First Ukrainian International Bank
Encyclopedia
The First Ukrainian International Bank was founded on 20 November, 1991, registered with the National Bank of Ukraine
on 23 December, 1991. In April 1992 the Bank started its banking operations. In 1995 the Bank began its cooperation with the European Bank for Reconstruction and Development
(the “EBRD”) and in 1996 - with Deutsche Investitions-und Entwicklungsgesellschaft MbH
(“DEG”). In 1999 each of DEG, the EBRD and International Finance Corporation
(“IFC”), became shareholders with 10% holding. In 2000 Fortis Bank became a shareholder
as legal successor of Bank Mees & Hope N.V. The Bank was also the first Ukrainian bank to institute IFRS financial reporting (in 1991) and one of the first to obtain a credit rating from an international credit rating agency (Fitch
in 1998).
FUIB is a principal member of payment systems VISA International
since 1996 and MasterCard
International since 1993 and a regular participant of the State Retail Deposit Insurance Fund.
(89.87% of shares), which is 100% owned by SCM Group. FUIB holds nostro accounts with 37 banks, while 61 banks hold vostro accounts with FUIB.
. The Bank has been a member of various organizations, for instance, of the Society for Worldwide Interbank Financial Telecommunication
(“SWIFT”) since 1993. In 2001 the Bank joined the Ukrainian First Stock Trading System (PFTS). On December 2010 Central bank of Ukraine
approved a reorganization plan of Dongorbank
by means of merging two banks and accession Dongorbank to FUIB.. On July 16 2011 a consolidation of First Ukrainian International Bank (FUIB) and Dongorbank was completed and starting from July 18 the combined bank actives work under a joint brand FUIB.
National Bank of Ukraine
National Bank of Ukraine is the central bank of Ukraine. Its headquarters building, constructed between 1902 and 1934, is located at no. 9 Institutska St., in Kiev-History:...
on 23 December, 1991. In April 1992 the Bank started its banking operations. In 1995 the Bank began its cooperation with the European Bank for Reconstruction and Development
European Bank for Reconstruction and Development
Founded in 1991, the European Bank for Reconstruction and Development uses the tools of investment to help build market economies and democracies in 30 countries from central Europe to central Asia. Its mission was to support the formerly communist countries in the process of establishing their...
(the “EBRD”) and in 1996 - with Deutsche Investitions-und Entwicklungsgesellschaft MbH
German Investment Corporation
Deutsche Investitions- und Entwicklungsgesellschaft translates into German Investment Corporation. DEG is a member of KfW Bank Group , an arm of the government of the Federal Republic of Germany....
(“DEG”). In 1999 each of DEG, the EBRD and International Finance Corporation
International Finance Corporation
The International Finance Corporation promotes sustainable private sector investment in developing countries.IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States....
(“IFC”), became shareholders with 10% holding. In 2000 Fortis Bank became a shareholder
Shareholder
A shareholder or stockholder is an individual or institution that legally owns one or more shares of stock in a public or private corporation. Shareholders own the stock, but not the corporation itself ....
as legal successor of Bank Mees & Hope N.V. The Bank was also the first Ukrainian bank to institute IFRS financial reporting (in 1991) and one of the first to obtain a credit rating from an international credit rating agency (Fitch
Fitch Ratings
The Fitch Group is a majority-owned subsidiary of FIMALAC, headquartered in Paris. Fitch Ratings, Fitch Solutions and Algorithmics, are part of the Fitch Group....
in 1998).
FUIB is a principal member of payment systems VISA International
Visa
Visa or VISA may refer to:* Visa , a document issued by a country's government allowing the holder to enter or to leave that country...
since 1996 and MasterCard
MasterCard
Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
International since 1993 and a regular participant of the State Retail Deposit Insurance Fund.
Shareholders
The controlling shareholder of the bank is SCM FinanceSCM Holdings
System Capital Management or SCM is a major Ukrainian financial and industrial holding company with headquarters based in Donetsk in the east of the country. The business is controlled by a Ukrainian businessman Rinat Akhmetov who owns 100% of the company shares...
(89.87% of shares), which is 100% owned by SCM Group. FUIB holds nostro accounts with 37 banks, while 61 banks hold vostro accounts with FUIB.
General info
As of May 2011, Moody's rating for FUIB is stable. FUIB is presented by 11 branches and 159 outlets throughout UkraineUkraine
Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
. The Bank has been a member of various organizations, for instance, of the Society for Worldwide Interbank Financial Telecommunication
Society for Worldwide Interbank Financial Telecommunication
The Society for Worldwide Interbank Financial Telecommunication operates a worldwide financial messaging network which exchanges messages between banks and other financial institutions...
(“SWIFT”) since 1993. In 2001 the Bank joined the Ukrainian First Stock Trading System (PFTS). On December 2010 Central bank of Ukraine
National Bank of Ukraine
National Bank of Ukraine is the central bank of Ukraine. Its headquarters building, constructed between 1902 and 1934, is located at no. 9 Institutska St., in Kiev-History:...
approved a reorganization plan of Dongorbank
Dongorbank
Public Joint Stock Company Dongorbank is headquartered in Donetsk, located in eastern Ukraine.-History:The bank was established with the National Bank of Ukraine as Donetsk Joint Stock Bank Aktseptbank on 6 April 1992....
by means of merging two banks and accession Dongorbank to FUIB.. On July 16 2011 a consolidation of First Ukrainian International Bank (FUIB) and Dongorbank was completed and starting from July 18 the combined bank actives work under a joint brand FUIB.
External links
- FUIB official website
- System Capital Management - official website