Uniastrum upsizes charter capital Rb 1.3 bn

As of March 10, the Bank’s charter capital totals Rb 5.1 bn, with equity capital standing at Rb 8.7 bn.

Going forward, the uptick in Uniastrum’s charter capital is imperative for bigger business growth and for moving ahead with plans to expand the overall loan portfolio more than 50% in 2010. The increase is the result of an additional contribution by the shareholder paid in foreign currency totaling $50 mn (Rb 1.3 bn). Accordingly, the Bank’s equity capital now equals Rb 8.7 bn.

As of year-start January 1, 2010, Uniastrum’s overall loan portfolio weighed in at Rb 55.1 bn. In 2009 the lender’s total assets soared 56% to around Rb 140 bn.

“Our plan is to ramp up our total lending portfolio by over Rb 30 bn throughout 2010,” says Pavel Neumyvakin, Chairman of Uniastrum’s Management Board. “This is something we aim to achieve by increasing lending in the corporate and retail segments. This translates into boosting the amount of credit disbursed in these particular areas 1.5 – 2-fold. Upsizing charter capital is part and parcel of the Bank’s development strategy, which is geared toward lifting business volumes in every region where we have a presence.”

For more information call or write Olga Kurganova:

744 04 04, ext. 1066

kurganova@uniastrum.com

www.uniastrum.ru