Unibank sums up the quarter with profit of over AMD 472bn

21.06.2018 | 12:42 Home / News /
#Unibank
Unibank shareholders gathered at the annual general meeting on June 20 to sum up the results of the bank’s work during 2017 and present future plans.

During the reporting year the bank’s assets have increased by approximately 9.5%, making AMD 202.7 billion, while the liabilities have grown by 11% and made over AMD 167.4 billion. The total capital of the bank has reached more than AMD 35.4 billion. The volume of the bank’s loans has grown by 14%, making over AMD 135 billion.             

“Great work has been carried out at Unibank in 2017 in regards to the improvement of the service quality and the services provided. As a result, Unibank had a leading role in retail market providing more than 1000 loans daily,” said the bank.

“During the reporting year, Unibank has secured a high rate of growth in all main spheres of its activity. The improvement of risk management system, diversification of the portfolio and extension of loan volumes has made the record index of Unibank’s assets possible. The improvement of the bank’s assets has also been evaluated by Moody’s agency, the latter having raised Unibank’s rating up to B2 with stable outlook. Today, the bank has 360 000 clients and 173 shareholders who consider Unibank a trustworthy and reliable partner,” said Gagik Zakaryan, Unibank Board Chairman.

Unibank continues the tendency for active growth in 2018 as well and has overfulfilled the business plan. In the first quarter, Unibank has made a profit of more than AMD 472 million, which will essentially contribute to the rise of the bank’s investment attractiveness.

“In the frameworks of the bank’s development strategies, we are planning to make a profit of about AMD 4 billion in 2020. The market share of the bank’s retail loans will be up to 13%, POS loans are expected to rise up to 40% and corporative loans - up to 10%. We are also planning to increase the quantity of banking cards take it from 80 000 up to 100 000”, reported Mesrop Hakobyan, Unibank CEO.

The meeting of shareholders has confirmed the bank’s Board as such: Gagik Zakaryan, Georgie Piskov, Vardan Atayan, Eduard Zamanyan, Hrahat Arzumanyan, David Papazyan, and Artem Konstandyan.

“As you know, there was a change in the bank’s management in 2017 and Mesrop Hakobyan took the responsibilities of CEO, while Vardan Atayan accepted our offer to continue his work in the Board. Artem Konstandyan, the new Board Member of Unibank, also has a great banking experience. We are sure that Unibank will actively continue its development as a client-oriented and innovative bank owing to the team work. We are grateful to our shareholders and clients for their trust and loyalty and to the bank’s staff for their teamwork as well. Also, special thanks to the Central Bank and to the Union of Banks of Armenia for their support,” concluded Gagik Zakaryan.
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