OREANDA-NEWS. On 18 July 2008 was announced, that the Bank of Russia registered a report on results of TransCreditBank's additional stock issue for the nominal value amount of RUR600 mln.

The additional issue consists of 600,000,000 common shares issued as entries to account with the nominal value of RUR1 per share (at the offering price of RUR8).  The issue was placed by closed subscription to Non-profit Organization "Non-Government Pension Fund "Blagosostoyanie".  The issue was assigned individual state registration number 10102142В007D.

Following the additional stock issue TransCreditBank's authorized share capital reached RUR2.2584bn. Bank's tier 1 capital increased by RUR4.8bn and now exceeds RUR14.0bn, while its total capital amounts to RUR19.7 bn.

After registration of the additional stock issue JSC Russian Railways with nearly 55% shareholding interest remains the largest shareholder of the Bank.  Non-government Pension Fund "Blagosostiyanie" became a new and the second largest shareholder of the Bank with 20% stake.

Sergey Pushkin, President of JSC TransCreditBank:  Increase of equity became the most important pre-condition for implementation of TransCreditBank’s ambitious development projects which previously have been constrained by its inadequate level of capitalization.