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Depository services
The department of depositary services of the Finance and Credit Bank boasts its highly-qualified specialists certificated by the State Commission on Securities and Stock Exchange Market who have rich experience in depository activities and stock exchange market of Ukraine.
Banking operations related to securities of depositors are performed on the basis of the software product of the depository OJSC "Inter-Regional Stock Exchange Union" within the framework of the National Depository System, which is currently utilized by more than 100 fiduciaries of securities.
The Finance and Credit Bank (license AB #113408 of the State Commission on Securities and Stock Exchange Market for professional depository activity of the custodian dated from 27 October 2004) provides (resident and non-resident) corporate clients and individuals with a full depository services:
opening of the securities account
custody of securities
immobilization of documentary securities for their further electronic circulation
registration of the transfer of title to securities by order of clients
informing the client about all corporate actions of the issuer regarding the change of rights fixed by securities with these changes registered on securities accounts and providing the customers with any information received from the issuer or the registrar
earning from securities with the subsequent transfer of funds to deposit accounts
furnishing the securities holders with the statements of their accounts and funds flow statements for any period requested
services of the depository of investment funds and mutual funds of investment companies
full servicing of issuers that issued securities in non-documentary form, custody, record-keeping and registration of securities transferred as a collateral or encumbered with other liabilities on the securities account
delivery of securities against payment
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Depository services do not impose to VAT.
Services are paid for in hryvnyas at the date of invoicing.
Subscriber fee is not charged to an account if no securities are on the same account.
If a tariff for a transaction is not on the tariff list, a supplementary agreement shall be concluded.
The extensive network of branches and departments enable the customers to utilize the services of the Depository in all regions of Ukraine. The Bank's liabilities are secured by its own equity, which amount is the highest amongst the institutional non-banking actors of the stock market.
As of 01 January 2006, the Bank served 381 depositors, and the total number of discount operations performed by the Finance and Credit Bank Depository reached 2 414 and amounted UAH 5 384 million. In 2005, the volume of depository assets at par grew by 2.2 times as compared to 2004 and made up UAH 1 695 million.
During the reporting year the Bank performed 29 transactions concerning immobilization of securities in documentary form, prepared 357 registers of the securities holders by registrars' requests.
By the fourth quarter 2005 outcomes, the Finance and Credit Bank is on the eighth place in the PARD (Professional Association of Registrars and Depositories) depository rating.
PARD evaluated the Finance and Credit Bank Depository's activity by: total number of the discount transactions performed since the 2005 year beginning, volume of the performed discount transactions, number of depositors' accounts, and volume of the depository assets.
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