Financial indicators for year-start 2010 show the Bank’s total corporate lending portfolio tipping the scales at Rb 35.7 bn
As of January 1, 2010 Uniastrum’s LME loan portfolio totaled Rb 31.1 bn, with Rb 20 bn and Rb 11.1 bn falling to Moscow and the regions, respectively. The lender’s SB portfolio topped Rb 4.6 bn as of the same date.
In 2009 the Bank issued a total Rb 31.7 bn in corporate credit, Rb 16.4 of which was given out in Moscow, Rb 15.3 bn in the regions. Over the same period loans extended to large and mid-sized business amounted to Rb 27.8 bn, while those to small enterprise totaled Rb 3.9 bn. Overall corporate credits in H209 doubled on the year-earlier result, with more than Rb 21 bn issued between July 2009 and year-start 2010.
In the view of Uniastrum analysts, September 2009 marked the start of a sustained uptrend in demand for business loans, resulting in healthy incremental growth for the Bank’s lending portfolio. As of January 1, 2009 Uniastrum’s overall corporate credit portfolio weighed in at around Rb 21.8 bn, an upturn of about 64%, with loans to mid-sized enterprises amounting to Rb 19.7 bn (up 60%) and those to small business equaling Rb 2.1 bn (up over 100%).
Particularly popular among Uniastrum’s corporate clients is the Bank’s U-Super prime lending option, whose most attractive feature is its market-beating interest rates, which start at 13.7% APR for ruble-denominated loans and at 10.7% APR for loans issued in foreign currency. The minimum loan amount is Rb 30 mn or the foreign-currency equivalent.
Over 2009 Uniastrum devised and offered its corporate clients over 10 new credit products specially tailored to take account of the changing economic landscape and new business trends. Today, for example, small businesses are showing a marked preference for the Bank’s U-Prime loan scheme, which enables them to take out between Rb 5 mn and Rb 20 bn for up to 10 years depending on the loan purpose at interest rates upward of 17.7% APR, or 14% APR in the case of foreign-currency credits.
“Uniastrum Bank remains committed to its avowed rollout strategy and is steadily and surely expanding its credit portfolio,” says Pavel Neumyvakin, Chairman of Uniastrum’s Management Board. “All the plans we mapped out late last year for 2009 have already been successfully implemented. Going forward, we aim to push ahead with business expansion at an even faster pace.”
For more information call or write Olga Kurganova:
744 04 04, ext. 1066
kurganova@uniastrum.com