Monday, March 22 2010 18:21

Unibank to raise credit portfolio by 35% in 2010


ArmInfo. Unibank is expected to increase credit portfolio by 35% to 90 billion drams till the end of the year, Unibank press-service told ArmInfo. As of late Feb 2010, the credit portfolio of the bank amounted to nearly 66.5 billion drams, including 39.8 billion drams business loans.

The source reported that Unibank will further focus on lending to individuals in 2010 offering new conditions of mortgage and auto lending. In late Feb 2010 the mortgage portfolio of the bank amounted to 12 billion drams and the portfolio of auto loans totaled 8 billion drams.

AT the same time, lending through plastic cards of Unibank doubled per year and totaled 2.2 billion drams in late Feb 2010. The bank issued nearly 37,000 cards as of early Feb 2010, including 73% were Visa International. The number of the bank's POS-terminals at various sales and service points totals 674. The bank serves also 65 ATMs.

Unibank increased lending almost 43% for 2009 to 66.7 billion drams. Assets grew 58% for 2009 and exceeded 108.6 billion drams as of Jan 1
2010.

On Jan 1 2010 the bank's shareholders were Asset Management and EVA Invest holding by 50% shares.
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