KIEV, Dec. 28 – The National Bank of Ukraine has permitted the reorganization of Dongorbank through its joining to First Ukrainian International Bank (FUIB, both based in Donetsk), FUIB reported.

"With the regulator's permit to merge the SCM Group's financial institutions, we could say about the legal start of the FUIB and Dongorbank's integration. We're absolutely sure that the merger would be smooth and it would be finalized in the second half of 2011," said Ilya Arkhipov, SCM director of business development.

FUIB also says that the NBU approved a reorganization plan through the Dongorbank's joining to FUIB, which was earlier endorsed by the decree of the common shareholder of the two banks – SCM Finance Ltd.