Reviews about the bank "Finance and Credit", customer comments

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Starting to study the reviews about the bank "Finance and Credit", it is worth starting with a little background. The financial institution began its existence on June 19, 1990. Initially, the institution was officially registered by the State Bank of the USSR as the Ukrainian Commercial Bank for Business Cooperation. Five years later, on October 13, 1995, the Institute acquired its present name and became a commercial bank "Finance and Credit".

History of activity

The authorized capital of the bank in 2006 was equal to two billion hryvnia. In 2007, the organization acquired a new form of ownership and became a limited liability company. In July 2011, it was decided to increase the authorized capital of the financial institution by UAH 200 million. In 2009, the institution had the status of a joint-stock company, and its head was Volodymyr Khlyvnyuk, who was known as the leading top manager of the Ukrainian banking sector.

Throughout the long history of existence, reviews about the bank "Finance and Credit"left a good impression of the institution, as it regularly fulfilled its obligations. An excellent confirmation of this is the 2011 rating from the Credit Rating agency, which assigned the institution an investment grade level of uaBBB. The prognosis was stable. By February 2012, the Institute's assets amounted to UAH 22,877,292 billion.

Outstanding history and participation in world associations

Back in mid-2014, the financial institution "Finance and Credit" could be proud of its brilliant reputation. The partner banks supported their colleague, as he fulfilled his obligations superbly, and most importantly, professionally and systematically. Providing services to individuals and legal entities, he was a member of the Association of Ukrainian Banks and was a member of the Ukrainian Stock Exchange, PFTS and Kyiv Banking Union.

There was membership in such well-known international systems as VISA International and MasterCard International, Western Union, PARD and AVERS. In terms of the size of the regulatory capital, the institution belonged to the first group of banks. The Institute's shareholders, both earlier and now, are Askania LLC (45.92% of shares) and PJSC F&C Re alty (41.58% of shares). The main beneficiary is Ukrainian businessman and MP Konstantin Valentinovich Zhevago.

Financial atmosphere at the bank

Despite the fact that the financial institution continues to work, reviews about the bank "Finance and Credit", which are increasingly found with a negative connotation,indicate the opposite situation. In accordance with the organization's financial performance as of March 2015, its assets are equal to UAH 41,470,386. The volume of liabilities is 39,183,614 hryvnias, and the equity capital has stopped at the figure of 2,286,773 hryvnias. Only the volume of net profit makes us think, which, according to the latest information, amounted to minus UAH 715,777.

The first heralds of trouble

The first reviews about the Bank "Finance and Credit", which contained information about the refusal of the financial institution to fulfill its obligations under deposit agreements, began to appear at the very beginning of 2015. The bank's customers did not immediately react sharply to the situation, betting that the dollar, which rose sharply at that time, forced many organizations from the financial sector to reconsider their policies.

By February 2015, the number of people dissatisfied with the work of the bank had increased dozens or even hundreds of times. Lonely cases have become a systematic phenomenon. If initially people said that the bank simply delays deposit payments for several months or offers prolongation on favorable terms, today payments are simply frozen, and employees of the financial institution say that there is no cash.

What is the difficulty of the situation?

It's no secret that many Ukrainian financial institutions have faced certain problems due to the economic situation in the world. Some of them officially announced their bankruptcy, others werejust lose their license. With regard to the situation under consideration, we can say that the branches of the Bank "Finance and Credit" were partially closed throughout the country. As a result of the conflict with Russia, the financial institution lost quite a lot of funds due to the breakdown of partnerships with investors from Moscow and the Moscow region.

Having contributed to the situation was a large outflow of capital due to panic among clients who tried to withdraw their funds from the organization as quickly as possible. At the moment, the bank, although it does not fulfill its obligations in the minimum amount, its management says that the situation will soon stabilize. And the NBU is in no hurry to send a curator to the organization, as it financially supports the institution.

Rallies and mass discontent

Bankruptcy of the Bank "Finance and Credit", according to many of its clients, is not far off. A fairly large percentage of people say that between six months and one year remains before the start of the liquidation procedure. The beneficiary of the institution and the Ukrainian deputy Zhevago openly declares that the financial institution is not experiencing any problems and there is no threat of irreversible consequences. What remains to be done by dissatisfied customers remains a mystery. People who have not seen their contributions within the terms established by the agreements gather and organize rallies and protests. The events are held with the involvement of the media not only near the NBU in Kyiv, but throughout Ukraine.

Unprecedented rudeness

In addition to the fact that all the deposits of the Bank "Finance and Credit" were frozen and inaccessible to their owners, many people talk about rudeness on the part of the organization's employees. There are systematic reports that the branches cannot give an accurate answer to any of the questions regarding payments. There is evidence of superficial treatment of people who are trying to get their legitimate deposits back. Complete disregard for customers is not the worst, according to numerous reviews.

Transfers fail

In addition to the fact that the NBU has not yet officially recognized the bankruptcy of the Finance and Credit Bank and has not introduced temporary administration into it in order to resolve the situation with depositors in this way, according to clients, there are still some sins behind the institute. So, according to more than a dozen deceived citizens who leave their reviews on the Internet, the bank takes currency transfers, but does not carry them out. Some clients claim that such an institution as the Finance and Credit Bank is dishonest. Transfers to business partners were issued, but for some reason the money did not reach the addressee. Moreover, they were never returned to their owner. As a result, the loss of profitable foreign partners and losses in their business.

What's going on with internet banking?

As in any other major financial institution in Ukraine, the Internet bank "Finance and Credit" functioned within the framework of the LLC. Previously, it was a convenient tool for distributing the financial flows of each client. Money transaction,payment of utility bills, tracking the status of accounts and much more was available as part of the project. Today, everything has changed dramatically, and positive feedback about the service has completely replaced the indignation of customers.

If you believe the numerous comments, the Internet bank "Finance and Credit" today is almost completely not working. If you manage to enter your personal account, then this happens after repeated attempts. People say that today this service is absolutely useless, since all the functionalities are in a non-working state. Customers write that they cannot even check the balance on the cards through the Internet service, since no information is displayed on them.

What is Zhevago talking about and how true are his words?

From Zhevago's official speeches, it became known that the position of the Finance and Credit Bank is now satisfactory. He openly declares that there can be no talk of problems, on the contrary, the financial institution is developing successfully. The main shareholder insists that the organization today serves a large number of industry flagships that are constantly increasing their production volumes. This economic basis becomes the impetus for development in the future.

The owner of the "Finance and Credit" bank openly says that the financial institution consistently issues deposits to its customers, taking into account the restrictions that were introduced by the NBU. To what extent the information described by deputy Zhevago is true, it is very difficult to judgeproblematic, as in numerous reviews, customers indignantly testify to the contrary. To say more, information was leaked from some media that the deputy's business in business is not going as well as he says. According to Ferrexpo's audit report, bondholders received a debt restructuring proposal. This only indicates a high probability of default by the Ukrainian oligarch.

Even refinancing doesn't help

There is widespread information that banks partners abandoned the Institute "Finance and Credit" with the advent of the first problems. Certain difficulties also arose when trying to get refinancing from the NBU. Liquidity problems that occurred between December 2014 and January 2015 were not resolved immediately. The first support to the bank from Gontareva's department was provided only by mid-February in the amount of 700 million hryvnias. In March 2015, information was received about the next refinancing in the amount of UAH 276 million, and a little later - UAH 750 million.

Repeated injections of capital did not bring the expected effect due to the large outflow of funds. The deposit portfolio, starting from the moment the first problems appeared and up to the first stabilization loan from the NBU, decreased by 18.5 billion hryvnias, and by the end of June another 16.5 billion hryvnias left the financial institution. According to information provided by Forbes magazine, by the end of June, depositors managed to win about 400 lawsuits against the bank, inaccording to which he undertakes to pay funds to his clients.

An unexpected turn of events and summing up

Despite the fact that many of the bank's customers have court decisions in their hands, according to which the financial institution is obliged to pay debts, they still cannot receive their deposits. The problem is that the executive services refuse to take action in connection with the decision of the Kyiv District Administrative Court. Recall that Judge Balaklitsky granted the petition, according to which the executive services and any of their bodies, copyright holders represented by the NBU and its territorial departments, including such financial institutions as Ukreximbank, Pravex-Bank, Uksotsbank and "Citibank", are deprived of the right to carry out any actions to impose and enforce arrests from the accounts of the Bank "Finance and Credit".

Many customers assume that the owner of the bank "Finance and Credit" is trying to keep it afloat by all means, including at the expense of depositors. There is information that some deposit holders have received offers, according to which they are ready to give them 50 percent of the deposit, but on condition that the second half remains within the financial institution. It is problematic to judge and talk about how true information from the media and customer reviews is. It remains to monitor the situation and draw appropriate conclusions on the fact of events.