TransCreditBank Produces Its Interim RAS Statements

TransCreditBank’s RAS statements for the first half of 2008 point to rapid development of the Bank’s business:

- In the first 2 quarters of 2008 TransCreditBank’s net assets increased to RUR156.3 bn (US$6.7 bn) which is 31% up from the January 1, 2008 figure;

- Shareholders’ equity increased to RUR15.3 bn (US$654.8 mln) or by 16%.

The Bank generated RUR1.3 bn (US$56.8 mln) of net profits.

Lending to corporate and retail customers was the main area of the Bank’s active operations. As of July 1, 2008 TransCreditBank’s loan portfolio exceeded RUR123.8 bn (US$5.3 bn) 1.5 times up from the January 1, 2008 figure. Notably, retail loans stand at RUR42.2 bn or US$1.8 bn (21% growth vs. the opening figure of the period).

Customers’ deposits with the Bank amount to RUR104.3 bn (US$4.5 bn) registering a 36% increase over 6 months.

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