UniCredit Bank Meets All Updated Criteria for Carrying Out Public Sector Payments
OREANDA-NEWS. On September 22 the Ministry of Finance of Ukraine approved amendments to the notorious decree "On some issues regarding carrying out pension payments, financial aid and salaries to employees of state-financed institutions". Thereby the requirements are being made more strict in order to thoroughly assess the banks making payments from the state budget.
Thus, to become authorized to undertake payments to state employees and recipients of social welfare a bank has to possess more than 1% of the assets of the banking system, have no debts to the State Fiscal Service and Deposit Guarantee Fund. Furthermore, its international shareholders must have an investment rating by internationally recognized rating agencies.
According to preliminary estimates, no more than 14 banks meet the requirements fully, one of them being UniCredit Bank.
Note that UniCredit Bank is one of the oldest and largest in the country, regularly recapitalized by its international shareholders and having their full support. The bank is therefore one of the trusted leaders in the payroll market. As of today, UniCredit Bank has been chosen by almost 350 000 Ukrainians to get their wages paid, of which about one-third are public sector employees.
UniCredit Bank is one of the largest universal banks in Ukraine, offering a full range of top quality financial services for individuals and corporate clients.