The First Ukrainian International Bank or FUIB (Ukrainian: Перший Український Міжнародний Банк) is one of the leading Ukrainian banks, largely owned by the oligarch

Rinat Akhmetov Rinat Leonidovych Akhmetov, ; russian: Ринат Леонидович Ахметов, ; tt-Cyrl, Ринат Леонид улы Әхмәтов, translit=Rinat Leonid uly Äkhmätov (born on 21 September 1966) is a Ukrainian billionaire and b ...

associated

SCM Holdings System Capital Management or SCM ( uk, Систем Кепітал Менеджмент) is a major Ukrainian financial and industrial holding company established in 2000 in Donetsk in the east of the country and since 2014 headquartered in Kyi ...

. It was founded in 1991 and has its main office in Kyiv, Ukraine. As of January 1, 2018, the bank serves 1.2 million private and more than 40,000 corporate clients.

History

The First Ukrainian International Bank was founded on 20 November 1991, registered with the

National Bank of Ukraine National Bank of Ukraine ( uk, Національний банк України) or NBU ( uk, НБУ) is the central bank of Ukraine – a government body responsible for unified state policy in the field of country's monetary circulation, includ ...

on 23 December 1991. In April 1992 the Bank started its banking operations. In 1995 the Bank began its cooperation with the

European Bank for Reconstruction and Development The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially focus ...

(the “EBRD”) and in 1996 - with Deutsche Investitions-und Entwicklungsgesellschaft MbH (“DEG”). In 1999 each of DEG, the EBRD and

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of t ...

(“IFC”), became shareholders with 10% holding. In 2000 Fortis Bank became a

shareholder A shareholder (in the United States often referred to as stockholder) of a corporation is an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal own ...

as legal successor of Bank Mees & Hope N.V. The bank was also the first Ukrainian bank to institute

IFRS International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing the company's fina ...

financial reporting (in 1991) and one of the first to obtain a credit rating from an international

credit rating agency A credit rating agency (CRA, also called a ratings service) is a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely principal and interest payments and the likelihood of default. An agency may ra ...

( Fitch in 1998). FUIB has been a principal member of payment systems

Visa Visa most commonly refers to: *Visa Inc., a US multinational financial and payment cards company ** Visa Debit card issued by the above company ** Visa Electron, a debit card ** Visa Plus, an interbank network *Travel visa, a document that allows ...

since 1996 and Mastercard International since 1993 and a regular participant of the State Retail Deposit Insurance Fund. In January 2022, the bank plans to launch a service of SWIFT payment to a broker in the United States to buy/sell securities on the US stock market through the application of a partner company, said Oleksandr Shcherbakha, Director of the Bank's Retail Sales and Development Department.

Shareholders

The controlling shareholder of the bank is the

associated SCM Finance (92.24% of shares), which is 100% owned by SCM Group. FUIB holds nostro accounts with 37 banks, while 61 banks hold vostro accounts with FUIB.

General info

As of March 2012, Moody's rating for FUIB is stable. FUIB is presented by 168 outlets throughout

Ukraine Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inv ...

. The Bank has been a member of various organizations, for instance, of the

Society for Worldwide Interbank Financial Telecommunication Swift or SWIFT most commonly refers to: * SWIFT, an international organization facilitating transactions between banks ** SWIFT code * Swift (programming language) * Swift (bird), a family of birds It may also refer to: Organizations * SWIFT, a ...

(“SWIFT”) since 1993. In 2001 the Bank joined the Ukrainian First Stock Trading System (PFTS). In December 2010 Central bank of Ukraine approved a reorganization plan of

Dongorbank Public Joint Stock Company Dongorbank is headquartered in Donetsk, located in eastern Ukraine. History The bank was established with the National Bank of Ukraine as Donetsk Joint Stock Bank Aktseptbank on 6 April 1992. In July 1995 the bank was ...

by means of merging two banks and accession Dongorbank to FUIB. On July 16, 2011 a consolidation of First Ukrainian International Bank (FUIB) and Dongorbank was completed and starting from July 18 the combined bank actives work under a joint brand FUIB.

Controversy

According to

Serhiy Leshchenko Serhiy Leshchenko ( uk, Сергій Анатолійович Лещенко, 30 August, 1980) is a Ukraine, Ukrainian ex-journalist, politician and public figure, Member of Parliament (8th Ukrainian Verkhovna Rada). From 2002 until 2014 Leshch ...

in 2017, both Phil Griffin and Leonid Avrashov ( uk, Леонід Аврашов), who are associates of

Paul Manafort Paul John Manafort Jr. (; born April 1, 1949) is an American lobbyist, political consultant, and attorney. A long-time Republican Party campaign consultant, he chaired the Trump presidential campaign from June to August 2016. Manafort served ...

, had credit cards with First Ukrainian International Bank. According to

Mustafa Nayyem Mustafa Masi Nayyem ( uk, Мустафа Найєм, ps, مصطفی نعیم) is an Afghan-Ukrainian journalist, MP, lecturer at the Kyiv School of Economics, and public figure who was influential in sparking the Euromaidan in Ukraine. Formerly, ...

in 2007, Leonid Avrashov headed Black, Manafort, Stone and Kelly's

Saint Petersburg Saint Petersburg ( rus, links=no, Санкт-Петербург, a=Ru-Sankt Peterburg Leningrad Petrograd Piter.ogg, r=Sankt-Peterburg, p=ˈsankt pʲɪtʲɪrˈburk), formerly known as Petrograd (1914–1924) and later Leningrad (1924–1991), i ...

office. On September 2, 2014, Manafort stated that Avrashov was with the

International Republican Institute The International Republican Institute (IRI) is an American nonprofit organization. Most of its board is drawn from the Republican Party. It is committed to advancing freedom and democracy worldwide by helping political parties to become more iss ...

References

External links