Expert RA

Expert RA has rated the commercial bank UNITBANK

November 2, 2007

The Expert RA rating agency has assigned the solvency rating B (acceptable level of solvency) to the commercial bank UNITBANK (Samara).

Positive factors that influenced the UNITBANK’s solvency include a high level of capital sufficiency along with a quality loan portfolio. "It is necessary to mention that at the moment the bank is going though the rapid business development stage. Extending the customer database helps to diversify both obtained and invested funds. UNITBANK’s dependency level on its biggest creditors and investors is gradually being reduced. At the same time the bank continues to maintain its status of a universal financial institution," says Oksana Komardina, Expert RA analyst of the financial institution ratings department.

The solvency of UNITBANK is limited by a relatively small level of business activity, low transparency level, geographically narrow range of operation, lack of the "long-term" money in the structure of obtained funds along with the instability of assets and liabilities in terms. At the present stage the bank’s activities are characterised by the low profitability ratio of its assets and funds.

The bank is planning to expand its presence in Samara and to increase the business activity through various means including but not limited to the plastic cards emission, development of mortgage programmes and auto-crediting.

UNITBANK is a universal bank, concentrating on servicing individual customers along with the small and medium businesses of Samara. As of 01/10/2007, according to the RAS, UNITBANK’s assets totaled 840.2 million rubles, own capital – 216.6 million rubles and net profit – 12.4 million rubles.

For further information, please contact Nadezhda Largina, Head of PR department, Expert RA rating agency:
tel.: (495) 225-34-44, add. 667
mob.: +79263108266
e-mail: largina@raexpert.ru
icq: 257-128-526