Thursday, March 11 2010 10:05

Unibank intends to increase its branch network by 9 new branches in 2010


ArmInfo. Unibank is going to open 9 new branches in 2010, as a result of which the total number of its branches will amount to 43. The Unibank press-service told ArmInfo that the 35th branch of the bank – "Avan" at 175/11 Khudyakov, Yerevan, will be launched on March 15. Besides, another branch will be launched in Yerevan, in the Achapnyak community, in March-April. In the first half-year of 2010, the bank will open a new regional branch in Agarak.

According to the Analysis and Ranking of the Banking System of Armenia by the Agency of Rating Marketing Information (ArmInfo), as of the end of 2009, Unibank assets amounted to 108.6 bln AMD (5th position in the banking system), total capital - 11.6 bln AMD (10th position), provision of crediting - 66.7 bln AMD (5th position), or over 61% in assets. In the credit portfolio 58% fell on econom crediting (5th position), and 42% - on crediting of individuals (2nd position). About 37% in the credit portfolio fell on industrial sector loans (1st position). General liabilities amounted to 96.9 bln AMD (3rd position), in their structure the share of time deposits made up over 75%, or 73.2 bln AMD (1st position), of them 62% are funds attracted from individuals (1st position).

To note the shareholders of Unibank are Asset Management (50%) and EVA Invest (50%). Unibank is the exclusive partner of Unistream money
transfer system, which has been working in Armenia since the second half of 2002. By the volume of money transfers, Unibank is in the lead.
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