OREANDA-NEWS. April 07, 2009. VAB Bank is actively involved in currency auctions ran by the National Bank of Ukraine, offering its borrowers opportunity to buy currency, required to retire their debts, at excellent exchange rate. As of 24/03/2009, over 1400 borrowers bought in excess of US 1 million from VAB Bank, reported the press-centre of VAB Bank.

According to Tsvetan Petrinin, Bank’s Deputy Chairman and Head of Retail Business and Distribution, participation in currency auctions and sale of currency at privileged rates is just one of the opportunities the Bank offers its clients to relieve financial stress related to debt repayment. 

 “VAB Bank has so far participated in four auctions to buy currency for its clients at a discounted exchange rate.  Furthermore, while waiting for another auction clients may place funds in national currency at an Unlimited Current Account securing high yield.  If the client is prepared to repay early 10 or more percent of actual balance of debt principal we would offer an exchange rate below that of the National Bank,” Tsvetan Petrinin says.
 
Besides, a lower exchange rate would be available to clients who wish to buy currency for further placement at a Fixed-Term Advantaged Deposit for 6 or 12 months.