On December 27, 2013 VTB Factoring attached TransCreditFactoring. The decision on reorganization of VTB Faktoring LLC in the form of accession of TransCreditFactoring LLC to it was approved by the Supervisory board of JSC Bank VTB which meeting took place on December 20, 2013.
The transaction is implemented within process of integration of business of Transcreditbank into VTB Group. Process of merge took place in two stages. At the first stage preparatory work within which the command of VTB Factoring estimated results of activity TransCreditFactoring, efficiency of the main business processes of the company, work of personnel, the available product line and the used IT solutions was carried out. During the second stage operating managerial supervision over TransCreditFactoring from VTB was set Factoring, the customer base is worked out, the quality of a factoring portfolio and compliance of personnel to an organization structure of the united company is defined. For the purpose of accession, TransCreditFactoring Ltd was transformed to TransCreditFactoring LLC, besides expense optimization and also standardization of business processes according to requirements of VTB Group was performed.