OREANDA-NEWS. On August 29, 2007 the supervisory board of Vseukrainsky Aksionerny Bank has named to the post of Chairman of the Management Board of VAB Bank Peter Rasokha. He replaces Andrey Snegirev, who left VAB Bank at the end of his two-year contract, reported the press-centre of VAB Bank.

The supervisory board of Vseukrainsky Aksionerny Bank has named to the post of Chairman of the Management Board of VAB Bank Peter Rasokha. He replaces Andrey Snegirev, who left VAB Bank at the end of his two-year contract.

Peter Rasokha held the position of First Vice-chairman of VAB Bank responsible for the questions of retail business and distribution. He also worked as an external consultant on the reorganization of business-projects and the construction of the distribution network of financial products.

Peter Rasokh graduated from McMaster University (Canada) and has been in the financial sphere for more than 17 years.

Before joining VAB Bank he worked in leading positions for Scotiabank (Canada), GE Capital Bank (one of the leaders’ in the retail credit market in the Czech Republic), and from 1991 for Citibank Prague for whom he developed corporate banking and from 2001 their retail activities.

The President of the VAB Group, Sergey Maksimov, in commenting the appointment, expressed his confidence that under the direction of Peter Rasokh VAB Bank will attain the set strategic aims and foremost strengthen its positions in the retail segment.

"The main vector of development of VAB Bank, which have been defined by the shareholders in the “Strategic Program of long-term development of VAB Bank until 2010” is the strengthening of the position of bank in the retail segment, including small and middle size businesses.
During the last years we carried out the tasks of the strategic plan consistently.

In the current year we increased the number of sales points in the whole of Ukraine by 160, introduced the new concept of sales and re-branding with a strong emphasis on retail, carried out the changes of our business-projects and strategic changes in the organizational structure of VAB Bank.

We are sure that the achievements and experience of Mr. Rasokh in large foreign retail banks will allow us to the progress in the retail activities of VAB Bank, progress in the introduction of world standards in the implementation of business-projects and the quality of service" Sergey Maksimov explains.

The Managing Director and Chairman of the Management Board of TBIF Financial Services BV (Amsterdam, Netherlands), Ivo Georgiev, underlined that the appointment of Peter Rasokh was the proof of TBIF’s commitment to the financial markets of Ukraine. "We have big expectations in the development of the retail sector of VAB, our confidence is based on the understanding of the potential of the Ukrainian market, the successful development of TBIF in the financial markets of eight Eastern European countries and on the progress in transforming VAB Bank in to a retail bank. The combination of the high level of professional know how with our unique experience in constructing retail banking in a number of East European countries, along with the capitalization of investments of VAB Bank, is further documentation on the intentions of TBIF Financial Services BV in the Ukrainian market" Ivo Georgiev states.