The leading international rating agency Moody's Investors Service affirmed VAB Bank’s E+ financial strength rating (BFSR), Not Prime short-term local and foreign currency deposit ratings, and long-term national scale rating (NSR) of A1.ua.
According to Moody's, the A1.ua NSR reflects the standing of the bank’s credit quality relative to its domestic peers. At the same time Moody's confirmed the bank’s B2 long-term local and foreign currency deposit and debt ratings and assigned the stable outlook.
The key factors to have influenced the assignment of the stable outlook on local and foreign currency deposit ratings are the bank’s profitability indicators resulting from the active infrastructure expansion and retail business development in line with the adopted strategy. In 2007 the bank improved its positions in this segment.
According to Moody's, a change of outlook to positive may be driven by further reduction of VAB Bank’s costs through the effective risk management system and IT solutions, as well as by maintenance of the bank’s adequate capitalization level and sound asset quality.
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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