OREANDA-NEWS. February 29, 2012. The Board of Directors of TransCreditBank at its meeting, accepted resignation of Mr. Yuri Novozhilov from his positions as President of TransCreditBank and Chairman of the Management Board effective February 21, 2012, upon agreement of the parties. Mr. Novozhilov served TransCreditBank’s President and Chairman of the Management Board from October 2009.

The Board of Directors approved the nomination of Mr. Alexey Krokhin, the current First Vice President of the Bank, as President and Chairman of the Management Board. Mr. Krokhin will assume his new positions once his candidacy is approved by the Bank of Russia’s Moscow Territorial Administration.

In the meantime the Board appointed Mr. Krokhin as acting President and Chairman of the Management Board of the Bank.

Mr. Krokhin joined TransCreditBank as an Advisor to the President in 2002. He was appointed Senior Vice President later that year and First Vice President in 2004. Mr. Krokhin has served on the Management Board since 2002. He has supervised Corporate Banking.