The Supervisory Board of VAB Bank has agreed to accept resignation of Mr. Petr Rasocha from the position of the Chairman of the Management Board of VAB Bank due to family reasons. However, Mr. Rasocha will continue to act as the advisor to VAB on retail business development.
Mr Petr Baron, current Chief Executive Officer of VAB Group (the largest member of which is VAB Bank), will take over the office of the Chairman of the Management Board (CEO) of VAB Bank.
Mr. Baron joined VAB in 2005; first he held the position of First Vice-President of VAB Bank and in 2007 was appointed as CEO of VAB Group. He has 10 years of banking experience working in Russia and Macedonia and Ukraine. Has a degree in Investment and Financial Risk Management from CITY University Business School, London, England.
Reference dataVseukrainsky Aksionerny Bank (VAB Bank) has been operating in the Ukrainian financial market since 1992 and belongs to the group large banks in Ukraine according to NBU. In October 2006, VAB Bank became a member of VAB Group, a full-service financial group. Branch network consists of 25 branches and 143 outlets throughout Ukraine and a representative office in Budapest (Hungary). A large international company, TBIF Financial Services (Amsterdam, the Netherlands), is among the bank's shareholders. Total assets of VAB Bank amounted to UAH 6.7 billion as of 01 February 2008, total capital — UAH 675 million.
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