OREANDA-NEWS. February 15, 2012. First Ukrainian International Bank is set to reorganise its regional network and adopt a common sort code (MFO) for all branches.

The Supervisory Board of First Ukrainian International Bank (FUIB) decided on 3 February 2012 to adopt a single sort code (MFO) 334851 for ten branches and their outlets on 21 April 2012. As a result, all branches will be reorganized into outlets of FUIB's Regional Centre. The outlets managed by the branches will continue to report to them after the branches are reorganized into the outlets of FUIB's Regional Centre.

The bank completed the first (pilot) stage of the project to adopt a single MFO code on 12 November 2011, when the branch in Zaporozhye and its outlets took the 334851 code.

All organisational changes will comply fully with the law. It means that working conditions of employees at branches and outlets will not change, while FUIB clients will be able to use the single code for all transactions.

"To meet the international banking standards and provide top-quality services, FUIB continues to improve efficiency of its operations and optimise its processes and resources. The project to adopt the single MFO code for all branches is strategically important for the bank as it aims to improve efficiency of client services, centralise cashiering and accounting operations and optimise the development of reports for regulatory agencies," says Konstantin Vaisman, FUIB Board Chairman.

The regional network of the First Ukrainian International Bank includes 10 branches in Kiev, Donetsk, Dnepropetrovsk, Kharkov, Lvov, Odessa, Nikolayev, Lugansk, Mariupol and Sevastopol and the Regional Centre in Zaporozhye.