News

Fitch Revised Eleven Ukrainian Banks’ Outlook
Fitch Ratings changed the Outlooks for eleven Ukrainian banks, including VAB Bank, from Stable to Negative and affirmed the assigned ratings. This is the second wave of rating revisions by Fitch over the last two months and the first review for VAB Bank.

VAB Bank summarized results for the 3Q2008 under IFRS
VAB Bank ended 9 months 2008 with profit of USD 3.1 million compared to USD 0.1 million for the respective period of 2007.

Dnepropetrovsk research factory "Energoavtomatika" Ltd has established the rate for 5-8 coupon periods under Series B bonds at the annual rate 23 %
Dnepropetrovsk research factory "Energoavtomatika" Ltd informs about an interest rate establishment under Series B bonds for 5-8 coupon periods at the annual rate 23 %

The Chairman of Board VAB Bank Peter Baron has presented formation stages and development of a successful retail chain at 3-rd annual Ukrainian Bank Forum of Adam Smith Institute
In the speech at 3-rd annual Ukrainian Bank Forum of Adam Smith Institute The Chairman of Board VAB Bank Peter Baron has informed about formation stages and development of a successful retail chain VAB Bank which promoted its successful functioning even in today's uneasy conditions. «Thanks to the work done by us, the target audience has apprehended VAB as modern bank with high service level», - Mr. Peter Baron has told.

VAB Bank is a Leader in S&P Transparency Survey
For the third consecutive year VAB Bank ranks among the top most transparent banks in Ukraine according to the survey conducted by Standard & Poor’s Corporate Governance Services jointly with the Financial Initiatives Agency. According to 2008 results, VAB Bank ranks 3rd with the transparency score reaching 66.3% (falling only 0.2% short to the second place) and outperforming its fourth position in 2007. This year VAB Bank was placed first in the “Ownership Structure and Shareholder Rights” category with 71.8% disclosure.

The Deposit Portfolio of VAB Bank has increased to 1865 million hryvnia for last two weeks.
About 50 % of the deposits involved VAB Bank for last two weeks are opened within the limits of the new deposit action «See the World» which started on October, 20th, 2008. The Deposit Portfolio of urgent resources of the Bank has grown thus to 1865 million hryvnia.