Uniastrum Bank holds press conference on strategic development

19 november 2010

Timed to coincide with the launch of a flagship office in downtown Moscow, the press conference on November 18 focused on the strategic rollout of Uniastrum’s retail segment

Taking part in the press conference were Yiannis Kypri, Bank of Cyprus Group Chief General Manager, George Piskov, Chairman of Uniastrum Bank’s Board of Directors, Gagik Zakaryan, Uniastrum Bank President, and Eugene Tutkevich, Chairman of Uniastrum’s Management Board. Garegin Tosunyan, President of the Association of Russian Banks, was the conference’s special guest.

The press conference was held at the Bank’s new branch office at 30, Komsomol Avenue. The opening of the flagship office marked the unveiling of Uniastrum’s new design concept for its network banking centers, which includes improved overall structure, enhanced front office functionality, as well as the Bank’s new corporate style. Moving forward, other flagship offices are to be launched in major Russia cities, namely federal district administrative centers and cities with populations of over 1 million.

The press conference also saw Uniastrum outline its priority areas of operation for next year, which, among others, will include the launch of innovative products, the upgrade and deployment of banking technologies, and the activation of new social programs.

“Our aim is to press on with the rollout of our retail side, while continuing to upsize lending to small and midsized businesses,” said Eugene Tutkevich. “In 2011 we expect to expand our credit card and consumer credit portfolios a solid 50 percent, meantime boosting auto loans by 25 percent. We also anticipate total deposits increasing fifty percent.”

It is now two years since Uniastrum joined the Bank of Cyprus Group. During the press conference Chief General Manager Yiannis Kypri said that in the midterm the Group would undertake the preparations necessary prior to Uniastrum gaining a listing for its securities on the Russian stock market, currently scheduled for 2014-2016.

“We are utterly convinced as to the huge potential of the Russian economy and have the highest regard for what Uniastrum has achieved so far,” Yiannis Kypri said. “Intrinsic to the Bank’s continued success will be the integration of the Group’s technologies and proven knowhow with Uniastrum’s in-depth knowledge of the Russian business environment. Once Uniastrum securities are accepted for trading on the Russian stock market, the Bank’s appeal will increase, providing it with access to equity in rubles and further solidifying its position as one of Russia’s foremost banking institutions.”