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24.07.07 Holdings in Hryvnyas are a hard competition to foreign currency holdings
The result of the second quarter 2007 shows that VAB Bank has deposits in UAH of more than 572 million UAH, which is 45% of the total holdings of individuals.
The structure of deposits of individuals in foreign currencies is about 42 % — in US Dollars and 13 % in Euros.
According to the head of retail business of VAB Bank, Anton Shaperenkov, Ukrainians are more often opening saving accounts in Hryvnyas. «First of all, it is due to the stability of the national currency exchange rate and attractive deposits rate. Secondly, most of the depositors today get their salary in Hryvnyas, and the purchase of other currency brings them additional costs. In addition, level of the interest on deposits in Ukraine is now higher, than in neighboring countries and Europe, for many Ukrainians' the interest on holdings in Hryvnyas has become an attractive additional profit. The situation on the deposit market over the last 3 years shows that those who believe in the Hryvnyas got a big income», — Anton Shaperenkov 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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