Yerevan /Mediamax/. Chairman of “Unibank” Board Vardan Atayan believes that the influence of the world financial crisis on the banking sector## of Armenia will be “superficial” in the view of insufficient integration of the Armenian financial system into world markets.

As Mediamax was told in “Unibank” press service today, Vardan Atayan expressed opinion that the crisis will mostly influence banks, which carry out significant activity in the sphere of securities, and “as it is known, the involvement of Armenian banks in the given market is too small”.

Vardan Atayan noted that, to minimize the possible negative influences of the world crisis, “Unibank” has preferred the local market in attracting and distributing the means. In particular, the bank does not work in the securities market, the main part of the means is directed to crediting the real sector of economy, car and mortgage crediting.

In the course of 9 months of 2008, the credit portfolio of the bank made $160mln, which is 70% more, as compared to the index of the same period of 2007. As of October 20, the bank’s profit made $2.4mln.

Concerning term deposits of individuals, “Unibank” continues preserving leading positions, “which evidences the confidence of the population for the bank’s activity” and has quite liquidity to fulfill its commitments, the Chairman of the Board stated.

“Due to moderate conservatism, correct formation and management of assets and liabilities, today “Unibank” is absolutely free from fluctuations in world financial markets and their negative consequences”, Chairman of the Board of “Unibank” stressed.