According to the research made by the Innovative Research Solution marketing agency VAB Brand is well known to the half of the respondents, who characterized it to be a “modern, dynamic and European” brand.
The agency has made the research to evaluate the VAB brand within the banking category. They questioned more than 1500 respondents aged from 21 to 55 years in 6 largest and in 6 mid-level cities of Ukraine with a population of 100,000 or more. The research has shown that VAB bank is known to 47% of respondents, while one year earlier, according to the research result, the recognition level was only 18%.
According to the marketing director of VAB Group Alex Garmash, not many trade marks in Ukraine managed to reach such level of recognition within only 7 months since the advertising campaign of the new brand started, especially taking into account that it is a highly competitive category with a large number of banks.
Bank rebranding was announced in February 2007. New advertising campaign was started in August 2007.
Reference dataVAB Group was found by Ukrainian and western shareholders of All Ukrainian Joint Stock Bank in October 2006. It consists of nine companies covering all segments of financial market, i.e. VAB Bank, VAB Insurance Company, VAB Life insurance company, VAB Leasing Company, VAB Pension — administrator of pension funds, VAB Express — consumer-crediting company, VAB Re — Reinsurance Company, VAB Assets Management Company and VAB Capital Investment Company.
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