27 October 2011, Thursday
First Ukrainian International Bank (FUIB) is among three leaders in information transparency by Ukrainian banks according to the research by Credit-Rating agency, the Financial Initiatives Agency and the Financial Sector Development Project (FINREP) of the U.S. Agency for International Development (USAID).
According to the 2011 research findings FUIB ranked No 2 in the Information Transparency and Disclosure by Ukrainian banks, its information disclosure score being 62.07% (the average score for TOP 30 banks in the ranking being 46%).
FUIB was ranked No 2 in the Transparency and Disclosure by Ukrainian Banks 2010 joint research of Standard & Poor’s rating agency with support from the Financial Initiatives Agency and the USAID’s Capital Markets Project. Also, in 2011 FUIB outperformed other Ukrainian financial institutions ranking No 1 in the Ukrainian Index of Transparency and Accountability of Companies supported by the USAID’s Ukraine National Initiatives to Enhance Reforms Project (UNITER). Thus, the second year running FUIB is among the leaders in information transparency.
Over the year FUIB has taken measures aimed at enhancing its information transparency and disclosure standards guided by internationally recognised best practice and recommendations on the 2010 search findings. FUIB presented to general public its 2010 Annual Report complying with the best international standards and made available the information and documentation relating to the Bank’s business activity, including particulars of the FUIB’s corporate governance, shareholding structure, Risk Management Policy, Information Disclosure Policy, Code for Business Conduct and Corporate Ethics.
As one of the largest banks with Ukrainian capital (No 2 by assets among privately-owned banks and No 9 by assets in the Ukraine’s banking system) FUIB does its best to enhance the transparency of its business and comply with the internationally recognised information disclosure standards understanding the importance of the Bank’s business transparency for the general public, business and investment community, the Bank’s customers and shareholders.
“The research of the banks’ transparency is an important initiative for the Ukraine’s banking system, and we do hope that next year more banks will get interested in enhancing their business transparency standards, as this strengthens confidence in the banking system as a whole. For FUIB, business transparency and information disclosure is the axiom and the cornerstone we build our business on. These principles reflect FUIB’s mission and values,” says Konstantin Vaysman, Chairman of the Management Board.
