Uniastrum Bank Among Russia’s Top-20 Auto Financers in 2011

Moscow, Russia, June 02, 2012 --(PR.com)-- As of January 1, 2012 Uniastrum’s auto loan portfolio topped Rb 6 bn, bringing its share in the Bank’s retail credit portfolio to 37.9%. Regional branches accounted for over 90% of auto finance sales, led by Saint Petersburg (25.1% of the overall credit portfolio), Krasnoyarsk (5.69%), and Irkutsk (2.65%). Last year saw Uniastrum issuing more than Rb 2.9 bn in auto loans and placing 16th by total distributed loans.

Figures for FY11 released by RosBusinessConsulting news agency also show the Bank among the country’s Top-20 auto finance lenders, ranking 17th by auto loans and 20th by credits issued for car purchases in 2011.

As of year-start 2012, 87% of total auto loans disbursed were for new car buys, up nearly 10% in the past two years. Over 90% of auto finance facilities are currently issued to borrowers looking to buy foreign vehicles, more than half of them being used to purchase a Mazda, Honda, Volkswagen, Toyota, Hyundai, Audi, or Kia – all of which last year found themselves among Russia’s Top-30 biggest car sales, RosBusinessConsulting reports, and confirming once again that Uniastrum’s loan programs are in tune with the needs of the general public.

“Uniastrum has firmly established itself as one of the Russian market’s biggest auto financers,” notes Vasily Kuznetsov, Deputy Chairman of the Bank’s Management Board. “Our competitive advantages in this area basically boil down to the high quality of our product coupled with a high standard of service, including short loan application review times of usually less than 24 hours.”