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14.08.07 The depositors of liquidated banks will not remain without the compensation
According to the Head of retail business and distribution of VAB Bank, Andrey Repko, the depositors of liquidated banks will not lose their deposits, if the bank was a member of the fund guaranteeing the holdings of private persons.
According to the Head of retail business and distribution of VAB Bank, Andrey Repko, the depositors of liquidated banks will not lose their deposits, if the bank was a member of the fund guaranteeing the holdings of private persons. «Payment of guaranteed holdings of physical persons by the compensation fund through certain clearing agents is carried out within three months of the date of stating the inaccessibility of the holdings. In the case of a liquidation of a bank this term can be prolonged to six months. If a depositor does not get compensation under these terms, the payment is carried out on the basis of the consideration of the individual’s appeal to the fund. The appeal by the depositors can take up to three years. The depositor can however draw interests, gained (but not claimed), up to the day of the inaccessibility of his deposit. It is necessary to take into account that the total amount of holdings and the share of each bank must not exceed the amount assured for the holding», - 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 UAH5.6bn, regulatory capital – UAH546m, share capital – UAH201.4m.
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