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FUIB continues to increase trade finance volume
08 July, Thursday
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First Ukrainian International Bank (FUIB) continues to increase the pace of development in the trade finance. As of July 1, 2021, FUIB's portfolio of open bank guarantees and letters of credit exceeded UAH 4 billion, and the total size of the trade finance portfolio reached almost UAH 8 billion (including received guarantees and letters of credit, trade finance collection, and own trade finance operations).

Achieving such results was made possible by a high level of trust in FUIB, product development, business scope expansion and a range of quality solutions for clients, as well as the availability of blank limits from foreign partner banks.

FUIB supports international clients' transactions with counterparties from many countries of the world. Thus, according to the results of 2020, FUIB is one of the few banks that was awarded the Trade Finance Award 2020 by Commerzbank AG, Germany for successful and high-quality cooperation. Positive history of work with partner banks, time-proven reputation and professionalism give FUIB the opportunity to use lines in foreign financial institutions on favorable terms to confirm letters of credit and provide guarantees. The total amount of trade finance transactions (client and bank) confirmed by foreign banks in July 2021 exceeded USD 100 million, and international agreements using trade finance instruments were implemented with foreign companies and counterparties from more than 45 countries.

According to NBU statistics, in 2020 the dynamics of growth of the most popular documentary instrument in Ukraine - bank guarantees - exceeded the average level of such growth in the banking system by more than two times, and FUIB, in turn, entered the TOP-5 banks in the market in terms of the portfolio of guarantees. In the first half of 2021, their portfolio in the bank grew by another UAH 400 million which strengthened FUIB's position among the leaders.

"In the conditions of high competition prevailing in the market of trade finance transactions of Ukraine, FUIB has shown significant progress and deservedly took a place among the TOP-5 Ukrainian banks in terms of volume and growth rate. We plan to further develop in this area, as we define the market of documentary operations as one of the priority areas of our activity,” said Serhiy Mahdych, FUIB's Deputy Chairman of the Board on corporate business.

For almost 30 years, FUIB has been offering services in the trade finance business to clients from various fields in the domestic and international markets: automotive business, pharmaceuticals, agribusiness, retail, etc. Trade finance instruments minimize the risk of non-compliance with contract obligations and non-payments, minimize or eliminate political and economic risks, provide opportunities to enter new markets, increase supply and/or procurement, and efficiency of financial management (including at a lower cost than ordinary lending).

 

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