OREANDA-NEWS. July 29, 2011. Uniastrum Bank and the Saint Petersburg Finance Committee have signed a General Depository Agreement, under which St. Petersburg budget funds will be placed with the Bank via the SPCEX electronic trading system, reported the press-centre of Uniastrum Bank.

Effective until December 31, 2013, the trilateral agreement between Uniastrum Bank, the St. Petersburg Finance Committee and the St. Petersburg Currency Exchange will enable the Bank to take part in deposit auctions and trading conducted by the Committee via the SPCEX ETS.

Uniastrum meets all the eligibility criteria set by the Saint Petersburg City Administration for authorized banks, the core requirements being high capitalization and high credit ratings. The placement of Saint Petersburg funds in Uniastrum deposit accounts will boost the Bank’s finances and underscore its high status in the region.

Uniastrum has maintained a presence in Saint Petersburg for over 7 years, offering customers a wide range of modern financial products and services, according particular emphasis to retail and SME banking. In H111 the regional branch’s corporate lending portfolio expanded 161% to Rb 852 mn as of July 1, 2011. By the same date its small business loan portfolio tipped the scales at Rb 164 mn. In the first half of the current year, the branch’s auto finance portfolio topped Rb 1.3 bn, while its combined card and personal loan portfolio reached Rb 168 mn, up 25% in the reporting period. Meantime, retail time deposits increased 12% to Rb 870 mn.

“The agreement to have Saint Petersburg budget funds deposited with our bank is further testament to Uniastrum’s reliability and financial strength,” notes Chairman of the Management Board Eugene Tutkevich. “We value the trust placed in us by the Saint Petersburg Administration and intend to participate in the Finance Committee’s deposit auctions on a regular basis.”