UNISTREAM’s Q3, 2006 results

16.10.2006

In the  third quarter of 2006, the money transfers system UNISTREAM continued to  demonstrate steady growth and positive dynamics. The amount of transactions  reached $573 million in July-September, up 45 percent compared with April-May  when the system demonstrated a $396 million turnover.
In  September of this year, UNISTREAM reached a significant achievement. The system  has become the first among the Russian money transfers systems to demonstrate a  $1 billion 3 million turnover in the period from January – September.
With the  focus on signing new partnership agreements, UNISTREAM actively signed  partnership deals with new CIS and international financial institutions world  wide. The partnership portfolio increased by 48 banks and money transfers  systems making the number of service points grow from 22  000 (end of Q2)  to the current 25 000.
The system  signed agreements with such financial institutions as Ulaanbaatar City Bank  (Mongolia), ASE Management (Great Britain), Chequepoint operating in UK, Check  Republic and Spain), Totalmoney (Israel), Beltcastle (Latin America), Instant  Cash, Orion Bank (Afghanistan) and so on.
In the  third quarter UNISTREAM significantly widened the spectrum of services adding  the internet payments of Yandex Money, Cyberplat and Money Mail.
“Besides  stepping up the production and signing new agreements, the third quarter was  marked by significant evens for the UNISTREAM money transfers system,” said CEO  for the system, Souren Hayriyan, “In July, the system became an independent  business based on the Moscow-headquartered Unistream Bank. We finalized  obtaining the license on Cyprus  for our affiliate UNISTREAM Cyprus,  demonstrating that UNISTREAM is now internationally recognized money transfers  network.”
Hayriyan  said UNISTREAM is targeting a $2 billion turnover in 2006 against a $750  million in 2005.



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