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23.08.07 Head of VAB Bank leaves the bank on expiring of contract
In accordance with the out of court decision of Observant Advice of the Vseukrainsky Aksionerny Bank and on completion of his two-year contract on August, 20 2007.
The Chairmen of the Management Board VAB has relieved Andrey Snegireva of his functions.
Andrey Snegirev was the Chairman of the Allukrainian joint stock bank since August 2005. And from October 2003 until now, he held also the position of Chairmen of the Management Board of «Alpha Bank» (Kiev). Prior to this he worked for about 10 years worked in the Austrian bank group «Raiffeisen» (Kiev) in different leading positions.
«The basic tasks which were put to me by the shareholders have been successfully completed. Therefore I consider my mission in VAB Bank as completed and in the nearest future I plan to concentrate my efforts in the realization of a row of projects on investments», Andrey Snegirev states.
The Chairmen of the Management Board VAB Group (the financial group, into which VAB Bank was integrated in October 2006), Peter Baron, expressed his gratitude to Andrey Snegirev for his professional work and attained results in the time of his activity in VAB Bank. «We highly value the work of Mr. Snegirev on the post of Chairmen of the Management Board VAB Bank. For the last two years under his guidance the bank succeeded, both to go out to the new markets and continue to work in the already conquered segments», — Peter Baron pointed out.
About the nomination of a new Chairman of the Management Board the bank intends to make a declaration in the near future.
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. The result of the 20th emission of shares of VAB Bank, which have been ratified in the meeting of shareholders' of July, 27, 2007, determines the size of regulatory capital as being 670 million UAH.
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