Uniastrum Forges Partnership with Udmurtia SME Credit Assistance Guarantee Fund

New York, NY, December 15, 2010 --(PR.com)-- Uniastrum’s collaboration with the Fund will make borrowing significantly easier for small and midsized enterprises operating in the Udmurt Republic. Borrowers lacking sufficient liquid collateral can use a Fund guarantee to obtain the credit amount they require. The Fund is able to guarantee up to 50% of any loan commitment undertaken.

Conspicuous benefits of the Bank’s SME lending programs include competitive interest rates and generous repayment periods of up to 10 years, making for smaller monthly installments and, needless to say, less strain on SME budgets. Meantime, Uniastrum continues to press ahead with devising new, sector-specific loan products. In a number of regions its first lending scheme for rental businesses is already up and running, and before too long the lender plans to launch similar programs for retail food merchants and passenger transportation companies.

A Uniastrum Fund-supported loan is available to any small and midsized enterprise registered and operating in the Urdmurt Republic meeting the eligibility criteria, i.e. the SME must have been working for at least a year, is current on taxes and other budget payments, and is able to lodge collateral equal to 50% of the principal.

Consistent with its long-term strategy to promote Russian business, Uniastrum Bank plays an active role in a state-sponsored SME financial assistance program operated by the Russian Bank for Development, partners with local government and foundations in more than 30 regions nationwide, and remains committed to providing banking products and services specially designed to appeal to budget-conscious small and medium-sized businesses.

“Encouraging the development of small and medium-sized enterprise is intrinsic to our overall rollout strategy,” notes Eugene Tutkevich, Chairman of Uniastrum’s Management Board. “Thanks to their flexibility and ability to adjust to changes in the market landscape, SME are today one of our most durable business segments.”

CB Uniastrum Bank LLC was established in 1994. Uniastrum is a universal lending institution offering a comprehensive range of financial products and services, with particular focus given to the retail sector and small and medium-sized businesses. Uniastrum is one of Russia’s Top-30 systemically important banks, as ranked by the Central Bank of the Russian Federation, and places among the country’s Top-20 based on the size of its branch network. It is Russia’s 45th largest bank by asset size, 31st by loan portfolio volume, 28th by overall retail deposits, and 13th by total auto loans. In 2003-2007 it was the 14th biggest dynamic-growth bank, according to ratings released by RosBusinessConsulting news agency. Uniastrum’s financial statement for October 1, 2010 showed the Bank’s total assets at Rb 134 bn, with equity capital amounting to Rb 8.99 bn. Uniastrum Bank is a deposit insurance scheme participant. On May 31, 2010 Moody’s Investors Service affirmed the Bank’s long-term global foreign and local currency deposit rating at Ba2 with a stable outlook, while Moody’s Interfax Rating Agency affirmed its national scale rating at Aa2.ru. Uniastrum’s regional network currently numbers around 220 offices (including 43 branches) in 48 Russian regions. Since October 31, 2008 Uniastrum Bank has been a member of the Bank of Cyprus Group.

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