Uniastrum joins list of banks partnering Moscow Region SME Credit Assistance Fund

Under the agreement, concluded in late 2010, the Fund will guarantee a total cap of Rb 28 mn.

Uniastrum Bank’s working relationship with the Fund will play an important part in the success of a special program designed to stimulate SME growth in 2009 – 2012 by making loans more readily affordable for small and midsized businesses operating in the Moscow region. By taking advantage of a Fund guarantee, enterprises lacking sufficient liquid collateral can secure the amount they require. The Fund is able to guarantee up to 50% of any loan commitment undertaken.

A Uniastrum Moscow Region Fund-supported loan is available to any SME registered and operating in the Moscow Region. Under the scheme borrower enterprises must have been working for no less than 3 months, be current on taxes and other budget payments, and be able to lodge collateral equal to at least 50% of the principal.

Uniastrum Bank continues to deliver on its commitment to promote business development throughout Russia, partnering local administrations and foundations in more than 30 regions Russia-wide, and playing an active role in a state-sponsored SME financial assistance program operated by the Russian Bank for Development – enabling budget-conscious business owners to obtain credit on easy terms. At year-end 2010, Uniastrum more than doubled the maximum loan available to small and midsized enterprises to Rb 50 mn.

“Small and medium-sized business is an important part of the Moscow Region’s economy and is playing an increasingly large role in the life of the local community,” notes Svetlana Chubakova, Uniastrum’s Vice-President for Small Business Development. “Uniastrum Bank’s well ramified network of branch offices, its partnership with the Fund, and the competitive credit terms offered are all but guaranteed to boost SME growth in the near-Moscow area.”

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 44th largest bank by asset size, 37st by loan portfolio volume, 32th 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 October 1, 2010 showed the Bank’s total assets at Rb 134 bn, with equity capital amounting to Rb 8.99 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.

For more information call or write Press office:

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