Group news

VAB Bank pays coupon on 3-year Eurobonds
On 14 December 2009, VAB Bank paid the fifth coupon in the amount of USD 6.3 million 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 Declared among Top Three Ukrainian Banks for Retail Banking Service Quality
VAB Bank was named one of the Ukraine’s three retail banks with the best quality of service by the results of a survey completed by the Ukrainian business magazine Expert who rated VAB Bank as number two.

VAB Bank November 2009 Performance Results
Become a Millionaire programme set off at VAB Bank this November, offering UAH 1,000,000 as a chief award. Any programme participant will receive a guaranteed prize: 0.1% to 15% of extra interest atop standard deposit rate until the nearest deposit renewal.

VAB Bank is #1 in S&P Ukrainian Bank Transparency and Disclosure Survey 200
S&P recognized VAB the most transparent bank in 2009. The survey was conducted by Standard & Poor’s Corporate Governance Services jointly with the Financial Initiatives Agency among 30 largest Ukrainian banks.

VAB Bank Pays Out Interest Income on Its F Series Bonds
On 30 November 2009, VAB Bank disbursed interest income for the tenth coupon period. The amount disbursed per bond was UAH 44.88.

Credit Rating Agency Names VAB Bank among Three Most Transparent Banks for 2009
The survey completed by Credit Rating agency named VAB Bank one of the three most transparent banks in 2009.

VAB Bank Summarized Results for the 3Q2009 Under IFRS
Over the third quarter 2009, assets of VAB Bank reduced by 2.5% (12.5% for 9 months 2009) to USD 812.3 million. The Bank continued accumulating its impairment provisions (USD 48.5 million for 9 months 2009, USD 39.1 million of which are attributable to the impairment of interest earning assets), which put pressure on its profitability and resulted in USD 37.5 million net loss for 9 months 2009.

VAB Golden Ingot Sales Show 24.2% Growth
The growing investment attractiveness of gold has been observed throughout this year.

Haim Kapelnikov Appointed VAB Bank Deputy Chairman for Corporate Business
VAB Bank Supervisory Board decided to appoint Mr Haim Kapelnikov deputy chairman for corporate business and VAB Bank’s corporate business director.

VAB Bank Offices Move to More Convenient Schedule
This November, VAB Bank changed operating hours of some of its offices making them more convenient for clients and extended working time of cash desks.