RIA NOVOSTI. Transcreditbank, the backbone lending institution of Russian Railways Co., has taken over four regional banks: Inter-Regional Transport Commercial Bank (Rostov-on-Don), Bank Yugo-Vostok (Voronezh), Chita Industrial Construction Bank (Chita) and Superbank (Blagoveshchensk), RIA Novosti reported quoting the PR department of the Bank of Russia.
Previously Transcreditbank’s EGM decided to reorganize the lender through the takeover of four commercial banks through the upsizing of the charter capital by Rub 28.3 mln by issuing additional shares with Rub 1.00 par value each. The lending institution’s additional shares were floated by means of conversion of the grabbed banks’ securities. Prior to the SPO the lending institution’s charter capital stood at Rub 2.3 bln.
Entries were made in the Book for State Registration of Lending Institutions on December 23, 2009 to halt operations of said regional banks, CBR noted in a press release.
