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Tuesday, March 26, 2019

Survey ranks FUIB as leader in information disclosure

First Ukrainian International Bank announced on Friday that it was recognized as the leader in information disclosure quality in 2013, according to a recent survey.

The Ukrainian Credit Rating Agency's "Information Transparency of Banks" survey ranked the information disclosure by FUIB at 77.13 percent. FUIB was the leader in information disclosure quality for the second straight year.

FUIB said the survey results do not reflect the financial reliability of a bank but rather the readiness of banks to disclose the information to the public.

"First Ukrainian has been for many years pursuing the policy of openness and transparency," Sergey Chernenko, the chairman of the management board of FUIB, said. "We believe that only adhering to these principles it is possible to build the long lasting relationship of trust with our customers and partners. (The) bank has repeatedly confirmed the compliance of its information disclosure standards with the international best practices."

As part of the survey, UCRA analyzed the information at the websites of 30 banks in Ukraine with the largest assets. The average ranking for information disclosure in 2013 was 57.94 percent.

"We are not confined to the already achieved and continue raising these standards with each year," Chernenko said.

Details of the rankings are available at the UCRA's website.