Group news

VAB Bank Ranks 4th in Information Transparency
By the results of the second Ukrainian Bank Transparency and Disclosure Survey conducted by Standard & Poor's and Financial Initiatives Agency VAB Bank has escalated by 1 notch in information transparency rating of 30 largest Ukrainian banks in 2007 and is on the fourth position at the moment (the Bank was ranked fifth by the results of survey in 2006).

VAB Bank started a new IT project, based on Microsoft products
MKS System Integration will be constructing a new IT infrastructure based on the products and technologies of Microsoft corporation for VAB Bank. The company became a winner of the tender to fulfill this job for VAB Bank.

VAB Bank successfully repaid E Series Bonds for the Total Amount of UAH 50 million
VAB Bank paid 8th coupon and repaid a 2year bonds of E series on the total amount of UAH 50 million. The payment was carried out in full amount and in time, according to the emission.

VAB Bank successfully completes the placement of F-Series Bonds for 150 million UAH at 12.0%
VAB Bank has successfully completed the placement of F-series bonds with the following brief description

The loyalty program of VAB Bank and VAB Express attains 30 %
From the middle of September, 2007 VAB Bank and VAB Express (company of the group specialized in delivering consumer credits) conducted among their clients a loyalty program «Blank credit for the clients of VAB Express».

VAB Re entered the Guard-500
VAB Re received a certificate “For the economic development” and entered “Guard-500”rating, which is prepared by Galytski Kontrakty. VAB Re Chairman of the Board Alla Voloshina reported on November 2nd, commenting the rating's results.

VAB Leasing answer questions on leasing
On November, 01 on the site of VAB Leasing (www.vableasing.com.ua) a new section called «Ask about leasing» will be available. It will be possible to question and obtain competent advice from the experts of VAB Leasing, everybody, who is interested in leasing can use this section.

VAB Bank increases rates for private clients
As from October, 29, 2007 VAB Bank increased the rates of holdings of private clients in national and foreign currencies. For the different type of holdings in Hryvnyas and US Dollars the rate were increased by 0.75% and for Euro by 0.5%.

VAB Bank trains employees of customers in trade-services
VAB Bank is actively developing their network of POS-terminals for pay cards in companies. As from the beginning October 2007 the network of VAB Bank POS-terminals numbers 332, which is an increase since the beginning of year of 23%.

Revaluation of Hryvnyas is only a matter of time
According to the acting head of risk management of VAB Bank, Alexander Omel'chenko, at present the Hryvnyas is undervalued. The correct value of the UAH/$-rate should be at a level of 4,5-4,8 UAH/$.