The analysis department of the international money transfers system UNIStream reported that the volume of transactions grew by almost 2.5 times to $1 billion 850 million in 2006, up 146% on year. In 2005 the system demonstrated a $750mln amount of transactions.
The UNIStream’s analysts say the system steadily stepped up the amount of transactions through 2006. In Q1 of 2006 the system processed transactions worth over $226 million while in Q2 the volume of transfers processed grew to $396 million. The results of Q3 and Q4 are $581 million and $646 million respectively.
In H1, 2006, the system processed the amount of transactions worth $1 billion 227 million against over $620 million in Jan-June.
Some UNIStream’s money transfers corridors demonstrated fold-increases in 2006. The system’s volume of transactions increased by 2.8 times in Ukraine, from $83.8 million to $232.8 million in 2006. Moldova demonstrated a 3 –fold growth from $54 million in 2005 against $161 million in 2006. In Uzbekistan, UNIStream stepped up the amount of transactions from $23.9 million to $146 million, a 6-fold growth. The amount of transactions in Kyrgyzstan grew from $99 million to $221 million during the period. In Armenia [Republic of], the system demonstrated a 1.7-fold growth from $240 million in 2005 to $413 million in 2006.
The UNIStream’s volume of transactions in UK increased from $34.8 million to $85.7 million in 2006.
Commenting on the results of 2006, the director general for UNIStream Souren Hayriyan said 2006 was a very dynamic period, when the company intensively developed its program to step up the volumes of transactions, signing new partnership agreements and develop its service point network.
In 2006, the system signed partnership agreements with 115 financial institutions world wide. The number of the partners in the UNIStream network grew from 96 to 211 in 2006. The number of service points grew from 10,000 to 25,000 globally.
“In 2006, the company carried out an aggressive marketing policy with the focus on permanent increase in our market share and transformation into an international money transfers system targeting leadership positions in the global money transfers market,” Hayriyan said.
“The leadership managed to successfully use good market situation that, we believe, will remain in 2007.”
“The positive market conditions are caused by rising migration processes, as well as by increase in the population’s confidence in organized ways to send money and good macro economic conditions in some countries, including Russia,” he said, “We estimate that in 2006, the CIS money transfers market grew 70 percent in CIS where our market share is currently 25%.”
“2006 is marked by very important events for our company: our affiliate UNIStream Cyprus obtained the license in Cyprus and UNIStream became an independent business with the nuclear of Unistream Bank based in Moscow. This year we finalized the transaction to sell a 26% stake in UNIStream to the British company Aurora Russia Ltd. The $20-million deal has become a certain result of the work the leadership of UNIStream has carried out since the beginning in 2001. We are the first Russian money transfers system to attract investments in the business.”
Hayriyan said that in 2007, UNIStream will keep stepping up its rate of development. “Now we carry a great responsibility. It is due to the confidence the investor rendered. We will do all our best to live up.”