MOSCOW, January 25 (RIA Novosti) -- TransCreditBank [RTS: TKBK], the bank of the state-owned Russian Railways monopoly, increased its net assets by 43% to $2.7 billion last year.
The bank's profit balance was $106 million as of January 1, 2007, which is 2.8 times more than in 2005. The bank's equity capital reached $272 million, marking nearly 50% growth.
Investment rose by 44% to $2.2 billion. The bank issued 50% more loans, which totaled $2 billion as of January 1 this year.
Set up in November 1992 as a financial arm of Russian Railways, TransCreditBank is ranked by the Central Bank among the nation's top 30 banks in terms of assets. The State Property Agency holds a 74.99% stake.
