OREANDA-NEWS. July 15, 2011. PSC CB "PrivatBank" and the CONTACT, the international system of money transfers and payments, concluded a partnership agreement to provide money transfer services to customers in Ukraine. Now receiving and sending funds to family, friends and partners via the CONTACT system are available at  all 3'287 PrivatBank branches in 1'022 Ukrainian towns and villages.

“There is a number of advantages on money transferring via the CONTACT system, among them are the null commission for recipients, simplicity of sending and receiving transfers - commented on the conclusion of the contract the PrivatBank Chairman of the Board Alexander Dubilet. - All this should  please our customers”.  PrivatBank notes that customers of the Bank can transfer money via the CONTACT system at rates starting from 0.99 percent for the transfer, simple money receiving and no cost to a recipient  (a transfer is paid to the recipient without commission withholding).

"CONTACT’s partnership with PrivatBank, one of the largest financial institutions on post-Soviet area, will provide significant increase in number of network service centers in Ukraine and will enlarge substantially  our client amount - noted Lily Hlunova, the President-Chairman of  JSC RUSSLAVBANK, CONTACT operator. - In PrivatBank CONTACT system has found a strategic partner in Ukraine, successful co-operation with  which will have potent impact on money transfer market in CIS region in the near future”.

The procedure of transferring money at PrivatBank’s offices takes only a few minutes. All, that a client needs is just to apply at the nearest office bringing the transfer sum in a cash-desk and providing one's identity documents. The operator immediately provides the sender with the transfer’s number which is needed to inform the transfer recipient. Since then, the money is waiting for the recipient in any service point of the CONTACT system.

According to the National Bank of Ukraine, the CONTACT system is among TOP-5 of international money transfer systems with maximum amounts of transfers to Ukraine (in USD) as for the end of 2010. The system has more than 80,000 service outlets in more than 100 countries and provides money transfer services in USD, EUR and RUR.

PrivatBank is the largest Ukrainian bank by main financial issues. International banking group "PrivatBank" serves over 20 million corporate and retail customers in 12 countries including Russia, Georgia, Latvia, Italy, Portugal, China and the UK. Just in 2010, its customers committed more than 6.3 million transactions for money transfers in PrivatBank in Ukraine.

International money transfers and payments system CONTACT operates since 1999. The organizer and the clearing bank is "RUSSLAVBANK". CONTACT system built the basis of the national money transfer market . At present, CONTACT unites more than 800 financial institutions in Russia, CIS and other countries, which form an extensive ramified network - more than 80,000 service points in more than 100 countries. CONTACT partners in payments are more than 700 legal entities - banks, trading companies, insurance and tourist companies and their agents, or ISPs, telecom operators and others. Annually millions of customers all over the world use services of the system.

PrivatBank is the leader of the Ukrainian banking. As for January 1st, 2011 net assets of the PrivatBank (Ukrainian) totalled UAH113.43 billion. Equity capital was UAH11.88 billion, the loan portfolio - UAH98.6 billion. Net profit of PrivatBank by end of 2010 amounted UAH1.370 billion. The bank serves 334,000 corporate customers and 314,000 private entrepreneurs; daily more than 1.5 million people in Ukraine use services of the bank. According to a GFK Ukraine research, every third client of the banking system of Ukraine uses the services of PrivatBank, and every fourth - considered PrivatBank as the main bank.