CIB Bank Ltd

Relationship was terminated

GSL reference about the bank

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The relationship with the bank was established in 2000 and has not been regularly maintained since visa regime was introduced. We last contacted the bank in the spring of 2008.  После этого банк принял решение об отказе работы с нерезидентами, если у таковых нет партнеров или интересов в Венгрии
 

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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
    1 028 5 BBB-
    Year of foundation 1979
    History Established 1979 as an off-shore bank authorised to carry out FX operations. In addition to the National Bank of Hungary, the bank's shareholders included leading European and Japanese banks: Banca Commerciale Italiana/Milan, Bayerische Vereinsbank/Munich, Creditanstalt Bankverein/Vienna, The Long-Term Credit Bank of Japan/Tokyo, Société Générale/Paris and The Taiyo Kobe Bank/Kobe. The bank's ownership structure underwent a two-stage change in 1997-1998, and the former minority shareholder Banca Intesa (formerly: IntesaBci) became the exclusive owner of the bank. Intesa Sanpaolo S.p.A., Italy's largest bank group, formed by the merger of Banca Intesa and Sanpaolo IMI and, on the basis of its market capitalisation, one of the most influential participants in the European financial markets, has been the parent bank of CIB Bank Ltd since January 1, 2007. On January 1, 2008 Inter-Europa Bank Zrt merged into Central-European International Bank Ltd (CIB Bank) and name changed as above
    Personnel The bank has Russian-speaking staff
    Bank’s shareholders Intesa Sanpaolo Holding International SA (Luxembourg) - 67, 69%; Intesa Sanpaolo SpA (Milan Italy) - 32,31%
    Confidentiality Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; 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
    200 1 No restrictions
    Transactions permitted per month There are no restrictions as to the number of transactions
    Initial deposit of funds, € The initial deposit is EUR 200
    Deadline for the initial deposit, month Within 1 month of account opening
    Minimum turnover, €/year There are no requirements as to the minimum turnover
    How fast payments are executed The date of value is the second day

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    75 0 500 1 000 10 000
    Outcoming transfer, € Outgoing transfers – 0.15% of the amount, but not less than EUR 1
    Incoming transfer, € Incoming transfers – 0.15% of the amount, but not less than EUR 1
    Account maintenance, €/year The account maintenance fee is EUR 500 per year
    Payment limit for credit cards, €/day Master card – EUR 1 000 per day; Visa – EUR 2 000 per day
    Funds to be blocked for CC issue, € The insurance coverage for VISA cards is USD 10 000
    Distant access to the account 1) Fax with a code word; 2) Bank-Client system allows to manage and view the account via Internet; 3) TeleBank system allows to check the current balance of the account by phone 24 hours a day
    Financial products Cheque books. Letters of credit. Guarantees (0.3% of the amount per quarter, the guarantee is issued for the 90% of the blocked amount)
    Credit/debit cards Master Card, VISA. They can be issued after 3-6 months of work with an average balance of over USD 50 000

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    14 14 Not necessary Detailed Current
    Visit to the bank A visit to the bank is obligatory
    Required Filled in bank forms; copy of the client’s passport; client’s CV; standard set of corporate documents. The translation of documents on the Hungarian language
    Types of accounts Personal; Corporate; Current
    Opening procedure and Due Diligence it is possible to open an account without visiting a professional introducer
    Chances to open an account Predictable
    Business description Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed
     
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