New data released by RosBusinessConsulting show that the Bank was the country’s 8th biggest disburser of auto loans in 2009. Even though last year saw the auto finance market take a turn for the worse, Uniastrum bucked the general trend, jumping 9 places in the rankings on 2008
In 2009 Uniastrum Bank issued more than 6,500 auto loans amounting in total to Rb 3.5 bn. As of year-start 2010, the lender’s auto finance portfolio tipped the scales at Rb 6.8 bn, up 17% on the prior-year result, making Uniastrum the 10th biggest auto lender by portfolio size. The Bank currently commands 3% of the Russian auto loans market.
This year will see Uniastrum press ahead with plans to launch a series of new partnership programs with auto manufacturers and major dealers, continue to expand its main sales channel via official dealers and multi-brand holdings, and play an active role in the government’s loan program. So far this year the Bank has already initiated a number of new auto finance schemes: Uni-Mir and Uni-Mir 1 in partnership with the Avtomir Group, and Uni Independence and Uni Independence 1 with the Nezavisimost Group, as well as a universal auto loan program called Uni 1.1.
Uniastrum offers a wide choice of auto loan options that have been carefully crafted to suit borrowers’ different budgets and preferences. The loans can be used to buy new or second-hand vehicles of Russian or foreign manufacture, and the application process involves minimum paperwork and formalities, including a flexible approach to proof of earnings – either an official individual income tax statement or a signed form provided by the Bank. Earnings from a second job, leased property, bonuses and dividends can also qualify as additional income, as can a spouse’s earnings when calculating the maximum loan amount. Borrowers can opt for settlement as early as the second day at no extra charge. Once submitted, a properly completed loan application is processed within a single business day and clients have up to 91 days to access the money. Lending rates are also customer-friendly, beginning at 12% APR for ruble-denominated loans, depending on the facility in question and the terms and conditions.
Auto credits can be applied for on line at any time, simply by clicking on http://auto.uniastrum.ru/request. Also, clients who apply via the Bank’s website enjoy a number of special terms and benefits.
“The auto finance market continued to go from strength to strength for a good 5-6 years, even to the point where it outpaced growth in car sales. The situation cooled considerably in the second half of 2008 and early 2009 for a several reasons,” notes Maxim Matanov, Head of Uniastrum’s Auto Lending Division. “Be that as it may, Uniastrum Bank has managed to improve its ranking. In 2010 we aim to more than double the number of auto loans we give out, which means a bigger portfolio and an even higher rating.”
For more information call or write Olga Kurganova:
744 04 04, ext. 1066
kurganova@uniastrum.com