OREANDA-NEWS. July 05, 2007. The financial plan provides the basis for TransCreditBank’s development strategy in the medium term and lays out the main financial and commercial parameters for the next three years until 1 January 2011, reported the press-centre of Russian Railways.

The plan was prepared in collaboration with the international consulting company Deloitte & Touche contains forecasts for the Bank’s main financial figures going forward, the development of assets and liabilities, operating figures and efficiency. An analysis of liquidity and the structure of income and expenditures was also carried out.

The financial plan reflects the strategy for dynamic development which was put in place after the Bank completed the transfer to Russian Railways of 75% of its shares, which belonged to the state.

The 2007 financial results are expected to show total assets of the TransCreditBank bank group at 105 billion rubles. By the end of 2010, this figure is expected to increase to 428,5 billion rubles, while net profit is planned to increase from 2,3 billion rubles in 2007 to 6,8 billion rubles in 2010.

Commenting on the adoption of the financial plan, S. N. Pushkin, the president of TransCreditBank, noted that it “reflects our basic task becoming one of the 10-15 largest credit organizations in Russia over the next 3-4 years. Our IPO on Russian and international stock markets planned for 2009 will contribute to achieving this goal.”