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19.07.07 In the market of consumer credits the credits unions are loosing their dominant position
According to the head of the Department of Retail Business and Distribution of VAB Bank, Andrey Repko, by the end of the year the share of credits unions in the market of consumer credits will shrink by 20%.
«We now observe a tendency in the reduction of the share of credits unions as a logical process. Every day ever more Ukrainians are taking consumer credits and are searching for more advantageous and cheap loans. From the financial point of view bank credits always were cheaper and even today the variety of the programs with a minimum of documents are appreciated by clients. In addition, the technology of bank credits, foresee the use of credit cards for credits, which will substantially reduce the costs of credits», — Andrey Repko explains.
Reference dataVseukrainsky Aksionerny Bank (VAB Bank) operates in the Ukrainian financial market since 1992 and, according to the National Bank of Ukraine, ranks among the large banks group as to assets. The bank's regional network comprises 25 branches and 137 outlets, as well as a representative office in Budapest (Hungary). TBIF Financial Services B. V. (Amsterdam, Netherlands), a large international company, is one of the bank's shareholders. In October 2006 VAB Bank became a member of the VAB Group.
As of July 1st, 2007 VAB Bank's total assets amount to UAH5.4bn, regulatory capital — UAH563m, share capital — UAH201.4m.
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