OREANDA-NEWS  On 10 November was announced, that TransCreditBank took a RUR 1bln 10 years’ subordinated deposit from “Well-being” Non-government Pension Fund.

NGPF “Well-being” holds a nearly 20% equity interest in TransCreditBank which makes it the second largest shareholder in the Bank after JSC RZhD.

The subordinated deposit will be taken into account for the purpose of calculation of the shareholders’ equity which amounted to RUR19.5bn (USD 770mln) as of October 1, 2008.  Besides, in accordance with the Federal Law, dated 13.10.2008, #173-FZ “On Additional Measures to Support the Financial System of RF” TransCreditBank will have an opportunity, if need be, to take  a RUR1bn subordinated deposit from Vnesheconombank.

Boosting the shareholders’ equity is a priority of TransCreditBank which will allow it to implement its development plans notwithstanding turbulent market environment.