PRIME-TASS. Net profit generated by Metracombank, based in Rostov-
The lending institution attributes a spike in net profit to higher earnings from cash settlement services provided to corporate and private clients, and also an increase in income derived from FX activities and taking into account operations carried out after the reporting date.
Given data at the Chief Directorate of the Central Bank of the Russian Federation in the Rostov region, as of January 1, 2009 the lender’s assets totaled Rub 6.4 bln, including credit investments for a total of Rub 3.3 bln, equity equaling Rub 562.7 mln, with Rub 3.2 bln falling to credits, deposits and other raised funds, including Rub 1.2 bln of private deposits. In terms of 2008 balance sheet profit (Rub 136.57 mln), the lending institution ranked third among 23 regional banks in the Rostov region. The lender planned to allocate Rub 732,000.00 to preferred dividends for 2007.
As the news agency wired earlier, Metracombank’s October 22, 2008 EGM decided to reorganize the bank by folding it into Transcreditbank, approved an agreement on the takeover of Metracombank, Bank South-East, Chitapromstroybank, Superbank by Transcreditbank, and also an act of assignment relating to Metracombank. The lending institution will become a branch of Transcreditbank after the takeover.
The company was incorporated in August 1992 as a sector-oriented bank to offer services to North Caucasus Railway Company and businesses affiliated with the Russian Ministry of Railway. In 2000 as a subsidiary financial institution the bank entered Transcreditbank Group, became a member of the unified Transcreditbank-led settlement system of Russian Railways Company in 2002. Transcreditbank’s equity stake in Metracombank equals 76.43%. The lender’s charter capital is Rub 130 mln.
