Newly released ratings coverage shows the Bank placing sixth by portfolio size and total loans issued to small and midsized businesses.
RBC news agency figures reveal that as of year-start 2010 Uniastrum Bank issued a total Rb 26.5 bn to Russia’s small and midsized business community, nudging up its overall SME portfolio to Rb 31.8 bn, with loans extended to small enterprises amounting to over RB 4.6 bn, up more than 100% on the year-earlier showing of Rb 2.1 bn.
Lending to small and midsized enterprises remains a core component of Uniastrum’s business mix. Moreover, the Bank plans to more than double the amount of credit it advances to SB outfits in 2010. Uniastrum continues to make a notable contribution to the development of Russian enterprise via its active partnerships with regional administrations and various foundations, as well as through bank products specially designed to appeal to SME. This month the lender is set to launch a Russia-wide loan program offering easy borrower terms that won’t put a strain on SME budgets.
One of Uniastrum’s most popular SB loan options is its U-Prime initiative, not least because of its competitive, customer-friendly payment conditions, under which anywhere between Rb 1 mn and Rb 20 mn (or the dollar/euro equivalent) can be borrowed for up to 10 years. Without doubt, the program’s most attractive features are its generous repayment period, which makes for convenient and affordable monthly installments, as well as the cut-price interest rates for borrowers who prefer their loans in dollars or euros. Since March 1, rates for new U-Prime credits begin at 15% APR for ruble-denominated facilities, while those in dollars or euros are upwards of 10.5%. Arrangement fees start at 2%.
“2010 will see us offering even better deals to SME borrowers,” says Uniastrum Bank President Gagik Zakaryan. “This means first and foremost cutting loan application times, but also a new range of interesting initiatives carefully crafted to help small businesses.”
For more information call or write Olga Kurganova:
744 04 04, ext. 1066
kurganova@uniastrum.com