Group news

Moody’s Changed Ukrainian Banks’ Rating Outlooks
On 30 December 2008 Moody's Investors Service changed the outlook from stable to negative on the long-term global local and foreign currency deposit/debt ratings of 19 Ukrainian banks, including VAB Bank, and affirmed the assigned ratings. Moody's also downgraded the National Scale Rating (NSR) of 6 banks, VAB Bank among them. Currently VAB Bank’s NSR is A3.ua.

VAB Bank’s Website Voted Top at Website and Annual Report Contest
Website of VAB Bank (www.vab.ua) has won the highest score in the “Bank’s Best Website” nomination of the Website and Annual Report Contest arranged for the fourth time under the auspices of the auditors’ Big Four (Ernst & Young, Deloitte, KPMG, and PricewaterhouseCoopers), the Association of Ukrainian Banks, and representatives of the media.

VAB Group has finished the transaction of a sale on the reinsurance company VAB Re
In connection with attraction of the new investor the reinsurance company VAB Re walk out on VAB Group. The transaction of a sale on the reinsurance company VAB Re is finished.

By means of the paying agent VAB Bank "Dnepropetrovsk research factory "Energoavtomatika" Ltd has paid the percentage income for 4th coupon period under Series «B» bonds.
On December, 15th, 2008 by means of the paying agent VAB Bank "Dnepropetrovsk research factory "Energoavtomatika" Ltd has carried out the fourth payment of the percentage income under Series «B» bonds.

AB Bank is in the top five by research’s results of bank’s clients with the income more than $400 USA in a month on one member of a family
VAB Bank together with the research company Touchpoll Ukraine has summed up 2nd wave of tracking syndicate research of bank’s clients with the income more than $400 USA in a month on one member of a family.

VAB Bank pays coupon on 3-year Eurobonds
VAB Bank paid the third coupon in the amount of USD 6 328 125 on the 3-year Eurobonds due in June 2010. The coupon is paid semi-annually at the rate of 10.125% per annum.

VAB Bank has paid the coupon income for 3rd percentage period under Series bonds "G"
On December, 01st, 2008 VAB Bank has paid the coupon income under Series bonds "G" for the third percentage period. The outpayments have made 32.41 hryvnia on one bond.

VAB Bank has paid the coupon income for 6th percentage period under Series bonds "F"
On December, 01st, 2008 VAB Bank has paid the coupon income under Series bonds "F" for the sixth percentage period. The outpayments have made 34.9 hryvnia on one bond.

Fitch Revised Eleven Ukrainian Banks’ Outlook
Fitch Ratings changed the Outlooks for eleven Ukrainian banks, including VAB Bank, from Stable to Negative and affirmed the assigned ratings. This is the second wave of rating revisions by Fitch over the last two months and the first review for VAB Bank.

VAB Bank summarized results for the 3Q2008 under IFRS
VAB Bank ended 9 months 2008 with profit of USD 3.1 million compared to USD 0.1 million for the respective period of 2007.