The portfolio of avalized promissory notes of the First Ukrainian International Bank (FUIB) reached a record level of UAH 647 million, and its total increase compared to last year was more than 50%. With such indicators, the bank continues to hold leading positions and be among the top three market leaders in terms of promissory note transactions.
Agricultural producers' interest in in this FUIB's financial instrument is primarily related to its profitability.
Thus, an avalized FUIB promissory note allows farmers to pay the distributor for seeds, fertilizers and PPE on the terms of deferred payment. With its help, cleints can finance up to 100% of the cost of goods in the spring, and pay for it in the fall. The total price of the purchased products will be more favorable than on the terms of a commodity loan from a distributor, and the cost of the promissory note avalization operation will cost the note issuer 4-5 times cheaper than a standard bank loan.
FUIB's cooperation with most international manufacturers of plant protection products and seeds, which accept bank bills, also stimulates the interest of clients. Among the most famous of them are "Syngenta", "BAYER", "BASF", "DUPONT" and "SUFFLE AGRO UKRAINE".
"The popularity of the avalized promissory note as a means of payment among agricultural producers is quite high. More and more clients see a promissory note as a tool that allows them to flexibly manage their financial resources without diverting working capital,” said Oleksandr Kamarali, FUIB's head of promissory note operations.
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