Finance and Credit Bank totals up the 1Q 2011 results

press-release

       The dynamic start is the prerequisite for a successful fiscal year. 

     The net assets of Finance and Credit Bank had grown by UAH 800 million from the start of the year and made up UAH 23.176 billion by April 01, 2011. The authorised capital of the Bank amounted to UAH 2 billion. The Bank's results of the first quarter showed the operating profit of UAH 201.7 million.

       As of April 01, 2011, the financial result of the Bank was over UAH 65 million.

    UAH 1.495 billion is the amount of reserve funds accumulated to cover risks associated with all types of active operations.

     In 1Q 2011 under the approved capitalisation programme, Finance and Credit Bank attracted $20 million from a foreign investor that is "Bloomshine limited" (Great Britain) under the terms of a subordinated debt. The funds are borrowed for the term of 7 years.

      In March 2011, the "Credit Rating" agency confirmed the long-term credit rating of Finance and Credit Bank that is uaBBB (investment class level) according to the national rating scale. The outlook on the rating is stable.

    As of April 01, 2011, the Bank's loan portfolio amounted to UAH 19.371 billion, inclusive of the corporate loan portfolio of UAH 15.273 billion as of April 01, 2011. 

      In 1Q 2011 the Bank restructured over UAH 40.5 million of loans to both individual customers and legal entities.

     As of April 01, 2011, there were 147 thousand time deposits and nearly 253 thousand current accounts opened for individual customers with Finance and Credit Bank. From the start of the the year the volume of funds on retail time deposits had increased by over UAH 500 million to reach UAH 6.301 billion by April 01, 2011. The funds placed on deposit and current accounts of private clients of Finance and Credit Bank was UAH 6.780 billion.     

     In 1Q 2011 the most demanded deposit programmes were: the F&C "Pension Deposit" with the possibility of deposit replenishment and monthly repayment of accrued interest, the F&C "Standard" deposit with monthly repayment of accrued interest and the possibility of  deposit replenishment, and a number of deposit programmes providing the highest interest rate: F&C "Classic" with the repayment of accrued interest upon the deposit maturity date, without the possibility to replenish the deposit. In 1Q 2011 the most sought-after deposits were those for 6 months and for 370 days with the highest interest rates. 

      As of April 01, 2011, the amount on card accounts intended for payment of pensions and social benefits to clients of Finance and Credit Bank reached nearly UAH 120 million.

     In March 2011 Finance and Credit Bank and the Ukraine International Airlines company launched a co-branded project on the basis of UIA's Panarama Club loyalty programme. Under this project the Bank issues Visa Classic and Visa Gold credit and debit cards of exclusive design. After ordering a card at any of the Bank's outlets, a client becomes a Panarama Club member and gets access to a wide range of benefits. When paying by an "Awesome Flight Card" for any goods, clients will be awarded 2 bonus miles for each $3 paid with the card. The accumulated miles can be exchanged for award airplane tickets, discounted airplane tickets and many other things.

     As of April 01, 2011, Finance and Credit Bank services approximately 565 thousand payment cards of the international VISA and MasterCard payment systems.

     The Bank's own card business network consists of 3,356 points-of-sale and 563 payout locations. 

     From the start of the year, Finance and Credit Bank executed over 86 thousand transactions through AVERS, the international money transfer system. Over 1Q 2011 the system's turnover made up UAH 618 million.

     Finance and Credit Bank is known to be one of the largest importers of cash currency. From the start of the year, it brought over $726 million, ˆ1.4 million in Ukraine and imported 233.5 kg of bank metals.

     As of April 01, 2011, the regional network of the Bank comprises 16 bank branches and 305 off-balance outlets all over Ukraine.  

Contact for Mass Media Representatives:
Yuliya Zagorodnya
Head of Informational and Media Support
Finance and Credit Bank
Phone: (044) 364-26-48
å-mail: yuliya.zagorodnya@fcbank.com.ua