OREANDA-NEWS. May 18, 2009. By the results of the Expert Rating agency’s traditional annual survey for 2008 VAB Bank was named one of the 10 most reliable banks having UAH 1 billion or more in assets. The Bank was awarded the highest А+ rating, reported the press-centre of VAB Bank.

Although following revision of certain valuation methodologies the reliability rating became more conservative in 2008, VAB Bank has succeeded in upgrading its position dramatically: from number 27 in 2007 to number 10 in 2008.

“Reliability of our Bank is demonstrated not solely by substantial growth of its financial and economic indicators, but no less by the fact that we have continued to retire deposits and process payments systematically even amid the economy hurdles, working primarily to sustain interests of our clients.  An important role in stable operation of the Bank belonged to implementation of new products and state-of-the-art information technologies improving our operational efficiency immensely.  We are happy that stable and reliable stance of our Bank has been verified by findings of an independent rating agency,” Bank chairman Petr Baron said.

Expert Rating has a favourable view of growth dynamics of the Bank whose shareholders have declared readiness to invest extra US\\$ 100 million in the Bank’s capital over 2009.  VAB Bank equity grew by 26% and assets by 9% between 1 April 2008 and 1 April 2009.  Thus the Bank has continued to increase its capital adequacy ratio, and its shareholders to manifest in practice their commitment to invest in their Ukrainian banking operation.