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Transparency
Transparent operations and reporting play a crucial part in building up investors’ confidence. Accordingly it is one of the main goals of VAB Bank that the financial figures fairly reflect the results of its operations.
Timely and accurate disclosure is made on all material matters regarding the Bank, including the financial standing, performance, ownership, and governance of the company.
As a result, for two consecutive years VAB Bank has ranked among top five most transparent banks in Ukraine according to Standard&Poor’s Ukrainian Bank Transparency and Disclosure Survey, occupying the 4th place in 2007.
Integrity
The Bank aligns the interests of a wide range of different constituencies such as management, employees, shareholders and creditors as well as takes into account the communities within which they operate.
The Bank facilitates the dialog and open discussions between the Management and Supervisory Board and ensures that all stakeholders are treated equally.
Honesty
VAB Bank has always been diligent in maintaining compliance with its established financial accounting policies, which are consistent with requirements of the Ukrainian Accounting Standards and International Financial Reporting Standards (IFRS) as well as reporting its results with objectivity and the highest degree of honesty.
Corporate management
The Bank complies with the standards of good corporate management common in international business practice that ensures effective monitoring of management by the Board and the Board’s accountability to the Bank and the Shareholders.
The Bank promotes ethical and responsible decision making that implies that the Board should act on a well-informed basis, in good faith, and in the best interest of the Bank.
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