Unistream money transfer system turnover triples in 1H06


MOSCOW, July 5 (RIA Novosti) - Unistream, Russia's money transfer system, said Wednesday its business expanded by about 200% year-on-year in the first half of 2006 to more than $600 million.

"I can tentatively say we expect the business volume to triple in the first six months on the same period last year and plan to reach the level of more than $600 million," Unistream Director Suren Airiyan said.

Developed by Uniastrum Bank, the Unistream money transfer system joined the banking market in 2001. Currently, the system is operational in more than 85 countries.

The value of Unistream money transfers totaled $780 million in 2005, an increase of 200% on 2004.

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