OREANDA-NEWS. September 05, 2007. At the conference the intermediate results of the activity of VAB Bank were presented, reported the press-centre of VAB Bank.

In the press-centre of Interfax-Ukraine press agency (8/5а Reyterskaya str) a press-conference was held on the "Program of the long-term development of the VAB Bank  until 2010". At the conference the intermediate results of the activity of VAB Bank were presented and the strategic priorities in the context of the situation and tendencies in the developing financial markets of Ukraine and East Europe countries were explained.

In particular,  the President of the VAB Group, Sergey Maksimov, pointed out to the journalists the first implementation of the banks strategy of constructing a retail infrastructure was successfully completed.

"Results are given to assert that we attained the desired. Including the new operation system, conducted business-process, creation of a modern risk-management system, carried out cardinal changes of the organizational structure of the bank, formed the new command of managers, opened the first points of sales and building on the сross-selling ideology of financial service" - Sergey Maksimov explained.

"By the end of 2007 we will complete forming the regional network of VAB Bank;  all our regional subdivisions will have been re-branded and in the next three years we will concentrate our efforts on making our retail business model work effectively" he underlined.
Nissim Zarfati, General Director and Chairman of the Board of Kardan Financial Services;

associated shareholder of VAB Bank and of TBIF Financial Services BV (Amsterdam, Netherlands) answered questions on the strategy of the Group Kardan in  Ukraine and the countries of Eastern Europe in the light of the situation in the world financial markets. Speaking about the plans of Kardan in Ukraine Mr. Zarfati mentioned in particular the following "We have great expectations in the development of the retail business of VAB Bank". Appointing as Chairman of the Board of VAB Bank Peter Rassokha, who has European experience in the building up retail banking, along with our investments in the capitalization of VAB Bank, is a confirmation of the serious intentions of Kardan Financial Services in the financial sector of Ukraine", - he summed up.

The Chairman of Board VAB Group, Peter Baron, gave more details to the questions of the development of the new brand of "VAB – More than bank", to the innovative concept of maintenance of users "Financial Guide" and the creation of new channels of sales of VAB.
"In understanding clients we create a new appearance of the financial institute.  VAB – is not only a bank, it is a provider of financial services which are delivered to users through the various channels of sales; our branches, separations, agent network, internet and call–center.
Also within the framework of measures on the development of new channels of sales until the end of the current year in the VAB Group a company will be created with the working name VAB Direct, which will supervise the sale of financial products through an agent network. To improve the presence of the new appearance of VAB for the users of financial services as from the end of August a Ukrainian publicity company started advertising the brand", – Peter Baron said.

The Chairman of Board VAB Bank, Peter Rasokha, told journalists about his experience on restructuring of banks in Czekh and Slovakia, explained plans and the realization of the tasks of "Program of long-term development of VAB Bank until 2010 year", in particular, in the field of standardization of business-processes, construction of the system of risk-management, creation of an IT platform and the introduction of modern marketing and HR technologies.