OREANDA-NEWS. Andriy Zymukha, Head of Strategic Planning Unit of JSCIB "UkrSibbank": While selecting reliable institutions to place your deposits, first of all, it should be considered its term of operating on market and its business reputation, reported the press-centre of JSCIB UkrSibbank.

Also, it is recommended to be aware of the amount of assets and own capital of the bank. Thus, the own capital volume constitutes the main protection source of deposits of legal entities and individuals in case of bank collapse. Besides, availability of foreign investments, the factor which characterizes each definite bank, plays one of the major roles. At the decision-making stage concerning the acquisition of shareholders’ interests, foreign investors carry out thorough audit of all the indices, and invest only in banking institutions with reliable status and sustainable development.

As regards quality indices, it would be a competitive advantage if a bank has international credit rating and financial statements audited in line with international standards. Currently, Ukraine experiences the situation where level of banking transparency and openness of corporate governance principles are of paramount importance. Hence, if shareholders treat their bank as a “pocket” one, the increase of authorized fund is performed exclusively due to ultimate regulatory requirement. In such case, one may believe that in the long term outlook, stable performance of the bank is somewhat suspicious. It is therefore driven by significant amount of funds foreign banks invest into Ukrainian banking system, primarily, into top banks.

As for our bank, it is worth mentioning that UkrSibbank has been a participant of Individuals’ Deposits Guarantee Fund for a long time. Since the appearance on banking market, UkrSibbank proved itself to be a reliable and well-performing bank, the fact that was confirmed by the deal signed with BNP Paribas in 2006, according to which BNP Paribas purchased 51% of shares in "UkrSibbank".