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Finance and Credit Bank totals up the 1H 2010 results

22.07.2010


press-release

     "The right to success" is not just a slogan of the Bank and philosophy of work of a big professional team of like-minded people. Finance and Credit Bank is one of the largest players in the financial market showing the growth of the major bank indicators and successful work. The 1H 2010 results of this financial institution became a vivid acknowledgement of it.

      Finance and Credit Bank net assets from the beginning of the year grew by almost 15% and as of 01.07.2010 made up UAH 22.202 billion, the Bank's authorised capital was UAH 2 billion. The operational profit of the Bank following the results of 1H 2010 made up UAH 357.6 million.

      Financial result of the Bank as of 01.07.2010 is a minus UAH 54.301 million.

      Reserves on risks covering by all kinds of active operations made up UAH 1.349 billion.

      In 1H 2010 under the programme for re-structuring eurobonds worth USD 100 million, Finance and Credit Bank paid to Eurobonds holders 5% of the initial issue amount, thus, completely satisfied the condition of re-structuring approved in December 2009. Besides, the Bank carried out the planned payment of the coupon income in the amount of over USD 5.187 million under the terms of Eurobond issue. The total paid-out amount made up over USD 10 million.

     In 1H 2010, Finance and Credit Bank repaid USD 23 million of foreign loans within the limits of the attracted syndicated loans for the amount of USD 112.5 million.

     From the start of the year, the volume of funds attracted by the Bank under the terms of subordinated debt amounted to USD 63.5 million.

     In April 2010, the "Credit-rating" agency assigned a long-term credit rating by the national rating scale-- level uaBBB (level of investment class)--to Finance and Credit Bank. The outlook is stable.

     The Bank continues to strengthen its position in on-line services provision. Following the results of 1H 2010 the "Internet bank" system is used by over 6 thousand customers.

     As of 01.07.2010 about 134 thousand time deposit accounts and over 240 thousand current accounts were opened by individual customers with Finance and Credit Bank. The volume of funds on retail time deposit accounts made up UAH 4.836 billion as of 01.07.2010, which makes the total of over UAH 5.247 billion that Finance and Credit Bank has on deposit and current accounts of individual customers.

     From the beginning of the year, the Bank offered its customers several new attractive products: the Fresh Breeze package servicing for seamen individual customers, the deposit in British pounds sterling, and deposit in Russian roubles. Also customers of the Bank may take advantage of opening a current account in Russian roubles.

    One of client-oriented Bank decisions in 1H 2010 was a programme "Become the Bank agent". Under its terms agents of the Bank physical persons and entities engaged in entrepreneurial activity may receive an additional income.

     As of 01.07.2010 over 36 thousand legal entities are served in the Bank. The volume of funds on their current and deposit accounts made up UAH 2.664 billion. The loan portfolio of legal entities made up UAH 13.528 billion as of 01.07.2010. The Bank serves over 32.5 thousand of SME customers.

     In March 2010, the AVERS international money transfer system operating in the Bank celebrated its 5-th anniversary. In June 2010, the Second International conference "Markets for money transfers, cash currency and bank metals" was successfully held in Kiev. It was organised by Finance and Credit Bank and the AVERS money transfer system. The event united over 100 experts – representatives from both Ukrainian and foreign companies. Among them were the systems of remittances, Ukrainian and foreign banks, companies engaged in manufacture of modern banking equipment.

     From the start of the year, the number of transactions through the international money transfer system of AVERS of Finance and Credit Bank increased by 17% and nearly reached 17 thousand transactions. Over 1H 2010 the system turnover increased by 19% and made up more than USD 153 million multicurrency.

     As of 01.07.2010 Finance and Credit Bank issued over 1.256 million payment cards of international payment systems VISA and MasterCard. The Bank's infrastructure of card business consisted of 4382 trade and service points and 543 pay-out locations. As of 01.07.2010 the Bank implemented 4762 salary projects.

     Many customers of the Bank looked forward not only to the World championship FIFA 2010 in the Republic of South Africa, but also to the drawing of prizes at the first stage of the Fan-card promo event. Sergey Shapovalov, a customer of Odessa regional administration of the Bank, got the grand prize and could visit the World football championship in the Republic of South Africa. The general prize fund of the promo included a tour for two to the World championship FIFA 2010, 3 LCD-TVs, tourist sets.

     Being one of the largest importers of foreign currency, Finance and Credit Bank imported USD 143 million, over Euro 24 million into the territory of Ukraine from the start of 2010, and also sold about 369 kg of bank gold. Export of currency made up Euro 112 million and USD 40 million from the beginning of year.

     As of 01.07.2010 the Bank's network consists of 16 bank branches and 305 off-balance outlets.


Contact for Mass Media Representatives:

Yuliya Zagorodnya
Head of Informational and Media Support
Bank Finance and Credit
Phone: (044) 499-26-48
å-mail: yuliya.zagorodnya@fcbank.com.ua



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