Interbank cooperation

     In 2006, Finance & Credit Bank was very successful in terms of expanding its international cooperation and consolidating its position as a reliable and stable partner to both Ukrainian and international banks – correspondent banks and counterparty banks.

      In 2006, Finance & Credit Bank secured a syndicated loan from international banks worth US$ 35 mln and placed US$ 100 mln worth of euro bonds. Also during 2006, the Bank received funding from Cargill Financial Services International for purposes of financing imports and exports of the Bank's customers.  

      Finance & Credit Bank is a clearing bank for over 45 Ukrainian and international banks and offers its customers the possibility to conduct transactions in various currencies via its own correspondent accounts.
The year 2006 saw a significant increase in the number of payment orders from correspondent banks. To illustrate, while in 2005 the Bank processed more than 40,000 payment orders from correspondent banks, in 2006 this figure more than doubled to exceed 80,000 payment orders.
To diversify risks, expand its network of correspondent banks, and improve terms of service for correspondent banks, in 2006 the Bank opened some new correspondent accounts.

Finance & Credit Bank opened a NOSTRO account with Mizuho Corporate Bank Ltd, Tokyo, and has lending limits established for purposes interbank and trade finance transactions by such banks as American Express Bank (USA), Commerzbank AG (Germany), HVB Munich (Germany), JSC Kazcommercebank (Kazakhstan), JSB Promsvyazbank (Russia), JSC Sobinbank (Russia), and others.

In 2006, the main correspondent banks of Finance & Credit Bank were as follows:

•  US dollars – Citibank NA, New York; American Express Bank, New York. 
• Euros – American Express Bank GMBH, Frankfurt; Commerzbank AG, Frankfurt, VTB Bank (Deutschland) AG, Frankfurt; WESTLB, Dusseldorf.  
• Russian rubles – JSB Interprombank CJSC, Moscow; JSC Promsvyazbank CJSC, Moscow.  
• British pounds sterling – Citibank, NA, London. 
• Japanese yens - Mizuho Corporate Bank, Ltd, Tokyo.  
• Kazakh tenges – JSC Kazcommercebank, Almaty. 
• Byelorussian rubles – JSC Priorbank, Minsk; JSC Belvnesheconombank, Minsk. 
• Swiss franks and bank metals – Credit Suisse, Zurich, and others. 

      As of January 1, 2007, Finance & Credit Bank had NOSTRO accounts with 46 Ukrainian and international banks, LORO accounts with 87 Ukrainian and international banks, of which 45 LORO correspondent banks are the most active.  
      Throughout 2007, the Bank intends to introduce an institution of personal managers for its correspondent banks with a view to improving the quality of service and promptly addressing issues faced by correspondent banks, as well as increasing the number of services for correspondent banks, offering them new price packages, and expanding the network of correspondent accounts.