Further to their successful partnership in Q410, Uniastrum and RBD signed a new agreement under the 5-year Co-Financing Program
The loan comes as part of a government-sponsored program to render financial assistance to small and medium-sized enterprises, which, providing they meet RBD eligibility requirements, can obtain cut-price credit under Uniastrum Bank’s U-Prime scheme in order to develop their businesses or purchase real estate or vehicles. Details of the program can be found on the Russian Bank for Development’s website.
Uniastrum is one of Russia’s leading SME financers and remains committed to expanding its operations in this area, going forward. Thanks to its wealth of expertise in working with the smaller business community, Uniastrum is aware of and responsive to SME customer needs. At year-end 2010, for example, the Bank more than doubled the maximum loan principal available to small and midsized businesses to Rb 50 mn. Conspicuous benefits of Uniastrum’s credit programs include generous payback periods and, for businesses lacking sufficient collateral, the chance to acquire loan guarantees from the Small Enterprise Credit Assistance Fund.
“In 2010 the decision to focus heavily on rolling out our SME operation proved a big success,” notes Eugene Tutkevich, Chairman of Uniastrum’s Management Committee. “We are glad to be continuing our working relationship with the Russian Bank for Development in helping small and midsized business make a go of things. Moving forward, business owners, the government, and banks need to pull together if this economic sector is to prosper.”
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.
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