OREANDA-NEWS. August 15, 2011. Deutsche Bank has analysed cooperation with its correspondent banks in 2010 and rewarded FUIB for high quality payments in US dollars.

Annually Deutsche Bank reviews cooperation with its partner banks and assesses the quality of their payments in terms of percentage of automated transactions - Straight Through Processing rate. The highest degree of automation in payment processing ensures a low error rate and reduces operating expenses which directly influence fees for the payments. First Ukrainian International Bank was awarded by Deutsche Bank for the high quality of US dollar payments in 2010, with the STP rate being 100%. It means that all payments of FUIB's clients are automated and target processing time does not exceed five seconds.

"The bank works to build an efficient correspondent network across the globe," stated Gennadiy Molodchinny, First Vice Chairman of FUIB Board. "To this end we analyse the quality of services of our correspondent banks and can say with confidence that payments of our clients are processed by the world's best clearing banks providing noncash cross-border payment services. FUIB seeks to keep pace with them, which allows us to guarantee to our clients the high-speed processing of payments in foreign currencies and competitive fees."

First Ukrainian International Bank belongs to the group of the biggest Ukrainian banks. It is a universal bank, especially active in commercial, retail, and investment banking operations. The bank was founded in 1991. The controlling shareholder is SCM Finance (owns 89.87% of shares). After the merger with Dongorbank, FUIB operates 11 branches and 171 outlets across Ukraine.

In 2010 the bank entered The Banker's Top 1000 world banks listing, debuting at position 905. FUIB was ranked second by information transparency and disclosure among Ukrainian banks according to the research held by the international rating agency Standard & Poor's, Agency of Financial Initiatives and the USAID project "Development of capital markets" in 2010. In May 2011 Moody's upgraded the outlook on the bank's national currency debt rating to B2 and foreign currency debt rating to stable.