OREANDA-NEWS. On 21 January 2009 was announced, that TransCreditBank’s 2008 financial statements produced in accordance with the Russian Accounting Standards point to rapid development of its business:

- The Bank generated a net profit of RUR3.4 bn (USD 5.7 mln) vs. RUR2.5 bn in 2007, registering a 37% y-o-y increase;

- In 2008 net assets of the Bank increased to RUR235.3 bn (USD 8 bn) doubling the closing figure of 2007 (RUR118.5 bn);

- Shareholders’ equity grew 1.8 times from RUR12.5 bn (as of 01.01.2008) to RUR22.3 bn (USD 757 mln).

Last year retail and corporate lending represented the main area of the Bank’s active operations.  As of January 1, 2009 TransCreditBank had on its books RUR133.3 bn (USD 4.5 bn) of loans increasing its portfolio 1.6 times from RUR81.8 bn as of 01.01.2008.  Notably, retail loans amounted to RUR52.1 bn or USD 1.8 bn (1.5 times y-o-y increase).

Over the 12 months’ period customers’ funds on accounts with the Bank doubled to more than RUR151,2 bn (USD 5.2 bn).