Wednesday, August 17 2011 14:38

Unibank is among Armenia's biggest tax payers


ArmInfo. In Jan-June 2011 Unibank's profit exceeded 1bln AMD - fivefold growth as compared with Jan-June 2010.

Referring to ArmInfo's Ranking of Commercial Banks of Armenia bulletin, the press service of Unibank reports that during the period the bank registered the biggest growth in net earnings from foreign exchange transactions - 5% to 696mln AMD.

The total income of the bank totaled 9.1bln AMD, the expenditure - 7.8bln AMD, the pretax profit - 1.3bln AMD. This proves that the bank is successfully implementing its development strategy, based on retail business and SME support.

According to the bulletin, June 30 2010 Unibank's assets totaled 112.9bln AMD, the loan book - 74.8bln AMD, wherein 65% were loans given to the economy and 32% loans given to individuals. In its lending activities the bank gives priority to trade, industry and consumer loans (mortgage and hire purchase loans and overdrafts).

June 30 2011 the bank's time deposits totaled 80.3bln AMD or 83% of the bank's obligations - the highest indices in Armenia's banking system. As compared with Q2 2010 Unibank's time deposits grew by 28%, in Q2 2011 alone - by 15.5%. The share of personal deposits in the time deposit portfolio grew by 18% as compared with Q2 2010.

Jan-June 2011 Unibank showed the highest positive cash flow - 7.4bln AMD (90.6% more than in June 30 2010).

During the period the bank paid 872mln AMD in taxes and is the 45th biggest tax payer in Armenia.

The shareholders of Unibank are Ripatonso Holdings Limited - 75.4%, Gagik Zakaryan and Georgy Piskov - 12.3% each.
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