News and press

New Progressive Deposit Launched By VAB Bank
VAB Bank product line was updated by the new Progressive Deposit scheme effective 10 October 2008.

VAB Bank Will Finance Residential Development in Kharkiv
VAB Bank has launched a new residential development project in Kharkiv.

VAB Bank released its financial statements under IFRS for the first half of 2008
The Bank ended 1H2008 with the profit of USD 2.8 million compared to USD 0.3 million for the respective period of 2007 and USD 1.8 million for the entire last year. Assets of the Bank totaled USD 1,296 million, showing the growth of 7% since YE2007.

We Are Your Bank Campaign Sets Off at VAB Bank
We Are Your Bank campaign for employees of companies served by VAB Bank under its payroll card programme set off on September 29 2008.

Lviv Municipality Paid Coupon on the B Series Bonds for the 3rd Coupon Period through VAB Bank as the Paying Agent
On 24 September 2008, Lviv municipality operating through VAB Bank as the paying agent paid coupon interest on the B series bonds for the third coupon period. The payment amounted to UAH 1 041 894 or UAH 248.07 per bond.

VAB Bank has formed the new Management Board
On 15 September 2008, VAB Bank held the press conference to introduce the new members of the Bank’s Management Board.

OJSC ”Energoavtomatika” Paid Coupon on B Series Bonds for the 3rd Coupon Period through VAB Bank as the Paying Agent
On 15 September 2008, OJSC “Energoavtomatika” operating through VAB Bank as the paying agent paid coupon interst on the B series bonds for the third coupon period. The payment amounted to UAH 2 530 500 or UAH 36,15 per bond.

VAB Bank G Series Bonds listed on PFTS
On 10 September 2008, the Ukrainian PFTS Stock Exchange (Kyiv) listed VAB Bank interest bearing registered G series bonds (ticker - OVBNG).

OJSC “Sumykhimprom” Paid Coupon on A Series Bonds for the 5th Coupon Period through VAB Bank as the paying agent
On 8 September 2008, 0JSC “Sumykhimprom” operating through VAB Bank as the paying agent paid off coupon interest on the A series bonds for the fifth coupon period. The payment amounted to UAH 2 368 500 or UAH 47,37 per bond.

VAB Bank joined International Bureau of Credit Histories
VAB Bank signed the cooperation agreement with the International Bureau of Credit Histories (IBCH). According to the agreement VAB Bank will share the information about its borrowers with the IBCH. On the other hand the Bureau will provide access for the bank to credit reports and such accessory services as lost passports database, client monitoring system in order to optimize loan portfolio management, etc.