Shareholder of FUIB and Renaissance Capital does not plan for their merger

The shareholder of First Ukrainian International Bank (FUIB) and Renaissance Capital bank (Renaissance Credit brand) does not intend to merge these financial institutions, they will continue functioning as separate businesses. Thus was stated by the Chairman of the Supervisory Board of FUIB Ilya Arkhipov.

According to Mr Arkhipov, the merger of FUIB and Dongorbank has been successful, and resulted in significant business volumes growth along with operating expenses decrease, better corporate governance at banks.

At the same time the banker stated: “Purchase of Renaissance Credit bank was made as penetration into the new segment – consumer lending, and we decided not to merge this bank. Also, we do not plan for the merger in the future, as these are different banking business areas.”

Source: UNIAN information agency