Moneygram International expands reach in Ukraine

|By:, SA News Editor

MoneyGram International (MGI +0.3%) continues its developing market expansion efforts (Mexico, Greece, Turkey), striking a deal with First Ukrainian International Bank to offer its money transfer services at all of the bank's locations.

FUIB serves more than 1.5M individuals. Due to Ukraine's high emigration rate, ~86% of customers receive fund transfers from other individuals.