The First Ukrainian International Bank (FUIB) was the top-rated bank in the country, based on factoring portfolio, in 2014, the bank said on Tuesday.
Its portfolio amounted to approximately $40.5 million, and the bank's overall market share saw an increase to 23.7 percent after starting at 8.6 percent at the end of 2013.
“Given the worsening economic situation in the country, it is vital for a business to have a reliable and flexible financial partner," Andrey Koval, head of FUIB's factoring division, said. "We have reduced the time of factoring handling to five business days. We worked with clients proactively, providing consultancy and helping with document execution. We paid special attention to small- and medium-size businesses. As a result, we have significantly improved our position in the market and increased our client base more than three times."
The report said 70 percent of the bank's factoring portfolio consists of small and medium-size businesses, which have allowed it to be a leading institution in that market as well.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme