OREANDA-NEWS. October 5, 2012. JSC VTB Bank increased its stake in TransCreditBank to 99.6% from 77.8% by purchasing shares held by JSC “Russian Railways”.

This followed VTB Group’s Management Committee approval of the integration plan in August 2011. The plan was developed in compliance with the shareholder agreement between VTB Bank and the Russian Railways. According to the plan, TCB will be fully integrated into the VTB Group in 2013.

JSC "TransCreditBank" (www.tcb.ru), established in November 1992, is a top-15 Russian bank by assets. The Bank provides a full range of banking services to its corporate and retail clients. The Bank’s extensive network of 285 offices covers over 190 cities and communities across Russia. The Bank has the following credit ratings: BBB-/A-3 (outlook: Stable) from Standard & Poor’s and Baa3/Prime-3 (outlook: Stable) from Moody’s. TransCreditBank’s total assets were RUB 494.2 billion (approx. USD 15.1 billion) as at June 30, 2012, gross loan portfolio was RUB 377.8 billion (USD 11.5 billion), amounts due to customers were RUB 333.1 billion (USD 10.1 billion), shareholders’ equity was RUB 48.8 billion (USD 1.5 billion). TransCreditBank’s profit for 6M:2012 was RUB 5.2 billion (approx. USD 159.6 million).