Balkan Investment Bank AD Banja Luka

Relationship was terminated

GSL reference about the bank

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On 12 February 2013, the Latvian Prosecutor’s Office suspended the operations of Ukio Banko, the sole shareholder of Balkan Investment Bank AD, on the charges of money-laundering during 2005 - 2012. The whereabouts of the owner of Ukio Banko are currently unknown. The bank is under external management.
The relationship with the bank was terminated

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    Bank's characteristics

    General information and rating

    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    Not rated Not rated N/R
    Year of foundation 2000
    History Balkan Investment Bank AD is one of the first commercial banks in Bosnia and Herzegovina, which was established through foreign capital. The bank started working on June 12, 2000 in Banja Luka. The two of Lithuanian companies were founders: AB Ūkio bankas, the oldest private bank in Lithuania and UAB “Ūkio banko investicinė grupė”, the Investment Company. At present time there are 32 branch offices, head office and two foreign branch offices (Kiev, Kaunas)
    Personnel About 219 personnel worldwide. The client's support is provided in Serbian, English, Lithuanian, Ukranian and Russian. There is about 10 % of Russian-speaking personnel, thereby there is always an opportunity to provide the Russian clients with the support in Russian. The communication with Bank's representatives is realized by means of e-mail, Skype or telephone
    Bank’s shareholders UAB Balkan Invest (Banja Luka, Bosnia-Herzegovina) - 41,56%; UAB Asocijuoto Turto (Valdymas Bosnia-Herzegovina) - 25,72%; UAB Ukio Banko Investicine Grupe (Kaunas Lithuania) - 18,42%, другие - 14,30%
    Confidentiality AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

    Minimum requirements

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    700 No restrictions 700 0 No restrictions
    Minimum balance, € Minimum balance is 700 EUR. This requirement should be fulfiled during the first year since the moment of account opening. In the subsequent periods there are no any minimum balance requirements. Nevertheless the account should be "active". In accordance with the laws of Bosnia and Herzegovina, the Bank has to close the account, if there is no turnover during one calendar year
    Transactions permitted per month There are no restrictions on quantity of transactions permitted per month
    Initial deposit of funds, € The initial deposit is 700 EUR which is also a minimum balance for the first year. There is a one-time bank comission in amount of 500 EUR which includes the following services: translation of the set of required documents into Serbian, the legalisation of the documents by notary (required by law); DHL delivery services. The transfer of the set of required documents is realized through the Moscow representative to the Head office of the Bank for the purpose of due diligence procedure. As soon as the documents are examined for compliance, translated and legalised, the originals are sent back to client
    Deadline for the initial deposit, month The initial deposit should be paid immediatly after the opening procedure
    Minimum turnover, €/year There are no restrictions on the minimum turnover
    How fast payments are executed The execution of payments depends on the type of payment: extra urgent payment is realized at the same day; urgent patment - one working day; standard - two working days. The SWIFT-copy is available in 45 minutes after the payment

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    25 0 420 5 000 0
    Outcoming transfer, € The bank comission for outcoming transfer varies depending on the type of payment: extra urgent - 60 EUR; urgent - 40 EUR; standard - 25 EUR
    Incoming transfer, € There is no any bank comission for the incoming trasfers. The incoming transfers are fulfilled immediately
    Account maintenance, €/year The account maintanance is 420 EUR, it is charged in amount of 35 EUR every month
    Payment limit for credit cards, €/day The standard payment limit for credit cards per day is 5 000 EUR. This amount may be enlarged on the client's request
    Funds to be blocked for CC issue, € There is a separate local currency account opened specially for a card which is not directly connected to the main account. The deposit to this special account is provided in accordance with the requested time and required amount by client via sending an eBANK message. It is possible to create several cards connected to a single account or to open a separate account for each card
    Distant access to the account There is an online access to the account, which is carried out with the use of a code table PIN / TAN, or electronic generator DIGIPASS. The access to the account is available during 24 hours a day, additional software is not required. Having opened the account, the client receives the individual "Username" and "Password", with the ability to change it after the first access to e-banking. E-banking provides with the following services: account statement, checking the balance of the account, execution of payments, etc.
    Financial products International transfers (EUR, USD, LVL, LTL, RUB, GBP, CHF, etc.); deposits of individuals and legal entities; currency conversion; investment account with the aim of participation in the securities market of Bosnia; depositary services
    Credit/debit cards Cards for ndividuals: Visa Electron, Visa Credit (debit card with the online payment services). Corporate cards: Visa Business
    Hold mail Online access to e-banking. The account statements can be sent via the e-mail on request

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    10 10 Not necessary Detailed Savings & current
    Visit to the bank It is possible to open an account without visiting the country where the bank is located. The account is opening in absentia and this fact complicates the procedure. The set of required documents is to be sent to the Head office of the Bank for the purpose of due diligence procedure. After the examination for compliance the documents should be translated into Serbian and certified by a notary (required by law). The originals are to be sent back to client via DHL. There is also a requirement to register with the tax authorities of Bosnia which doesn't result in any obligations to pay taxes. The procedure of opening bank account usually takes 1.5 weeks. The electronic codes/keys are to be sent to client after opening bank account. Client gets the account details via e-mail
    Required Set of incorporation documents; Power of Attorney; Certificate of Good Standing (if a company is older than one year + annually, to confirm the existence of a company); application for bank account opening; specimen of signatures and seal imprint; contract for bank account opening; contract for Internet services; questionnaire filled and signed by a client (indicates the client's contact detailes; business activity information; financial and payment profile, etc.); beneficiary owner's identification card (passport is not required); application form to register with the tax authorities of Bosnia (the application form is filled by bank's officer in Serbian; the signature of the attorney and seal imprint are needed); Power of Attorney to authorize the bank's office to represent the client at the tax authorities of Bosnia
    Types of accounts Personal; Corporate; Savings; Current
    Opening procedure and Due Diligence It is possible to open an account without visiting the country where the bank is located
    Chances to open an account Predictable
    Business description Any type of business activity, except for gambling, illegal it-services, illegal arms traffic, and other activities prohibited by law. The Bank doesn't open the accounts for the United States residents and the beneficiaries from FATF blacklist
     
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