Uniastrum Bank First-Quarter SME Lending Tops Rb 6.5 Bn

Moscow, Russia, June 05, 2011 --(PR.com)-- At the end of the first quarter of 2011 Uniastrum’s SME credit portfolio weighed in at Rb 38.7 bn. In the reporting period the Bank issued 1,500 SME loans totaling more than Rb 6.5 bn. As of April 1 2011 its small business lending portfolio topped the scales at Rb 9.44 bn. First-quarter results also show Uniastrum disbursing 476 loans, or Rb 1.4 bn, to small enterprises and sole proprietors.

The first quarter saw Uniastrum design and launch its Sensible Credit package of lending options that gives business customers quick and easy access to financing at competitive rates, whether it be in the form of credit to expand their operations, a special-purpose loan to acquire commercial real estate or vehicles, a planned overdraft, funding for rental activities, or a special loan facility offering a lower rate of interest. The Bank’s reduced rate program enables borrowers to take out from Rb 5 mn to Rb 50 mn. As of the start of the second year, disciplined borrowers automatically enjoy a quarterly rate cut of 0.5%, which means that credited customers with punctual payment records pay 3.5% less on the original rate. The loan arrangement fee is 0.5% of the principal. Q111 also saw Uniastrum extend its exclusive lending scheme for leasing companies throughout its entire network.

The Bank’s immediate plans include the promotion of niche lending products that have been carefully designed to meet the needs of specific segments of the small business community. For further details of Uniastrum’s SB loan options, visit the official site of Uniastrum Bank.

“Since H209 our Bank has commanded a solid position on the small business finance market, doubling its lending portfolio year-on-year,” notes Eugene Tutkevich, Chairman of the Uniastrum Management Board. “Thanks to our extensive branch network and other key resources, we are on track to press ahead with the development of this segment moving forward.”

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