UNIStream inks partnerships agreement with banks Kiev and Investbank in Ukraine

The international money transfers system UNIStream signed partnership agreements with the banks Kiev and Investbank in Ukraine. The agreements open UNIStream a green light to develop its service point network via the banks’ branches.
In his comments on the agreements, the CEO for UNIStream, Souren Hayriyan said they drastically strengthen the system’s positions in Ukraine.

“The corridor is one of the most strategically important directions, thanks to the geographical location and increasing labor migration from Ukraine to Russia,” he said.
“The agreements with the banks Kiev and Investbank are parts of the company’s strategy to develop a solid service point network in the CIS, where UNIStream controls over 25% of the [money transfers] market, and globally.”

Currently UNIStream operates over 2000 service points in the republic and plans to step up the number to 4000 by the end of 2007.
The system successfully cooperates with 21 financial institutions including the giants Ukrprombank, Ukrsibbank, Vneshtorgbank, Praveks Bank and Ukrainian Financial Group.

Hayriyan reported that the UNIStream’s volume of transactions reached $233million in Jan-June of 2007.
“We plan to step up our business in Ukraine and at least double the 2006 results in 2007. Excellent market situation and growing demand for quality inexpensive services will help us to do so,” Hairiyan said.
He also pointed out that the CIS money transfers market has demonstrated a 75%-growth throughout the past 12 months.
The system signed 46 new partnership agreements in the first 6 months of 2007.
With the volume of transactions of $1.85 billion in 2006, the system operates 65 thousand service points worldwide, serving up to a million clients globally.

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