OREANDA-NEWS. September 11, 2012. In 2008, just before the world was hit by financial crisis, the Bank of Cyprus acquired an 80% stake in Uniastrum, investing over 600 million dollars in the Russian economy, reported the press-centre of Uniastrum. 

Uniastrum has summed up the financial results of 4 years of operations under the BOC roof.

July 1, 2012 vs. July 1, 2008:

Credit portfolio expanded 76% to Rb 71.1 bn.

SME credit portfolio swelled 640% from RB 1.9 bn to Rb 14 bn.

In the past 4 years consumer credit portfolio and credit card portfolio grew 4-fold to Rb 8 bn.

H112 profit before provisions and taxes climbed over 7-fold on the 2008 result, weighing in at Rb 592 mn.

July 1, 2012 vs. July 1, 2011:

In the reporting period consumer credit portfolio grew 30% to Rb 4.1 bn.

Small business loan portfolio expanded 28% to Rb 14 bn.

H112 profit after tax outstripped the year-earlier result 110%, totaling Rb 143 mn.

“Our headline financials once again confirm the investment as an ongoing success story and Russia’s banking sector as a promising growth area,” notes Uniastrum President Gagik Zakaryan.