Akhmetov will join Renaissance Capital Bank to FUIB

by Editor • 28.10.2014 • 0 Comments

Renaissance Capital Bank will be reorganized by merging with the First Ukrainian International Bank.

This was reported in a press release from FUIB, Interfax-Ukraine reports.
According to the report, this decision was made at general meetings of shareholders of the two banks on October 27.
As a result of the reorganization, FUIB will become the legal successor to all rights and obligations of Renaissance Capital Bank in relation to its clients, partners, and counterparties.
The merger process will be overseen by the National Bank of Ukraine and the Antimonopoly Committee and will be completed by the end of 2015. The banks' client relations procedures will remain unchanged during the reorganization, the statement said.
"Our goal is to synergize the two banks' strengths. On the one hand, this is FUIB's reliability, confirmed by the results of the NBU's stress testing, high-quality service, and expertise in working with high-yield market segments. On the other hand, we offer efficiency and simplicity, as well as experience in developing consumer lending from the leader in this segment, Renaissance Credit Bank," the press service quotes Sergey Chernenko, Chairman of the Management Board of FUIB and Chairman of the Supervisory Board of Renaissance Capital Bank.
Renaissance Capital Bank was founded in 2005. Its sole shareholder is FUIB.
FUIB was founded in 1991. Its largest shareholder as of October 1, 2014 was SCM Finance LLC (92,24%).
According to the National Bank of Ukraine, as of July 1, 2014, FUIB ranked 10th in terms of total assets (UAH 35,798 billion), and Renaissance Capital Bank ranked 87th (UAH 1,409 billion) among 173 banks operating in the country.
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