HELLERUP, Denmark, June 25, 2012 /PRNewswire/ --

Saxo Bank, the trading and investment specialist, will stay with Riis Cycling in 2013. In 2012 Saxo Bank has been the sole title sponsor of the professional cycling team. But from this year's Tour de France throughout 2012 and 2013, Tinkoff Bank (also known as Tinkoff Credit Systems), the only Russian online bank, has decided to partner with Riis Cycling, and the three partners have agreed for Tinkoff Bank to become Co-Title sponsor.

Team owner Bjarne Riis says:

"This is indeed a great day and a proud moment for our cycling team, and I believe we now have a very strong setup for the future development of Riis Cycling and our team."

"To continue with Saxo Bank as a main sponsor shows in words and action that together we have been able to build an extremely strong partnership based on the obvious benefits for both of us over the past five years. Today, to also be able to announce and warmly welcome Tinkoff Bank on board makes me even more proud. I'm honored to partner with two such highly professional and dedicated companies, who share a great passion for cycling, but also see commercial benefits in sponsoring our team."  

In a joint statement, Kim Fournais and Lars Seier Christensen, co-CEO and co-founders of Saxo Bank, say:

"It's been important for Saxo Bank to share the sponsorship with a dedicated partner in 2013 and we are very happy that Tinkoff Bank is now our new Co-Title sponsor. This has made the decision to - once again - extend our sponsorship for another year simple. Saxo Bank has always believed it was a sound commercial decision to support this team and Oleg Tinkov has shared this view based on both his long term experience in cycling and as a great entrepreneur and successful business man. Bjarne Riis and his riders remain a huge inspiration and motivation for many young talents, and while Saxo Bank would like to support that, this sponsorship also gives its sponsors exposure all year long in markets that are vitally important to our business. For five years this sponsorship has proven a good investment and together with Tinkoff Bank, Saxo Bank is looking forward to celebrating great triumphs with Bjarne Riis and his team in 2012 and 2013."

Owner of Tinkoff Bank, Oleg Tinkov, says:

"We are proud to return to cycling and to be sponsoring this team and Bjarne Riis who is without a doubt the best manager in the cycling world. And we are delighted to be joining our co-sponsor Saxo Bank, one of the most highly regarded businesses in the world of online banking, and an excellent strategic fit for us - as a cutting edge, online bank ourselves that is leading the field in Russia. There are lots of synergies between Tinkoff Bank and Saxo Bank. We think that we have a similar DNA and are excited about working together and with the team."

Going forward the name of the cycling team will be "Team Saxo Bank-Tinkoff Bank".

About Saxo Bank:

A fully licensed and regulated European bank, Saxo Bank has been a title sponsor of Riis Cycling A/S since 2008. Saxo Bank is a leading online trading and investment specialist that enables private investors and institutional clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives via three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application available in over 20 languages. Saxo Bank also offers professional portfolio and fund management through Saxo Asset Management who accommodates high-net worth private clients and institutional investors and provides banking services and advice to retail clients through Saxo Privatbank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East, Latin America and Australia.

About Tinkoff Bank (Tinkoff Credit Systems):

Tinkoff Bank is Russia's first online bank specializing in issuing and servicing credit cards. It is one of Russia's fastest-growing businesses in the Internet space, having issued more than 2 million credit cards to clients throughout Russia since launching commercial operations in 2007. Tinkoff Bank has a strong focus on credit quality and has brought innovation to Russia in how it verifies the creditworthiness of its borrowers. The bank was founded by Oleg Tinkov, a renowned Russian entrepreneur who has previously launched successful businesses in sectors from frozen food to beer. Oleg Tinkov retains a majority stake. Other shareholders are Goldman Sachs, Vostok Nafta Investments Limited and Baring Vostok Private Equity Fund IV.

SOURCE Saxo Bank