Group news

VAB Group introduces single tender policy
By the decision of the Supervisory Board of the VAB Group the creation of a tender committee for the financial group VAB Group was decided.

VAB Bank investment portfolio grows in 2007 by 31%
Since the beginning of 2007 the investment portfolio of VAB Bank has grown by 31 %, or 1 billion UAH and on the 1st of August, 2007 totals 4.5 billion UAH.

Before the elections dollar rate will remain stable
According to the head of department of treasury and financial institutes of VAB Bank, Lucas Tursa, the exchange rate of dollar will not change substantially in the months before the elections.

VAB Leasing’s «Express AUTO Leasing» signs contracts for more than 5 million UAH
In the last 6 months VAB Leasing concluded leasing contracts for more than 5 million UAH in their «Express AUTO Leasing» program.

VAB Pension and VAB Bank start a new tariff policy for social payments
VAB Pension came to an agreement with VAB by Bank to reduce the tariffs on the calculation of cash maintenance for clients, when placing money in the PPF «Europe» program.

The depositors of liquidated banks will not remain without the compensation
According to the Head of retail business and distribution of VAB Bank, Andrey Repko, the depositors of liquidated banks will not lose their deposits, if the bank was a member of the fund guaranteeing the holdings of private persons.

Inflationary pressure is not the driving factor in the change of rates on credits and deposits
At present the effective rates on deposits (on which to a great extent depend the rates credits) in Hryvnyas are positive and are about one and a half times the rate of inflation.

VAB Bank grows in savings and current accounts with corporate clients
In July the volume of facilities of corporate clients of VAB Bank grew by 10% and as of 1st of August stands at 1.15 milliards UAH.

65 % increase in credits on car sales expected in the second half of the year
At present more than 55% of the car purchases are done with a credit. Taking into account the continuous improvement in the terms given for car credits, it is possible to assume that by the end of the year the share of sales of cars on credit will make up 60-65%.

In 12 months VAB Leasing concluded leasing contracts for 500 objects
In the period August 2006 to July 2007 VAB Leasing concluded leasing contracts for 500 objects among them vehicles (passenger cars, trucks and busses) and equipment for corporate and individual clients.