2008, Q3 results


With the number of transactions of 1.6 million, the international money transfer system UNIStream processed the amount of transfers worth $1.54 billion in Jul-Sept of 2008, up 34 percent compared to the same period of the year 2007 when the amount of transactions was $1.15 billion with the number of transfers over 1.1 million.

In the first 9 months of 2008, the turnover exceeded $3.72 billion, a 52-percent growth against the Jan-Sept period of 2007 when the system processed the transfers worth $2.44 billion. The number of transfers soared from 2.6 million to 4.1 million.

In the first 9 months of 2008, the system’s turnover exceeded the one of the whole entire 2007.

In his comments to the high growth indicators, the chairman for BD of UNIStream, Gagik Zakaryan said that the growth was possible due to successful realization of a development program. “Its main directions are to develop own network in Russia, solid partnership network in Russia, CIS and globally, and to transform the system into a solid international player,” Mr. Zakaryan said.

He also pointed out high operational indicators the system features entering the 4th quarter. The number of own service points in Russia soared from 226 at the beginning of the year to 280 currently. The system has 300 partnership agreements signed with financial institutions globally. 100 and 160 out of that are the contracts signed with financial institutions in the CIS and Russia, the [money transfers] markets featuring high growth rates and dynamics.

In the third quarter, the system significantly strengthened its positions in Armenia where it controls over 56 percent of the market, Kyrgyzstan – over 50 percent of the market, as well as in Ukraine, Uzbekistan and Tajikistan where UNIStream keeps leadership positions.

The system has gradually been stepping up its international projects. Recently opened in the UK affiliate UNIStream UK has tripled the amount of transactions to $2.2 million since the beginning of 2008.

The spectrum of products the company offers to its clients is now 15 items.

The leadership believes that increase in all above mentioned indicators is to remain the main vector in business development in the rest of 2008.

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