Drafted to RAS, the Bank’s book profit for FY09 totaled Rb 87 mn
“The year was by no means an easy one, but Uniastrum managed to achieve positive financials nonetheless, thanks to an upturn in business volumes and the unquestionably high quality of its loan portfolio. Also fundamental to its success were the Bank’s cogent policies geared toward optimizing the performance of each and every one of its business units,” says Pavel Neumyvakin, Chairman of Uniastrum’s Management Board.
In 2009 Uniastrum Bank’s total assets climbed 56% to Rb 140 bn. Meantime, equity capital increased to Rb 74 bn as of January 1, 2010.
In the reporting period, incremental growth of the Bank’s corporate lending portfolio totaled 64%, while overall retail loans improved 69%. At the same time, household and business deposits grew 20% and 14%, respectively. In 2010 Uniastrum projects its business volumes to expand around 50%. With a view to achieving this target, in late 2009 the Bank of Cyprus Group approved a $50 mn increase in Uniastrum’s charter capital, scheduled to be registered with the Bank of Russia in Q110.
For more information call or write Olga Kurganova:
744 04 04, ext. 1066
kurganova@uniastrum.com