19 November 2021

X5 Group launches X5 Bank-branded financial services

Moscow, 19 November 2021 – X5 Group (“X5” or the “Company”, LSE and MOEX ticker: FIVE), a leading Russian food retailer that operates the Pyaterochka, Perekrestok and Karusel retail chains, announces the pilot launch of financial services under the X5 Bank brand. The first stage will involve digital cards that combine the functionality of Pyaterochka and Perekrestok loyalty cards with banking services such as payments, money transfers and rouble-denominated cash back, among others.

The digital X5 Card is already available to users of the Perekrestok mobile app in 10 cities.[1] Within a month, the cards will also become available to Pyaterochka customers in 13 cities.[2] To receive a card, users can update their current loyalty card to a bank debit card through either the Perekrestok or Pyaterochka mobile app. When registering through one of the apps, users can also order a plastic card, which will be delivered by courier. In addition, X5 Bank counters – to be added at 30 Pyaterochka stores in Moscow over the next month – will also be able to issue cards.

The X5 Bank project will be carried out by an independent company, whose founders include X5 Group and Alfa Bank.

Users can replenish their X5 Card through any of three mobile apps – Perekrestok, Pyaterochka and Alfa Bank – without fees, at the ATMs of any bank in the Russian Federation or through the Faster Payments System. X5 Card users will be able to receive cashback of up to 2% on purchases as well as up to 8% annual interest on their balance. More information about applicable fees can be found on the website.

“X5’s strategy calls for a presence at every stage of the customer journey, which is why we launched X5 Bank. We are the first to launch one of the most highly sought-after banking products – a debit card that combines both loyalty points and banking functionality. This is the sort of business that will enable us to be even closer to our customers and to offer convenient new possibilities for the customer,” said Igor Shekhterman, CEO of X5 Group.

The X5 Card is issued free of charge and has no maintenance fee. As the product line develops, X5 Bank plans to offer other payment services under its own brand.

[1] St Petersburg, Kazan, Ekaterinburg, Rostov-on-Don, Nizhny Novgorod, Samara, Chelyabinsk, Ufa, Perm, Voronezh

[2] St Petersburg, Kazan, Ekaterinburg, Rostov-on-Don, Nizhny Novgorod, Samara, Chelyabinsk, Ufa, Perm, Voronezh, Novosibirsk, Omsk, Krasnoyarsk