According to the performance results for 2012 First Ukrainian International Bank (FUIB) maintains leading positions in the documentary operations market. The documentary operations effected by the Bank totalled USD 356.7 million, which is 47% up year-over-year (2011: USD 243 million). The Bank’s fee and commission income fr om documentary operations grew by 25% to USD 4.8 million.
“Over the year 2012, against the background of downgrade of international ratings assigned to Ukraine it was rather difficult for banks fr om Ukraine to maintain the credit lim its opened by foreign banks. Nevertheless, and even in conditions of tough competition FUIB managed to provide its customers with the best service terms and customer service quality. Thanks to professionalism of the FUIB’s team the number of corporate customers throughout 2012 grew to 235 companies,” says Konstantin Kamarali, Head of Trade Finance and Documentary Operations Division of FUIB.
The main advantage of the documentary products for customers of FUIB is their lower cost as compared to standard banking loans. Also, documentary instruments enable to minimise the risks of default on contractual obligations, deliberate default on payment, and to minimise political risks (changes in the law, international sanctions, and embargo).
High reputation and positive history of cooperation with foreign banks let FUIB use the lines with international financial institutions on advantageous for the customer terms as regards both confirmation of letters of credit, issue of guarantees, and arrangement of trade financing.
FUIB has the two decade experience in domestic and international markets of documentary operations and trade financing. For many years FUIB remains among TOP 5 banks leading in volumes of such operations in Ukraine. FUIB offers to its customers post-export financing from banks in a number of countries of the Western Europe, North and South Americas, Middle East (inter alia, such countries as India, Pakistan, Sri Lanka, Bangladesh, Algeria, Egypt, Malaysia and Saudi Arabia). Moreover, FUIB assists in issue of direct guarantees to the benefit of the counterparties from the said countries without their confirmation by foreign banks. FUIB is one of two banks in Ukraine that have the financing lim it with Hermes, international export credit agency.
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