21 September 2010, Tuesday
On September 10, 2010, the Supervisory Boards of FUIB (First Ukrainian International Bank) and Dongorbank have recommended the Banks’ shareholders to merge two banks by means of accession Dongorbank to FUIB. The decision will come into force upon its approval by the Banks’ shareholders at their general meetings.
On September 10, 2010, the Supervisory Boards of FUIB (First Ukrainian International Bank) and Dongorbank have recommended the Banks’ shareholders to merge two banks by means of accession Dongorbank to FUIB. The decision will come into force upon its approval by the Banks’ shareholders at their general meetings.
The key goal of the cooperation – enhancement of efficiency and competitiveness of the Group’s banking business, which will be achieved through expansion of the banking business and strengthening of the banks’ positions in the regions.
Commenting on the merger of two banking assets of SCM Group, Ilya Arkhipov, Director of Business Development of SCM, Chair of the Supervisory Boards of FUIB and Dongorbank, noted: “Financial business is of strategic importance for SCM and, in our opinion, has significant sound growth potential. This is why, the key goal of the merger of FUIB and Dongorbank is to create more scaled and efficient platform for further growth. I am confident, that the merger will ensure enhanced reliability of the Bank and improved management quality and business efficiency. This is why we will continue improving the service quality and will offer innovative products to our clients.”
According to Mr. Arkhipov, the merger of two Banks of SCM Group was preceded by thorough preparation: “The merger of FUIB and Dongorbank – the step planned within the framework of the development strategy of the banking business of SCM, on implementation of which we worked for a significant time. Now is the most optimum time for integration: the Banks are completely ready for it and the situation in the Ukraine’s financial services market has stabilised at the moment. This is why, I am sure that the merger will be carried out smoothly. We always adhere to our main principle – rigorous discharge of all obligations to our employees, partners, and creditors.”
”I am confident that the post-merger Bank will have all possibilities for efficient implementation of new plans – clear strategy, professional team, strong brand and shareholders’ support,“ Ilya Arkhipov adds.
Within the framework of the banks’ merger it is supposed to optimise the management structure, unify a number of services and fees, develop jointly new products and client servicing programmes.
‘Integration of two banking assets of SCM Group – FUIB and Dongorbank – is the first step to implementation of the new Development Strategy for 2010-2014, the key goal of which is to become one of the leaders of the Ukraine’s banking system, first of all, in terms of quality of service rendered to our clients,’ Konstantin Vaysman, Chairman of the FUIB Management Board, noted “According to the Bank Development Strategy, the key principle of the FUIB business activity will be utmost attention to the clients and thorough understanding of their needs. FUIB will remain a modern hi-tech bank offering first-class quality service to our clients alongside with innovative products,” Mr Vaysman says. “The focus of our attention will be on development of the business structure meeting the best world practices, and cooperation with our clients will be built on the grounds of partnership philosophy. We strive for ensuring the best service quality in the banking business in full compliance with our motto “Comfortable Bank”.
“The merger is beneficial to both banks, as it presupposes unification of processes and products, extension of the services range, significant enhancement of performance efficiency . Still, the clients will be the one who will benefit the most, as two strong players - national and regional - will unite. This means that in the Ukraine’s banking market the bank with nation-wide geographical presence and strong positions in the regions will appear,” Natalya Kosenko, Chairman of the Management Board of Dongorbank, says.
Reference:
SCM is a professional investor that owns and controls assets in mining and metals, power generation and distribution, telecommunications, banking, insurance, media as well as in retail and real estate.
SCM Group includes Metinvest Holding, DTEK, VegaTelecom Group, Segodnya Multimedia, TRK Ukraina, ESTA Holding, Ukrainskiy Retail and others.
SCM is 100% owned by businessman Rinat Akhmetov.
FUIB (www.pumb.ua) belongs to the group of the largest Ukrainian banks, it is a universal bank, especially active in commercial, retail and investment banking operations. The Bank was founded in 1991. The Bank major shareholder is SCМ Finance LLC (89.87% of the share capital). At present, the Bank branch network comprises 11 branches and 125 sub-branches throughout Ukraine.
Dongorbank (www.dongorbank.com) – modern, transaprent, dynamically developing regional bank. The Bank was founded in 1995, offering a full range of banking services to both individual and corprate clients. The Bank major shareholder is SCМ Finance LLC (99.99% of the share capital). Bank regional network comprises 54 sub- branches.
