TransCreditBank Increases its Capital by RUR2 bn

TransCreditBank received from Non-government Pension Fund Blagosostoyanie a RUR2 bn deposit for 10.5 years.

With a 19.95% equity stake NGPF Blagosostoyanie is the second largest shareholder in JSC TransCreditBank after JSC RZhD. Given that terms and conditions of the term deposit agreement made by and between the Bank and NGPF Blagosostoyanie comply with requirements of para 3.5 of the Regulation of the Bank of Russia, dated 10.02.2003, #215-P “On Methods of Assessment of Equity (Capital) of Credit Institutions”, this funding will be included into calculation of TransCreditBank’s equity, which will amount to RUR 24.3 bn (pro forma) as of February 1, 2009.

Besides, pursuant to the Federal Law, dated 13.10.2008, #173-FZ “On Additional Measurers of Support for the Financial System of the Russian Federation”, TransCreditBank will be able to raise a subordinated facility from Vnesheconombank.

Increase of capital is a priority of TransCreditBank which would allow the Bank to implement its business development objectives in the current volatile environment of financial markets.

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