OREANDA-NEWS. On 02 June 2009 was announced, that TransCreditBank’s top executives presented the Bank’s IFRS 2008 financial statements and Q1 pro forma figures in the Main Office of the Bank.

During the meeting President of the Bank Sergey Pushkin and members of the Executive Board provided detailed answers to questions of top Russian financial analysts, reporters from business mass media and news agencies regarding fulfillment of the Bank’s financial and business plan, as well as its goals for 2009.

Consolidated IFRS statements audited by Ernst and Young Vneshaudit point to successful development of TransCReditBank’s Group in financial and economic crisis environment.  Indeed, as per preliminary estimates in Q1 the Bank generated RUR697 mln of net profit, approximately 40% up y-o-y.  The net profit target for 2009 is RUR3.1 bn which is close to 2008 performance.  TransCreditBank’s Executives elaborated on the plans for development of the customer base and regional expansion by consolidation of four subsidiary banks under a single brand.