First Ukrainian International Bank (FUIB) has completed the legal process of merging with Renaissance Capital Bank. This was announced by FUIB's press service.
On March 14, 2015, by decision of the general meeting of shareholders of PJSC First Ukrainian International Bank and shareholders of JSC Bank Renaissance Capital, the stage of the legal merger of the banks, which began last fall, was completed.
It was also reported that the operational merger of the banks, including the unification of the branch network, product range, and services, will be completed by the end of 2015. It was noted that the combined bank's total capital remained unchanged, while its regulatory capital increased by UAH 295 million.
The decision to merge the two banking entities was made on October 27, 2014. It was reported that as a result of the reorganization, FUIB would become the legal successor to all rights and obligations of Renaissance Capital Bank towards its clients, partners, and counterparties. The merger process was overseen by the National Bank of Ukraine and the Antimonopoly Committee.
Renaissance Capital Bank was founded in 2005. Its sole shareholder is FUIB.
FUIB was founded in 1991. According to the National Bank of Ukraine, as of July 1, 2014, FUIB ranked 10th in terms of total assets (UAH 35,798 billion), while Renaissance Capital Bank ranked 87th (UAH 1,409 billion) out of 173 banks operating in the country. The bank's shareholders are SCM FINANCE LLC (89,87%) (Rinat Akhmetov's group), SCM Financial Overseas (10%) minus one share, and individuals (0,13%). On January 12, 2015, the financial institution moved from Donetsk to Kyiv. Its head office is located at 4 Andreevska Street.
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