VAB Bank saw a 20% increase in the number of deposits made by private individuals as of 1 January 2010 versus 1 January 2009.
The Bank has been demonstrating consistent growth of its passive base throughout the second half of 2009, outrunning the growth rate shown by the banking industry as a whole. Say, in December the Bank attracted UAH 108 m to individual accounts achieving 6% increase exceeding the same indicator for the banking system in general by more than 4%.
“The result of the past year materialised owing to innovative products, proper strategy of their market launch, and implementation of loyalty programmes and special offers aimed at their support and promotion,” Mr Anton Shaperenkov, head of retail business product management department of VAB Bank, commented. “By expanding significantly our banking product line we sought to cover the broadest range of customer expectations regarding deposit reliability and convenience currently existing. At the same time, these achievements would not have been possible save for support of our customers, albeit any innovations.”
The highest customer activity was registered in respect of the Weekly Deposit and the Active Savings card attracting in aggregate nearly UAH 300 m as of 1 January 2010.
In looking to strengthen the growing demand to banking products within the retail market segment VAB Bank analysts introduced several loyalty programmes in 2009, such as addition of extra interest points to base rate on automatic deposit renewal.
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. Branch network consists of 150 outlets throughout Ukraine and a representative office in Budapest (Hungary). TBIF Financial Services B.V., a large international company based in the Netherlands, is among the bank’s shareholders. Total assets of VAB Bank amounted to UAH 7.3 billion as of 1 January 2010, regulatory capital – UAH 1,195 million.
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