehonnlgdoky|fa}u|o}|afygoe}ln}i|+
o|eio|(ekygo|r}ek`kophn}`o$|lnhonivo}@|ek`lndrne`k|afygohoniek`rhno}||yn}yoi(pgelgeklhuioin
|e`kelnkyr}o|oklonyYVlgnkkoh|+
Nhhyge|dnco|eyra||emhoyaowr}o||lakiokloygnyekygokon}fuyu}oygodn}coypehh|oydnkkop}ola}i|+
\vnzkaMnkc(L}oiey
Ln}i|Ra}ahea(
Mk+]um+
2-
>2-
=2-
=227- =225- =2>2- =2>>- =2>=-
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7/31/2019 Russian Credi Card Market, 1st quarter 2012
9/9
L}oieyLn}iDn}coyaf]u||en(>$|y^un}yo}=2>=
=9Nr}eh=2>=
5
]a|mnkc(L}oieyLn}i|
Ra}ahea(Mk+]um+
Yge|}ora}ye|dniourm|rolenhe|y|afygoYekcaflL}oiey\|yod|mnkc+Pgehor}orn}ek`ygo}ora}yygonkcpn|`ueioimygoekfa}dn@ak}oloevoif}adalenh|au}lo|+Ygora}Mahea|vahudopn|lnhluhnyoin|nvahudoafukiuoiomyakygor}eklernhiomy
nlla}iek`yaygoLoky}nhnkc|inynpeygnkniie@aknhowro}yn||o||dokyafygo|olu}e@zoin||oy|+
Rhon|o(nii}o||D}+Aho`Nke|edav(a+nke|edavByl|mnkc+}u}o`n}iek`lahhnma}n@ake||uo|+
L}oieyln}i|afYL\:gr:!!ppp+yl|mnkc+}u!l}oiey+Iora|ey|afYL\:gr:!!ppp+yl|mnkc+}u!iora|ey+
YekcaflL}oiey\|yod|(=2>=+Nhh}e`gy|n}or}ayolyoi+Pgok~ua@k`(rhon|o(}ofo}yaygomnkcYekcaflL}oiey\|yod|+
2-
>2-
=2-
=227- =225- =2>2- =2>>- =2>=-
GCFMnkc(L}oieyLn}i|
Ra}ahea(Mk+]um
>2,
=2,
2, =2>>, =2>=,