OREANDA-NEWS. December 01, 2009. Going forward, the uptick in charter capital is imperative for bigger business growth and will put the Bank on target to boost its loan portfolio 40% in 2010, reported the press-centre of Uniastrum.

Uniastrum Bank’s charter capital is to be increased via an additional contribution by the shareholder and paid in foreign currency totaling US50 mn, taking the lender’s charter capital to Rb 5.1 bn. Uniastrum’s equity capital will climb to Rb 8.3 bn.

As of year-start 2009 the Bank’s overall lending portfolio totaled Rb 37 bn, rising to over Rb 45 bn by October 1, 2009, i.e. an increase of 20% over 9M09, inclusive of scheduled client loan repayments. Next year, Uniastrum plans to ramp up its lending portfolio 40%, or around Rb 18-20 bn.

“Upsizing charter capital is part and parcel of the Bank’s development strategy, which is geared toward to lifting business volumes in every region where we have a presence,” says Pavel Neumyvakin, Chairman of Uniastrum’s Management Board. “Boosting our charter capital will enable us to expand our loan portfolio by at least Rb 18 bn. Our core business lines remain lending to retail customers, to small and midsized enterprises, and to large corporate clients.