This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

TRUST Bank Forecasts Profits Of RUB1-1.5bn, A 20% Increase In Loans And A Bond Issue For 2013

MOSCOW, August 28, 2013 /PRNewswire/ --

TRUST Bank (TRUST), the Russian bank whose products are advertised by the Die Hard star Bruce Willis, plans to open 50 additional branches this year, and expects net profit for 2013 to reach between RUB 1-1.5bn. In an interview with RIA-Novosti, the Russian news service, Bank Chairman Fedor Pospelov talked about TRUST ' s plans for expansion and investment, its strategies regarding capital and risk and plans to issue bonds.

     (Logo: ) In 2012, TRUST opened 300 mini branches which allowed the bank to double its footprint and delivered a 20% increase in sales.  In 2013, TRUST expects to open about 50 fully operational branches, targeting cities with populations between 30,000 and 200,000 and where they currently have no presence.

Mr Pospelov said, " We understand that there is no potential to substantially increase the numbers of quality borrowers in areas where we already have presence, not unless we want to weaken our risk policy (and this is not something we wish to do). This is why one should spread geographically, find new cities and find new clients there " . He forecasts that this year TRUST will see 20% increase in its loan portfolio. As for the Bank's priority credit card portfolio, it doubled in size to RUB11bn in 2012 and is expected to double again to RUB20bn in 2013.   Taking into consideration the significant growth of these sections as well as the active development of its corporate sales channel and the opening of new branches, Mr Pospelov said that he expects TRUST to deliver net profits of RUB1-1.5bn in 2013.   In the interview, Mr Pospelov revealed that TRUST intends to issue bonds in 2013 to strengthen the Bank's capital, and is currently discussing terms with the Russian Central Bank. Finally, when commenting on the Bruce Wills advertising campaign, Mr Pospelov said, " Without a doubt, every dollar spent on the advertising campaign with the Die Hard star has seen a significant return on our investment, and last year TRUST was voted the third most recognized bank by Russian consumers. " A full transcript of the interview is available at    

National Bank TRUST

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs