OREANDA-NEWS. April 20, 2010. According to TransCreditBank’s unconsolidated financial statements under RAS for the 1st quarter 2010 ended April 1:

- the Bank’s net assets grew by 36% to RUB 286.3 billion (USD 9.7 billion) in the past 12 months, from RUB 210 billion as at April 1, 2009;

- total capital increased by 37% to RUB 34.9 billion (USD 1.2 billion) in the past 12 months;

- net income for the 1st quarter 2010 amounted to over RUB 1 billion (USD 35.3 million).

A significant asset growth was mainly due to the completed merger of four subsidiaries, transformed into the Bank’s branches, as well as an increase in customer funding, which allowed the Bank to grow its securities portfolio and loan book.

Customer deposits grew 1.7 times to RUB 233.4 billion (USD 7.9 billion) in the 12 months from April 1, 2009, following the network expansion and the merger, as well as an increased service offer. The client base expanded to about 3 million retail clients and 50 thousand corporations. 

Available funds were primarily used to expand lending to corporate clients, representing all business sectors. Loans to both corporate and retail customers increased by 22% to RUB 164.8 billion (USD 5.6 billion) from RUB 135.3 billion as at April 1, 2009.  Retail loans amounted to RUB 53.6 billion (USD 1.8 billion), up by 9% in the past 12 months.