OREANDA-NEWS. February 05, 2010. Last year, total retail deposits climbed 20%, while corporate deposits more than doubled, reported the press-centre of Uniastrum Bank.

Based on its latest financial results, as of year-start 2010 Uniastrum Bank’s deposit portfolio totaled around Rb 35 bn, an increase of 30% on the year-earlier showing of Rb 27.3 bn.

Total household deposits grew from Rb 25.3 bn on January 1, 2009 to Rb 30.4 bn as of the start of 2010. The Bank’s corporate deposit portfolio expanded a healthy 125%, weighing in at Rb 4.5 bn compared with Rb 2.1 bn on January 1, 2009. Meantime, its corporate checking account balance tipped the scales at Rb 7.1 bn. Overall, some 14,000 business entities opened checking accounts with Uniastrum in 2009.

Corporate and retail deposit products have long been a core part of Uniastrum’s business focus. Small wonder, therefore, that over the years the Bank has received numerous awards and prizes for its unswerving commitment to developing this particular segment, particularly in the area of grass roots financing. Among the accolades garnered last year was a prize awarded to Uniastrum by Finance magazine in April 2009 “For Successful Deposit Market Activities”. Based on figures released by RosBusinessConsulting news agency, Uniastrum has ranked among Russia’s Top-20 banks by retail deposit volumes for some years now.

“Household deposits have always been a crucial component of the liability side of our Bank’s activities,” says Pavel Neumyvakin, Chairman of Uniastrum’s Management Board.”2009 left nobody in any doubt as to the high level of trust placed in Uniastrum not just by our core depositors, retail customers, but also by business entities: last year our fixed term deposit account balance more than doubled. By teaming up with the Bank of Cyprus Group, Uniastrum has been able to offer its clients cutting-edge technologies which, needless to say, make for a higher quality of service. We thank our clients for their abiding loyalty and trust, and assure them of our unstinting efforts to ensure their savings continue to grow.”