OREANDA-NEWS. May 28, 2014. In cooperation with International Finance Corporation (IFC) and Black Sea Trade and Development Bank (BSTDB), Unibank CJSC started the implementation of the loan program for the small and medium businesses (SME).

Focusing on the needs of the customers and features of the market, the bank has developed two new loan products, “Profitable” and “Profitable +”, within the framework of which SME loans with more profitable conditions will be granted, particularly using a lower interest rate starting from 9,9 % annually. The sum of the loan will amount to up to 1 000 000 USD, with a repayment period of up to 60 months.

Supporting small and medium businesses is one of the key priorities of Unibank’s activity. Dated as of 31.03.2014 Unibank’s total credit portfolio exceeded 109 bln AMD, of which 52% were made out of credits provided to SMEs. The cooperation with international financial institutions will contribute to the accessibility of crediting SMEs, to the improvement of enterprises’ competitiveness and activity efficiency, and to the creation of new jobs.

We should remind that the cooperation agreement between IFC, BSTDB and Unibank was signed by the sides on December 2013. According to the agreement, IFC and BSTDB have provided a loan of USD 10 million to Unibank CJSC to be directed on the financing of small and medium enterprises. IFC also provided Unibank with a short-term revolving loan of up to USD5 million designed specifically to support trade working capital and is supporting the bank with advisory services aimed at improving risk management and SME credit processes.

“We consider small and medium business to be interesting and perspective segment for us to develop. Today Unibank monthly provides 150 loans on average, totaling to USD 3.8 billion AMD. The financial resources from international financial institutions will be directed to the business development that will allow Bank to contribute to the enterprise growth and the creation of new jobs. Our new products are called to satisfy the demand of the business for more accessible crediting resources and more favorable conditions. I am sure that the new offer will allow us to work in this direction with maximum efficiency, - said Vardan Atayan, Chairman of the Executive Board of Unibank.