Tuesday, March 30 2010 11:34
Unibank increases its authorized capital to 11.4bln AMD
ArmInfo. The press service of Unibank reports that the bank needed this increase for augmenting its credit portfolio by 35% in 2010. By the end of this year the bank is planning to increase its crediting to 90bln AMD due to retail and corporate customers. The bank will continue its customer-oriented credit policy and will develop credit programs for customers with different needs and capabilities. Unibank's credit programs permit early repayment without any restriction or fines.
As far as ArmInfo knows, the increase was effected due to closed issue of shares approved by the Central Bank of Armenia. As a result of the issue, the stake of Unibank's sole shareholder, non-resident Ripatonso Holdings Limited has been reduced by 1/4 with non-residents Gagik Zakaryan (Chairman of the Board of Unibank and the Board of Moscow Uniastrum Bank) and Georgy Piskov (member of the Board of Unibank and Chairman of the Council of Uniastrum Bank) having reinstated their stakes. Zakaryan and Piskov own Ripatonso Holdings Limited on a 50/50 basis.
According to the Analysis and Ranking of the Banking System of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), Jan 1 2010 the capital of Unibank totalled 11.6bln AMD (10th place), authorized capital - 8.6bln AMD (8th place), assets - 108.6bln AMD (5th place), crediting - 66.7bln AMD (5th place), time deposits - 73.2bln AMD (1st place).
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