Universal Capital Bank
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| Headquarters | Stanka Dragojevića bb, Podgorica, Montenegro |
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| Established | October 24, 2007[1] |
| President | Lua error in Module:Wikidata at line 446: attempt to index field 'wikibase' (a nil value). |
| Website | www |
Universal Capital Bank (MNSE: FFBN) is a part of Montenegrin Chamber of Economy.[2] The Bank is licensed to participate on Montenegrin financial market by the Central Bank of Montenegro[3] and is registered with the Montenegro Private entities central registry as a shareholders company that operates in the financial market of Montenegro.[4]
The primary strategy of the Universal Capital Bank in entering the Montenegrin market is to provide complementary resources and skills to the financial sector and the country in general. These complementary resources include the solicitation and facilitation of foreign direct investment in the country and the development of the financial sector infrastructure with emphasis on the development of human capital. Universal Capital Bank is a prestigious bank whose primary objective is a major vehicle for the development of Montenegro as an important regional center of financial services and high quality leisure industry.
UCBank plans to actively pursue investment banking advisory services. Indicatively these will include:
- Coordination and lead management in the public offering of public owned entities,
- Advisory services in share capital increase transactions,
- Consulting services to the public sector,
- Covering major infrastructure projects or international tenders for the use of public facilities (i.e. concessions of roads etc).
The capital advisory services will be complemented by the project finance lending that the Bank plans also to offer, so as to be able to provide a full range of support to its clients.
History
The Bank was founded in 2007 under the name First Financial Bank and operated under that name until 2014 when the name was changed into its present form.[5][6] Originally, Bank's headquarters were located on the south side of Podgorica City Stadium before they were relocated in 2015 to their current offices in close vicinity of Millennium Bridge (Montenegro) at Morača riverside. After initially dealing only with the private sector market participants from Montenegrin economy Bank expanded its services with investments through retail banking. Following this decision two branch offices were opened in Podgorica which along with Sveti Stefan Branch made for a total of 3 branch offices across Montenegro.
Universal Capital Bank has been a member of Montenegro Stock Exchange[7] since 2. December 2011.[8]
2016
Universal Capital Bank had a management change as Mr. Georgios Lychnos was replaced by Mr. Đorđe Đurđić as the new chief executive officer of the Bank.[9] Shortly after the management change two branch offices in Podgorica were closed down as the first priority was to upgrade and improve the existing list of Bank's services and products. Headquarters and Sveti Stefan Branch were the only two locations where clients could be serviced and as a result a substantial number of domestic clients was lost. The focus was on International Investment Banking.
The same year the Bank opened branch offices in Dubai International Financial Centre (DIFC)[10] becoming the first Montenegrin Bank to do so. The Dubai branch is located at Unit OT 17-43 , Level 17, Central Park Offices [11] and is used only as a medium for bank-client transactions. Grand opening is planned in 2017.
In addition to being a member of Montenegro Stock Exchange, in 2016 the Bank got licensed for Custody services.[12]
Mandatory financial data from Central Bank of Montenegro
Every bank that participates in Montenegrin economy has to oblige to the rules set by and maintained by the Central Bank of Montenegro.. Income Statements and Balance Sheets are mandatory financial reports that have to be prepared and presented on a quarterly basis. To ensure the authenticity of the reports Central Bank of Montenegro does a yearly audit which is mandatory by law for every financial institution that operates on the Montenegrin financial market.
| Year | Q1 | Q2 | Q3 | Q4 |
|---|---|---|---|---|
| 2016 | -78,000[14] | -99,000[15] | -273,000[16] | 324,000[17] |
| 2015 | 34,000[18] | 34,000[19] | 222,000[20] | 294,000[21] |
| 2014 | 34,598[22] | 57,000[23] | 2,000[24] | 36,000[25] |
| 2013 | -196,000[26] | -722,000[27] | -1,350,000[28] | 62,000[29] |
| 2012 | -577,000[30] | -190,000[31] | -117,000[32] | -126,000[33] |
| 2011 | -472,000[34] | -819,000[35] | -1,228,000[36] | -1,538,000[37] |
| 2010 | -682,000[38] | -1,142,000[39] | -1,574,000[40] | -1,805,000[41] |
| 2009 | -452,000[42] | -950,000[43] | -1,339,000[44] | -1,706,000[45] |
| 2008 | -447,000[46] | -984,000[47] | -1,295,000[48] | -2,018,000[49] |
| 2007 | - | - | - | -218,000[50] |
On 31. December 2014 the Bank had a Net profit of 36 thousand EUR.[51] On 31. December 2015 the Bank had a net profit of 294 thousand EUR.[52][53] On 31. December 2016 the Bank had a Net profit of 324 thousand EUR.[54]
An upwards momentum can be noticed on the Bank's Income Statement from the last 3 years of doing business.
Services and products
Universal Capital Bank offers services and products to both physical and legal entities both through investments and deposits.
The Bank offers long term and short term loans and deposits, as well as transactional accounts for individuals and corporations both for domestic and international payment operations.
The services offer extends to buying and selling securities over our brokerage and custody departments.
Investment banking
In accordance with the primary business goal, which means fostering and enabling Foreign Direct Investments to Montenegro, the Bank presented Investment Banking Services, and its team, which is comprised of experienced professionals who are going to, with their dedication to work and commitment to client's needs, most certainly justify expansion into the field of Investment Banking.
Universal Capital Bank Investment banking includes a wide array of services which relate to business operations with securities:
- Brokerage services (intermediation in trading securities)
- Services in the field of organizing acquisitions, including representation of shareholders in the process of sale of shares to the buyer.
- Custody Services (Services of safekeeping, and custodial services for Clients securities)
- Financial markets Analysis
- Services in the field of organizing issuance of securities (agent and underwriter) – Organizing IPO (Initial Public Offer for the Securities) and underwriting new issues of the Securities
Services in the field of Investment Banking, the Bank provides primarily through operations of Department of Broker-Dealer Services and Department for Custody Services. These two departments are comprised of teams of experienced professionals which are at your disposal. Our employees are our competitive advantage. Individual approach to each client and innovations in providing the best solutions enables the Bank to always satisfy specific needs of its clients, and is being led by highly professional and ethical principles in its operations, provides safety and respect which is presented to its clients for providing their trust in the Bank.
Payment Cards
Debit cards are linked to a specific transactional account and funds have to be debited onto them. If a user has no funds on the corresponding card account, making payments is impossible.
Bank offers three types of Visa Debit Cards:
* Visa Electron * Visa Business Electron * Visa Gift
Talks and agreement signing are in the process with MasterCard about expanding the current payment card product portfolio. This project is to be concluded in Q3 of 2017.
E-banking
The bank offers electronic/internet banking for both residents and non-residents through two e-banking platforms:
Charity work
In 2014, Universal Capital Bank, under directions from Mr. Petros Stathis opened savings accounts for children in Childrens Orphanage in Bijela.[57]. This event marked the beginning of a new strategy in doing business.
Blood donation activities are regularly organized by Bank's employees.
Montenegrin Banking System
Montenegro, being a small country in the Balkans, has a surprisingly confident amount of banks operating on its market. Currently, there are 14 Banks operating in Montenegro, 6 of which are domestically owned. The financial market is regulated by the Central bank of Montenegro.
References
- ↑ "External Audit Report, UCbank", Delloite, Page 44, 31. December 2015.
- ↑ "Universal Capital Bank AD Podgorica", MNE Chamber of Economy
- ↑ "Universal Capital Bank", Central Bank of Montenegro
- ↑ "Universal Capital Bank page on National Central Registry for Private Entities", Centralni Registar Privrednih Subjekata, rješenje o registraciji akcionarskog društva
- ↑ "First Financial Bank promijenila ime", Vijesti, Podgorica, 19. June 2014.
- ↑ "Montenegro's First Financial Bank renamed to Universal Capital Bank", Valentina Dimitrievska for www.seenews.com, 23. June 2014
- ↑ "General information and members of Montenegro Stock Exchange"
- ↑ "Universal Capital Bank page on Montenegro Stock Exchange"
- ↑ "Đorđe Đurđić direktor Universal Capital Banke", www.bankar.me, 28. May 2016.
- ↑ "Universal Capital Bank ad Podgorica : Branch in Dubai", www.4-traders.com, Podgorica, 10. May 2016.
- ↑ "DIFC Public Register", Universal Capital Bank AD Podgorica
- ↑ "List of Custody Banks in Montenegro (contact info)"Montenegro Stock Exchange,
- ↑ "Listing of all financial market participant's Balance Sheets and Income Statements, regulated by the Central Bank of Montenegro"
- ↑ "Universal Capital Bank Income Statement for Q1 of 2016", Central Bank of Montenegro, 31. March 2016
- ↑ "Universal Capital Bank Income Statement for Q2 of 2016", Central Bank of Montenegro, 30. June 2016
- ↑ "Universal Capital Bank Income Statement for Q3 of 2016",Central Bank of Montenegro, 30. September 2016
- ↑ "Universal Capital Bank Income Statement for Q4 of 2016", Central Bank of Montenegro, 31. December 2016
- ↑ "Universal Capital Bank Income Statement for Q1 of 2015",Central Bank of Montenegro, 31. March 2015
- ↑ "Universal Capital Bank Income Statement for Q2 of 2015", Central Bank of Montenegro, 30. June 2015
- ↑ "Universal Capital Bank Income Statement for Q3 of 2015",Central Bank of Montenegro, 30. September 2015
- ↑ "Universal Capital Bank Income Statement for Q4 of 2015",Central Bank of Montenegro, 31. December 2015
- ↑ "Universal Capital Bank Income Statement for Q1 of 2014", Central Bank of Montenegro, 31. March 2014
- ↑ "Universal Capital Bank Income Statement for Q2 of 2014", Central Bank of Montenegro, 30. June 2014
- ↑ "Universal Capital Bank Income Statement for Q3 of 2014",Central Bank of Montenegro, 30. September 2014
- ↑ "Universal Capital Bank Income Statement for Q4 of 2014",Central Bank of Montenegro, 31. December 2014
- ↑ "Universal Capital Bank Income Statement for Q1 of 2013", Central Bank of Montenegro, 31. March 2013
- ↑ "Universal Capital Bank Income Statement for Q2 of 2013",Central Bank of Montenegro, 30. June 2013
- ↑ "Universal Capital Bank Income Statement for Q3 of 2013", Central Bank of Montenegro, 30. September 2013
- ↑ "Universal Capital Bank Income Statement for Q4 of 2013",Central Bank of Montenegro, 31. December 2013
- ↑ "Universal Capital Bank Income Statement for Q1 of 2012", Central Bank of Montenegro, 31. March 2012
- ↑ "Universal Capital Bank Income Statement for Q2 of 2012",Central Bank of Montenegro, 30. June 2012
- ↑ "Universal Capital Bank Income Statement for Q3 of 2012",Central Bank of Montenegro, 30. September 2012
- ↑ "Universal Capital Bank Income Statement for Q4 of 2012",Central Bank of Montenegro, 31. December 2012
- ↑ "Universal Capital Bank Income Statement for Q1 of 2011", Central Bank of Montenegro, 31. March 2011
- ↑ "Universal Capital Bank Income Statement for Q2 of 2011",Central Bank of Montenegro, 30. June 2011
- ↑ "Universal Capital Bank Income Statement for Q3 of 2011",Central Bank of Montenegro, 30. September 2011
- ↑ "Universal Capital Bank Income Statement for Q4 of 2011",Central Bank of Montenegro, 31. December 2011
- ↑ "Universal Capital Bank Income Statement for Q1 of 2010", Central Bank of Montenegro, 31. March 2010
- ↑ "Universal Capital Bank Income Statement for Q2 of 2010",Central Bank of Montenegro, 30. June 2010
- ↑ "Universal Capital Bank Income Statement for Q3 of 2010",Central Bank of Montenegro, 30. September 2010
- ↑ "Universal Capital Bank Income Statement for Q4 of 2010",Central Bank of Montenegro, 31. December 2010
- ↑ "Universal Capital Bank Income Statement for Q1 of 2009",Central Bank of Montenegro, 31. March 2009
- ↑ "Universal Capital Bank Income Statement for Q2 of 2009",Central Bank of Montenegro, 30. June 2009
- ↑ "Universal Capital Bank Income Statement for Q3 of 2009",Central Bank of Montenegro, 30. September 2009
- ↑ "Universal Capital Bank Income Statement for Q4 of 2009", Central Bank of Montenegro, 31. December 2009
- ↑ "Universal Capital Bank Income Statement for Q1 of 2008",Central Bank of Montenegro, 31. March 2008
- ↑ "Universal Capital Bank Income Statement for Q2 of 2008", Central Bank of Montenegro, 30. June 2008
- ↑ "Universal Capital Bank Income Statement for Q3 of 2008",Central Bank of Montenegro, 30. September 2008
- ↑ "Universal Capital Bank Income Statement for Q4 of 2008", Central Bank of Montenegro, 31. December 2008
- ↑ "Universal Capital Bank Income Statement for Q4 of 2007", Central Bank of Montenegro, 31. December 2007
- ↑ "Universal Capital Bank Income Statement for Q4 2014", Central Bank of Montenegro, 31. December 2014.
- ↑ "External Audit Report, UCbank", Delloite,Page 3, Podgorica, 31. December 2015.
- ↑ "Universal Capital Bank Income Statement for Q4 2015", Central Bank of Montenegro, 31. December 2015.
- ↑ "Universal Capital Bank Income Statement for Q4 2016", Central Bank of Montenegro, 31. December 2016.
- ↑ "Banksoft website product acquirers"
- ↑ "E-mon website product acquirers"
- ↑ "Račun sa po 2.000 eura za djecu iz Bijele: Da im bude lakše kad napune 18", Vijesti, Podgorica, 19. December 2014.
External links
- Official website
- UCBank listing on Montenegro Stock Exchange
- UCBank listing on Dubai International Financial Centre Public Register
- UCBank listing on Central Bank of Montenegro licensed banks list
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