MOSCOW, January 16 (RIA Novosti) - TransCreditBank (RTS: TKBK) saw its asset value rise by 50.16 % year-on-year to 121.784 billion rubles ($4.59 billion) in 2006, the Russian state-controlled bank said Tuesday.
A bank news release said the growth was mainly due to "a syndicated credit from Western banks and expansion of the client base, and of their deposits."
Set up in November 1992 as a financial arm of Russian Railways (RZD), 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.
