Private Banking was a prerogative of the banks from Switzerland, Luxembourg and Monaco for a long time

Alexey Alexandrov, Assistant Chairman of the Board, Head of the Private Banking Department of JSCIB “UkrSibbank”

Notion and actually economic term of Private Banking were a prerogative of the banks from Switzerland, Luxembourg and Monaco – European business centers, kind of trend setters for major private capital services. But as welfare of the European citizen grew, the so-called “onshore” direction of Private Banking came to a fore.

In fact, it is the same classical Private Banking business, but operating within one country – taking into account all legislative restrictions and additional factors, as well as interests of a client in this country. Customer segment – High Net Worth Individuals (HNWI), individual service being rendered to every customer, more flexible policy, special VIP offices for service and other insignia, which is necessary for classical work with major private capital remain unchanged for this business direction.