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Thursday, August 24, 2017

FUIB rated Ukraine's top bank in 2014 based on portfolio might

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.

Organizations in this story

First Ukrainian Bank - Ukraine 4 Andriivska St Kyyiv 04070, Ukraine

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