31 December 2010, Friday
On December, 22, the National Bank of Ukraine (NBU) has granted its permission for reorganising Dongorbank by way of accession by First Ukrainian International Bank (FUIB).
“Now, having obtained the Regulator’s permission for consolidation of two financial institutions of the SCM Group, we can speak of a legal commencement of the FUIB and Dongorbank’s integration process,” Ilya Arkhipov, Chairman of the Supervisory Boards of both banks, says. “We see that the financial services market of Ukraine has stabilised and our banks are ready for the integration. As the shareholders of FUIB and Dongorbank we are absolutely confident that the consolidation will pass smoothly and expect it to be completed in the second half of 2011.”
Also, the NBU endorsed the reorganisation plan based on Dongorbank’s joining with FUIB, approved by the common shareholder (SCM Finance LLC).
“Another integration process stage being completed, now we can focus on the consolidation of two banks, that is, on implementation of the Development Strategy for the next four years,” Konstantin Vaysman, Chairman of the FUIB Management Board, comments. “The united bank will face ambitious goals: strengthening positions in the domestic financial market, enhancing efficiency and, most importantly, customer service. We are confident that a clear Strategy, professional team and the shareholders’ support will enable us to become one of the leading banking institutions in Ukraine.”
