VTB 24 has begun its reorganization by taking over Transcreditbank, The Bank of Russia’s PR department reported.

As previously reported, this fall the Transcreditbank brand should cease to exist, and as a result of integration retail activities will be folded into VTB 24. While taking over Transcreditbank VTB 24 will raise its charter capital by 46.4% from Rub 50.8 bln to Rub 74.4 bln.