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Thursday, March 21, 2019

Renaissance Capital Bank now under FUIB control

The National Bank of Ukraine's (NBU) Banking Regulation and Supervision Directorate approved efforts to reorganize Renaissance Capital Bank, placing it under the control of First Ukrainian International Bank (FUIB), FUIB said Tuesday.

As a result of this, FUIB takes on obligations and rights under the credit bank with regard to its clients and partners. The NBU will ensure that both financial institutions follow rules and regulations set by the national bank and the Anti-Monopoly Committee; this process should be completed in 2015. FUIB said work patterns of the institutions will not change, and client relations will remain as they are.

In October, FUIB shareholders decided to make the move. Chairman of the FUIB Supervisory Board Illia Arkhipov said it would bring the bank closer to its goal of becoming a universal bank, as well as one of the leading banks in the country's financial sector.

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First Ukrainian Bank - Ukraine

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