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Unibank Leads in POS Loans

Following the results of 2020, Unibank became the leader in the number of provided  POS loans. The bank’s share is nearly 20% of the total volume of the POS loan market.

As of December 31, 2020, Unibank’s assets amounted to AMD 238 billion, loans - while AMD156 billion. The number of retail loans provided  in 2020 increased by more than 8% compared to 2019, and the volume -  by 11%. At the end of the fourth quarter of 2020, Unibank is the leader in both the number and volume of POS loans issued in the country.

“One of the strategic tasks of Unibank is to make banking services thoroughly accessible for the population. We are successfully fulfilling this task by developing favorable loan offers for our clients and introducing innovative technologies that simplify access to our products. Our results speak for themselves: the volume of POS loans provided by us has increased by more than 10 times since 2011,” commented Gurgen Ghukasyan, director of Retail business promotion and Sales of Unibank. 

One of the most recent updates in the Unibank infrastructure is the introduction of artificial intelligence technology in credit scoring for unsecured consumer loans. The AI algorithm makes it possible to process large amounts of data much faster and better, analyze customer behavior, and model their profile with higher accuracy. More than 250,000 loan applications were processed with the help of AI in six months.

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