On July 4 2009 Norvik UCO celebrated its 3d birthday. Every birthday for us is the time of summing up the results of our hard work and creating new plans for the future creative achievements.

It is important to stress that during such a short period Norvik UCO succeeded in creating a reputation of a reliable, stable and innovational organization, always ready to surprise its clients with new even more comfortable innovations.

Norvik UCO not only endured all the financial changes of these three years, but also survived the current economic crisis. As the executive director of Norvik UCO Tigran Bostanjyan pointed out, the Armenian financial sector has not only great potential, but also a serious sustainability against the changes of the world economy. This fact gives huge opportunities to our country. Of course one should not forget that the crisis gives good opportunities to develop only to those who is able to restructure its activities, minimize the expenses and maximize the effectiveness of work.

During these three years the main guarantors of the intensive growth of the organization were first of all the professional work of the personnel and the rich experience and continuous financing on behalf of the stockholder in Latvia – “Norvik Bank” JSC.

High performance of “Norvik Bank” also positively influenced the activities of Norvik UCO. According to the statistical data of the Association of commercial banks of Latvia, “Norvik Bank” now occupies the 7th place among the Latvian banks by the volume of its capital and reserves. Besides, it stable pays back its syndicated loans in time. One of such loans equal to 22 million Euros was fully paid back in December 2008, and another loan equal to 25 million Euros is going to be paid back fully on July 8 2009.

In the opinion of T. Bostanjyan, during the last year the liquidity of many Armenian banks has decreased, while the loan terms (percents) have increased. Nevertheless, Norvik UCO not only maintained its stability, but also continued offering new financial services in the Armenian market.

Currently Norvik UCO is well-known as the leader in implementation of modern technologies that will help the clients make all the payments without even leaving their homes or workplaces. This factor also helps the clients to save a lot of time and finance.

Since 2008 Norvik has started the implementation of ‘loans on the spot’ system which allows giving consumer loans in on-line regime from the shops that already joined the system. At the same time, the clients of Norvik UCO now can make the loan payments via the Internet through E-dram system and with the help of “TelCell” and “Tandem” terminals.

Another important aspect is that during the recent months Norvik UCO has continued to enlarge the scope of the products and services offered by the organization and also has implemented some innovational solutions for the existing services.

In 2009 Norvik UCO offered another financial service - special system My Norvik, created on My.Norvik.am website, which helped a lot to satisfy the needs of our clients.

All the factors mentioned above could not but affect the rating data. Therefore, Norvik continues to occupy the leading position among the Credit Organizations of Armenia due to its correct strategies aimed at maintaining stability, comfort of services and raising the trust on behalf of the clients. Time and comfort of the clients is very important for Norvik UCO.

The mission of Norvik is to be an effective universal financial institution. A lot of what has been done during three years is a good fundament for implementation of perspective development of the organization in the future. Already today we are working hard to keep on growing, make optimal use of our experience and potential not forgetting about the needs of our clients. Tens of thousands of our clients trust us. Together we can achieve our aims.

To sum up, we would like to thank all those who were with us all these three years, our employees, partners and clients for their cooperation and trust. Only with you our company develops and steadily moves towards the implementation of its aims.