In line with its rollout strategy and the strengthening of business ties between Russia and Cyprus, Uniastrum Bank, member of the Bank of Cyprus Group, sponsored the Russia-Cyprus Business Forum held in Nicosia as part of the official visit to the Republic of Cyprus by Russian President Dmitri Medvedev.
The forum was timed to coincide with the 50th anniversary of Cypriot independence and the visit od Dmitri Medvedev to Cyprus. The forum was in fact addressed by both Russian President Dmitri Medvedev and President of the Republic of Cyprus Demetris Christofias.
The forum brought together around 500 members of the Russian and Cypriot business communities and covered a wide range of issues on strengthening trade and economic collaboration between the two countries, going forward. Particular attention was accorded to the issue of extending interaction in the sphere of mutual investment.
The forum was attended by Uniastrum Bank President Gagik Zakaryan, who said he believed the Russia-Cyprus Forum had an important part to play in the economic lives of the two countries. “The business forum has become an effective platform for addressing important matters pertaining to trade and economic cooperation between Russia and Cyprus. It is a great honour to take part in such an important event aimed at reinforcing business ties and bringing the Russian and Cypriot nations closer together. The fact that we have sponsored the forum has placed Uniastrum brand in the very heart of the Russian-Cyprus business community”.
“Cyprus’s aspiration has been not to remain just a tax heaven, but to become a regional financial and business centre”, says Andreas Eliades, Bank of Cyprus Group Chief Executive Officer. And indeed both the Bank of Cyprus and the government have chosen the latter course. With investments from both sides, it has been proved that both economies have something to contribute to each other, while also sharing the merits of healthy co-operation”.
CB UNIASTRUM BANK LLC was established in 1994. Uniastrum is a universal lending institution offering a comprehensive range of financial products and services, with particular focus given to the retail sector and small and medium-sized businesses. Uniastrum is one of Russia’s Top-30 systemically important banks, as ranked by the Central Bank of the Russian Federation, and places among the country’s Top-20 based on the size of its branch network. It is Russia’s 45th largest bank by asset size, 31st by loan portfolio volume, 28th by overall retail deposits, and 13th by total auto loans. In 2003-2007 it was the 14th biggest dynamic-growth bank, according to ratings released by RosBusinessConsulting news agency. Uniastrum’s financial statement for January 1, 2010 showed the Bank’s total assets at Rb 140 bn, with equity capital amounting to Rb 8.7 bn. Uniastrum Bank is a deposit insurance scheme participant. On May 31, 2010 Moody’s Investors Service affirmed the Bank’s long-term global foreign and local currency deposit rating at Ba2 with a stable outlook, while Moody’s Interfax Rating Agency affirmed its national scale rating at Aa2.ru. Uniastrum’s regional network currently numbers around 220 offices (including 43 branches) in 48 Russian regions. Since October 31, 2008 Uniastrum Bank has been a member of the Bank of Cyprus Group.
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