Unibank’s 1st Q 2016 profit amounts to AMD 212 million

05/10/2016

Unibank showed goods financial results in all the segments of its activity in the first quarter of 2016 and continued building up its profit. Unibank’s assets reached AMD 170 billion and liabilities AMD 146 billion.

Unibank’s 1st Q 2016 profit amounts to AMD 212 million. The bank also was 41st among Armenia’s 100 biggest taxpayers with its AMD 628.5 million transferred to the government budget.

The increased lending, which exceeded AMD 119 billion, was one of the factors of assets’ growth. Unibank views expansion of the range of products and self-service transactions as well as development of remote channels, such as Internet banking and mobile banking, as top-priority objectives in retail business. The bank’s loan portfolio amounted to more than AMD 55 billion in the first quarter. Unibank also continued supporting small and mid-scale businesses and private entrepreneurship trying to build up its lending to the real sector of the country’s economy. Unibank has lent about AMD 5 billion to SMEs over the first quarter 2016. This amount is six times greater than that of the same month year earlier.

Deposits at the bank totaled AMD 125 billion in late March after growing 11.6% over the quarter. Individuals’ time deposits grew by AMD 792 million to AMD 85 billion.

“In accordance with its development strategy, Unibank take necessary steps in 2015 to enhance its business effectiveness and investment attractiveness as well as to ensure stability and increase to its capital, as one of the factors necessary for successful and constant development. In April 2016, the bank embarked on an additional emission of bonds totaling AMD 5.2 billion and placed all of them at the stock exchange. As a result, its total capital reached AMD 24.6 billion.

Now Unibank has 45 branches and 54 promo offices. It cooperates with more than 1000 trade and services organizations. The number of the bank’s clients reaches 300,000.

Taking into consideration the population’s interest in securities, Unibank started issuing two-year dollar coupon bonds totaling $5 million with 8% return rate. The coupon profit will be paid once in every quarter.
The minimum number of bonds for sale is 10 worth $1,000 (nominal price for one bond is $100). The bonds are expected to be listed at NASDAQ OMX Armenia stock exchange after placement.