ARMENIAN UNIBANK’S BRANCH NETWORK TO GET ONLINE

ARKA
Feb 3, 2009

YEREVAN, February 3. /ARKA/. Armenia’s Unibank plans to launch
an online branch network in March, with its Abovyan, Artashat and
Echmiadzin branches getting online in January.

Currently, the bank’s head office, as well as its 12 Yerevan-based
and seven regional branches are connected to a common database.

"Thanks to the online system, our clients can make deals in any branch
inside the system, irrespective of the initial address of the service,"
Unibank’s press service says.

The bank believes the online system is particularly advantageous for
customers using money transfer services. The bank allows clients to
get transfers through Unistream in any branch connected to Unibank’s
online system, no matter what address the sender has mentioned.

Unistream money transfers’ turnover reached $802mln in Armenia last
year – 22% year-on-year rise. The bank started to introduce the online
branch network system last July.

Established in 2001, Unibank offers a full range of banking
services via its head office and 30 branches in Yerevan and Armenian
regions. The bank’s liabilities rose 53.7% to 59bln 319mln drams
in 2008, with its total capital reaching 8bln 822mln drams (25.8%
year-on-year increase). Unibank’s assets rose 49.4% to 68bln 141mln
drams. As a result, the bank earned 1bln 729mln worth net profit
last year.

U niastrum Asset Management LLC is the 50% shareholder of the
bank, with the rest of the shares owned by Eviainvest LLC resident
company.
From: Baghdasarian