Swiss Ambassador to Armenia Lukas Gasser: Switzerland will try to contribute to a peaceful settlement of the Nagorno-Karabakh conflict without questioning the established formats such as the OSCE Minsk process
by Tigran Khachatryan
Unibank goes on successfully fulfilling the strategy on increasing the share of credits to small amd medium-sized business in the total credit portfolio. As press-service of the bank reported, as of 31 July 2013, the total credit portfolio of the bank exceeded 102 billion drams, 59 bln drams of which are business-credits.
The volume of SME crediting exceeded 38 bln drams. This increased their share in the credit portfolio of the bank from 31% up to 37% for July.
At present, business-crediting programmes of Unibank are in high demand at the market, as they were drawn out taking into consideration the specifics and season of business of specific groups of clients. The improved conditions and simplified crediting procedure give more opportunities for business development.
To support micro-business, Unibank offers a credit product "Unsecured", which may be given at the day of application. The bank does not demand security, it is enough for a client to have positive credit history and to submit two guarantees. The credit may be given either in Armenian drams or foreign currency. Minimal interest rate is 16%.
The long-term credit "business-standard" with the paying-off period 10 years is very much popular among SME. This loan on mortgage is given to private businessmen and legal persons with a positive credit history. The sum of the loan should not exceed 400 million drams (or their equivalent in foreign currency), with a minimal interest rate - 10%.
The long-term repayment of a credit in Unibank is allowed without limit or fines. One can apply for a business-credit to any out of 45 offices of Unibank.
According to the Financial Ranking of Armenian Bank prepared by Arminfo, as of 1 July 2013, the assets of Unibank amounted to 138.1 billion drams (the 7th position at the market), in the structure of which the share of credits is about 78%.