Finance and Credit Bank Returns to Pre-crises Volumes
OREANDA-NEWS. January 19, 2011. Finance and Credit Bank has again proved its status of one of the biggest foreign currency importers. Since the start of 2010 the Bank has imported nearly USD 1.26 billion into the territory of Ukraine, which indicates an increase in the volume of imported cash by USD 1.05 billion. It is 6 times more against the same period of 2009. It is interesting to know that the whole sum, if broken into one dollar bills, would weigh over a kiloton (1,000 tons). If all this cash were piled together, its height would exceed 100 km.
"Over the past year we managed to satisfy to the full the increased demand of both individuals and our partner banks for cash currency. The Bank is prepared to live up to expectations of the public for cash currency in 2011 as well, due to additional cash reserves created at the cash-desks", – stressed Igor Lvov, Vice Chairman of the Board at Finance and Credit Bank.
The specific feature of 2010 is the record level of euro export by Finance and Credit Bank. The volume of exported euro made up over EUR 235 million at the end of year. According to Mr Lvov: "In summer we spotted a trend in which the public were actively depositing their euro with banks. The aforesaid situation was under way in our Bank till the end of the year". The import of euro in 2010 amounted to 44.3 million in contrast to 71.65 million imported by Finance and Credit Bank over the same period of 2009.
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