Uniastrum Bank Launches U-Grace Credit Card with Interest-Free Period

Moscow, Russia, October 05, 2011 --(PR.com)-- Uniastrum’s new U-Grace credit card is a practical way of paying for goods and services, enabling holders to use their approved credit line absolutely free of charge for up to 55 days and to minimize interest payments*. U-Grace’s other benefits include competitive rates, early repayment at any time without incurring penalties or charges, convenient service options, and the opportunity to obtain an extra card on request. The credited funds can be repaid at any Uniastrum outlet, via ATMs accepting deposits, and self-service payment kiosks.

U-Grace cardholders who do not repay the total amount due before the grace period expires, nevertheless enjoy flexible settlement options. Payments start at just 5%** of the credited funds used as of the end of the repayment period. U-Grace allows borrowers to spend up to Rb 600,000 or the dollar/euro equivalent***. For more details on the U-Grace card’s terms and conditions and to complete an application form, visit the official website of the Uniastrum Bank.

“The U-Grace initiative is a welcome addition to Uniastrum’s wide range of card options,” notes Vasily Kuznetsov, Deputy Chairman of the Bank’s Management Board. “Our current card mix comprises over 10 product groups, each of which can be employed for a variety of functions, including paying for goods and services, managing and increasing cash flows, and receiving discounts on everyday payments.”

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 business. 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 banks based on the size of its branch network. It is Russia’s 48th largest bank by asset size, 37th by loan portfolio value, 31st by total retail loans, and 11th by overall SME credits, according to figures released by RosBusinessConsulting news agency. Uniastrum’s financial statement for January 1, 2011 showed the Bank’s equity capital standing at Rb 9 bn. Moody’s Investors Service affirmed Uniastrum’s long-term credit rating at Ba3 with a stable outlook, while Moody’s Interfax Rating Agency affirmed its national scale rating at Aa3.ru. Uniastrum is a deposit insurance scheme participant. The Bank’s regional network currently numbers more than 200 offices (including 43 branches) in 48 Russian regions. Since October 31, 2008 Uniastrum Bank has been a member of the Bank of Cyprus Group.

###