"Yandex" and Ozon decided to engage in the development of their banks

"Yandex and Ozon, which own two of Russia's three largest marketplaces, are actively recapitalizing their recently acquired banking institutions. According to the results of the last three months, the capital of Yandex-bank increased 1.6 times, and Ozon-bank - twice.

According to experts, this is enough to start working in the consumer lending segment. Nothing prevents these banks from entering the top 75 largest players in the segment. Market participants believe that Yandex and Ozon will not rush to launch consumer lending. It is most likely that they will first begin to work in less risky segments such as installment services.
At the beginning of November, Yandex Bank's capital was $22.77 million. And Ozon-bank - $10.83 million. Over the past three months, the capital of the banks increased by 1.6 and 2 times.  Ozon-bank was launched by online retailer Ozon on the basis of Oney-bank, which was bought from Sovkombank at the end of spring of this year. Yandex-bank operates on the basis of the credit institution "Acropol", the owner of which "Yandex" became last summer.

According to analysts, Yandex may start lending to visitors of Yandex.Market marketplace and Auto.ru car resource. Loans to visitors of marketplace are currently provided by Tinkoff. It is highly probable that in the near future the partners will be replaced by Yandex with its own lending channels.