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Tuesday, January 21, 2020

FUIB says 2014 documentary volume makes it top-tier bank

The First Ukrainian International Bank (FUIB) said on Monday that it ranked among the top five banks and financial institutions in volumes and profits from documentary transactions in 2014.

The bank reported earnings from fees and commissions totaling approximately $4.05 million last year.

“Last year was the most difficult of all 20 years of our work on the market of documentary transactions," FUIB Trade Finance and Documentary Transactions Department Head Konstantin Kamarali said. "Significant devaluation of the national currency and military actions in Donbass created unprecedentedly complicated conditions for work. Nevertheless, we managed to retain the volumes of transactions and attracted new clients due to better conditions and service quality. In 2015, we will offer new services, such as guarantees for foreign distributors and agricultural companies."

The bank said documentary transactions remain a viable source of funding, specifically in Ukraine's difficult current economic climate.

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First Ukrainian Bank - Ukraine

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