Organizers of Europlan's IPO valued the company at ₽140 billion, told RBC's sources. Company was valued on the basis of P/E multiple of 8-10. High valuation was explained by the fact that Europlan has a significant share of non-interest income, as well as a low cost of risk at 0.5%, which is much lower than that of the traded banks. At the same time, the leasing company's average return on equity over 5 years is above 40%.