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`Improvement of Risk Control Processes' Program Launched in Unibank
Arminfo
2007-03-09 12:48:00
"Improvement of Risk Control Processes" Program has been launched in
the Unibank, being implemented by a special group, headed by the
Chairman of Unibank's Board of Directors Vardan Atayan. The
representatives of ABN AMRO International Bank had arrived in Armenia
in February, 2007, wit a working visit to implement this Program in
the Unibank. As the Unibank's press-service told ArmInfo, the Unibank
was authorized to fulfill this Program on a competitive basis in
2006. According to the source, the first deputy Chairman of ABN AMRO
and the person in charge of the Program Lloyd Rollston noted that the
main purpose of the Program is to implement the international
experience of risk control in the Armenian bank that will make it more
competitive both in the local and in the international arena.
In his turn, V. Atayan noted that the Program with a 14-month term
envisages to carry out a number of complex measures that will allow
the Unibank to implement and improve the available ones. In
particular, it is expected to open a Department for risk control
within the Program in the Unibank. Moreover, it is envisaged to create
a Department of credit administration in the Unibank's Credit
Department that will deal with the receipt of credit applications,
complete check-up of the package of credit agreements. V. Atayan
underlined that upon the Program completion, the Unibank intends to
carry out relevant measures to get the international rating. For this
purpose, it is scheduled to address such well-known agencies as Fitch,
Moody's and Standart & Poors. V. Atayan also noted that in parallel
with the Program implementation, it is scheduled to carry out works to
implement the principles of Basel II agreement in the
Unibank. Moreover, it is expected to develop and implement a concept
for risk control, a long-term control strategy in the Unibank in 2007
and to change the inner structure of the Bank. Along with it, special
attention during the Program fulfillment will be paid to the
implementation of the system of "culture of risks" that supposes the
estimation of the risk factor.
The ABN AMRO Bank is one of the biggest world banks that has 4.5 thsd
branches in 53 countries of the world. As of December 31, 2006, the
Bank has taken the 8th place in Europe and the 13th place in the world
by the size of assets (987 bln Euro).
According to the analysis of the banking system of Armenia, carried
out by the Agency of Rating Marketing Information (ArmInfo), the
Unibank enters the 10 of the leading Armenian commercial banks by the
main balance indicators. Thus, the Unibank's assets as of Jan 1,
2007, made up $85.2 mln (the 7th place), the credit investments - $8.2
mln (the 2nd place), the deposits of physical persons - $42 mln (the
2nd place). The Bank has completed the year 2006 with a profit of $1.2
mln.
Arminfo
2007-03-09 12:48:00
"Improvement of Risk Control Processes" Program has been launched in
the Unibank, being implemented by a special group, headed by the
Chairman of Unibank's Board of Directors Vardan Atayan. The
representatives of ABN AMRO International Bank had arrived in Armenia
in February, 2007, wit a working visit to implement this Program in
the Unibank. As the Unibank's press-service told ArmInfo, the Unibank
was authorized to fulfill this Program on a competitive basis in
2006. According to the source, the first deputy Chairman of ABN AMRO
and the person in charge of the Program Lloyd Rollston noted that the
main purpose of the Program is to implement the international
experience of risk control in the Armenian bank that will make it more
competitive both in the local and in the international arena.
In his turn, V. Atayan noted that the Program with a 14-month term
envisages to carry out a number of complex measures that will allow
the Unibank to implement and improve the available ones. In
particular, it is expected to open a Department for risk control
within the Program in the Unibank. Moreover, it is envisaged to create
a Department of credit administration in the Unibank's Credit
Department that will deal with the receipt of credit applications,
complete check-up of the package of credit agreements. V. Atayan
underlined that upon the Program completion, the Unibank intends to
carry out relevant measures to get the international rating. For this
purpose, it is scheduled to address such well-known agencies as Fitch,
Moody's and Standart & Poors. V. Atayan also noted that in parallel
with the Program implementation, it is scheduled to carry out works to
implement the principles of Basel II agreement in the
Unibank. Moreover, it is expected to develop and implement a concept
for risk control, a long-term control strategy in the Unibank in 2007
and to change the inner structure of the Bank. Along with it, special
attention during the Program fulfillment will be paid to the
implementation of the system of "culture of risks" that supposes the
estimation of the risk factor.
The ABN AMRO Bank is one of the biggest world banks that has 4.5 thsd
branches in 53 countries of the world. As of December 31, 2006, the
Bank has taken the 8th place in Europe and the 13th place in the world
by the size of assets (987 bln Euro).
According to the analysis of the banking system of Armenia, carried
out by the Agency of Rating Marketing Information (ArmInfo), the
Unibank enters the 10 of the leading Armenian commercial banks by the
main balance indicators. Thus, the Unibank's assets as of Jan 1,
2007, made up $85.2 mln (the 7th place), the credit investments - $8.2
mln (the 2nd place), the deposits of physical persons - $42 mln (the
2nd place). The Bank has completed the year 2006 with a profit of $1.2
mln.