OREANDA-NEWS. January 29, 2009. VAB Bank has drawn a bottom line under its 2008 activity results on the financial market of Ukraine, reported the press-centre of VAB Bank.

In the past year, VAB Bank has been able to upgrade some of its performance indicators substantially: balance sheet total reached 11,322,757 thousand hrivnias as of 1st January 2009, demonstrating a 15.3% growth versus 2007; credit and investment portfolio went up by 21.5% reaching 6,570,267 thousand hrivnias.  Bank net assets have shown a 12.8% increase compared to 2007, making 7,748,528 thousand hrivnias, while balance sheet capital value of 901,900 thousand hrivnias is 27.3% larger.

At January 1st, total corporate loans reached 4,216,698 thousand hrivnias and personal loans 930,775 thousand hrivnias, showing 26.7% and 56.8% growth respectively.  Reserves for credit transactions moved up to 237,774 thousand hrivnias.  In the past year, funds of private individuals grew by 16.1% making 2,199,359 thousand hrivnias and funds of corporate clients demonstrated a 14.9% growth versus 2007, reaching 2,218,898 thousand hrivnias.

According to VAB Bank chair Peter Baron, new business approaches and strong management team helped the Bank to maintain development momentum even amid unpredictably volatile market of 2008.  “Good performance of VAB Bank at the end of the year owes primarily to a clearly outlined strategy of its development and excellent work of its team.  Of particular importance were both the support of the shareholders and the revision of client business financial structure.  Implementation of modern technologies and computer-aided mechanisms helped increase our efficiency dramatically,” Peter Baron pointed out.