By Ivan Anderzhanov
Russia's second largest lender VTB is attempting to acquire TransCreditBank in a bid to expand its share of corporate and retails clients.
TransCreditBank, a subsidiary of the Russian Railways monopoly, has about $10bn in assets, which is about 9% of VTB's assets. The bank serves corporate and retail clients through 300 branches in Russian regions.
Andrei Kostin, VTB's chief executive, said last week the bank is not interested in purchasing non-controlling stakes in small Russian banks.
TransCreditBank recently launched a full service investment bank to work in equity, debt, derivatives, corporate finance and m&a, as reported by EmergingMarkets.me.
The new group called TKB Capital would be hovered up by VTB's own fast-expanding investment bank VTB Capital. Perhaps a merged entity will be dubbed VTB TBK Capital. Kind of rolls of the tongue after a drop of Stoli.
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