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TransCreditBank: bank achievements, merger with VTB group

2016-07-25

TransCreditBank (TKB) was founded at the end of 1992 as an open joint stock company. The financial institution was one of the largest commercial banks in the Russian Federation with its own portfolio of 54.60 billion rubles (2012). In the fall of 2013, TransCreditBank ceased operations as an independent financial unit and entered the VTB Group.

 

Historical facts and financial position of the bank

The initiators of the creation of the TKB were the largest industrial and metallurgical groups of the Russian Federation. Since 1999, the bank was under the control of the Ministry of Railways of the Russian Federation, and after 4 years it became the property (74.9% of assets) of the Ministry of Property Relations of the Russian Federation. Since 2007, on the basis of a Presidential Decree, part of the funds that were owned by the state were transferred to the statutory fund of the Russian Railways Open Joint Stock Company.

Since the formation of the financial structure and the receipt of permission from the Central Bank of the Russian Federation under No. 2142 to carry out banking activities, TransCreditBank has occupied a leading position for several years and until the moment of its absorption by the VTB Group, in terms of assets, it was included in the TOP-15 largest banks in the Russian Federation. As of the first quarter of 2012, the banks authorized capital exceeded 2.6 billion rubles. Net profit in 2012 according to IFRS amounted to 14.2 billion rubles. The number of employees is 7 thousand people.

The main vector of the banks work was cooperation with companies operating in the transport industry, as well as related areas. The list of clients and partners included large trading companies, energy and mining companies, major industrial groups, infrastructure enterprises. Also, the services of "TransCreditBank" were in demand among representatives of small and medium-sized businesses. In total, the number of companies that the bank served in various segments of the economy and business exceeded 35,000.

In addition to high indicators in terms of the volume of the loan portfolio, the bank demonstrated one of the best results in acquiring customer service in the retail sector.

At the time of the takeover by the VTB financial group, the bank had an extensive network of regional representative offices, the number of which amounted to 276 branches in almost 200 cities and towns of the Russian Federation. The number of ATMs - 2,500, terminals - 6,100 (2013). The bank ranked fifth in servicing corporate salary projects. Thus, more than 2 million Russians have used salary and other cards of TransCreditBank.

Moodys Investors Service and Standard & Poors analytical agency have assigned a stable credit rating to TKB bank.


Merger with VTB

The takeover of PJSC TransCreditBank by VTB Bank began in 2011, when the financial group completed the redemption of the bulk of its securities - 29.4%. The following year, VTB Group acquired a 21.8% stake in TransCreditBank from PJSC Russian Railways, which allowed it to increase its stake in securities to 99.6%.

In the same year, the merger of the two structures was announced, as a result of which business services were transferred under the jurisdiction of VTB, and individuals - VTB24. Officially, the services of "TransCreditBank" became invalid on November 1, 2013: after the signing of the agreement. In fact, the brand disappeared, however, branches, ATMs and terminals continued their work in the traditional mode.

Bank owners

Currently, VTB Bank owns 99.59% of TransCreditBanks securities. 0.072% of shares are owned by VTB24, and legal and physical shareholders - 0.33%.

After the merger of banks under the management of VTB Group, all corporate clients, the number of which exceeded 35 thousand, automatically switched to the new financial structure. Since one of the main corporate clients of TransCreditBank was the Russian Railways company, VTB24 is in charge of servicing them. More than one million railway workers received bank cards from TransCreditBank within the framework of salary projects. The list of clients included 16 divisions of Russian Railways throughout the Russian Federation.

 

Salary project and new products for railway workers

In 2015, a new tender was held to service the salary project for Russian Railways. VTB Banks subsidiary VTB24 became the winner of the competition. The bank promises more opportunities, which are to provide new products. For example, new credit programs have been developed, which are formed taking into account the income level of each employee of the railway. Within the framework of projects, special packages have been created, ranging from classic or universal products to premium services. Simplification of credit programs, as well as the possibility of modern remote customer service, guarantee the highest service, which is one step higher than the services of "TransCreditBank" in 2012. Today VTB24 offers to use more than 14 thousand ATMs in the territory, as well as 1,050 branches and customer service points.

 

VTB Group

Currently, VTB, the largest financial group, includes about 20 large companies that operate in all vectors of the financial market. Even before VTB acquired TransCreditBank, its structure was based on the formation of a holding that adheres to a single development strategy. The brand offers all types of insurance, investment programs, savings deposits for clients of any level.

After the purchase of TKB securities, the corporate network of VTB Group became even wider, given that TransCreditBanks services were in great demand among business and private clients.

VTB network is also actively expanding on the international market. Today, banks and service companies of the holding operate in the territory of the neighboring countries. The financial institutions banks provide services to European clients in France, Germany and Austria. Also, a number of VTB Group banks in an associated structure operate in England, Cyprus and some Asian countries.