OREANDA-NEWS  On 10 October was announced, that based on the Russian Accounting Standards, TransCreditBank’s Q1-3 financial statements reflect a vigorous growth of the Bank’s business:

The Bank’s net assets increased to 176.6 bn. rubles (USD 7 bn.), registering a 1.7-fold growth year on year (from 100.3 bn. rubles);

Its equity increased to 19.5 bn. rubles (USD 770 mn.) or 1.6-fold year on year (from 12.0 bn. rubles).

The Bank’s main business is lending to corporate and retail clients. As of October 1, 2008, the Bank’s total loan portfolio was more than USD 137.7 bn. rubles (USD 5.4 bn.) or 1.9-fold higher on a year-on-year basis (72.7 bn. rubles on October 1, 2007).  The volume of retail loans rose considerably to 48,6 bn. rubles or USD 1.9 bn. (year-on-year growth of 65 %).

The volume of the client’s deposits with the Bank is more than 126.9 bn. rubles (USD 5 bn.); this figure grew 1.8-fold year on year.

In January through September of 2008 the Bank generated a net income of 1.2 bn. rubles (US45.7 mn.).

According to OAO TransCreditBank President S.N.Pushkin, “TransCreditBank’s continued favorable development dynamics  in the midst of the crisis on the financial markets is due its sustainable business structure and a priority on servicing the real-sector enterprises and employees, primarily those employed in the transportation sector. Though the Bank is not immune to the generally unfavorable trends, but this impact does not hit the Bank as hard as it hits other market players.”