OREANDA-NEWS. April 14, 2011. Ever since Uniastrum teamed up with the Fund on its inception five years ago, the Bank has disbursed some Rb 1.8 bn in Fund-guaranteed loans. In 2010 total credits issued by Uniastrum backed by Fund guarantees increased over 2.5-fold year-on-year

Last year Uniastrum Bank entered into 122 loan agreements guaranteed by the Moscow SME Lending Assistance Fund. As of year-start 2011 the lender gave out around Rb 650 mn in credit on the strength of guarantees issued by the Fund. As of February 1, 2011 the Fund provided Uniastrum clients with additional collateral of more than Rb 1 bn. By the same date Uniastrum loans accounted for 7.4% of the Fund’s total number of existing credit agreements.

Fund officials regularly take part in SME workshops, seminars and other events organized by Uniastrum with a view to enhancing financial literacy. The Fund has now awarded the Bank a certificate of merit for productive collaboration.

In 2010 Uniastrum extended small businesses and sole proprietors Rb 7.3 bn in credit, or more than double the amount issued to this segment in the previous year. Meantime, the lender’s small business lending portfolio grew 92%, tipping the scales at Rb 8.84 bn as of January 1, 2011, and today the Bank has over 2,000 SB customers, up 64% in 2010.

“Results for 2010 show Uniastrum approximately doubling its share of Russia’s SB finance market,” notes Svetlana Chubakova, Vice-President of the Bank’s small business development department. “So far this year we have launched a number of lending programs that are entirely new to this country, evidencing our ongoing commitment to work to develop innovative products and services.”