OREANDA-NEWS. April 5, 2010. VAB Bank was rated one of top ten reliable banks with the high A+ rank by the results of the 2009 annual survey held by Expert Rating agency. The survey covered banks having at least UAH 1 billion in assets who had no record of evasion from their obligations before creditors. Credit rating was assigned based on publicly available information on a financial institution for the reported period.

According to Credit Rating’s analysts, assessment of a financial establishment amid unresolved economic hurdles and their continuing impact on the banking system should concentrate on the dynamics of shareholders’ equity, quality of credit portfolio, and commitment of the shareholders to supporting the banking business in Ukraine.

Against this backdrop, the assessors qualified positively the fact that albeit the alarming market trend towards virtually zero increment of credit portfolio across the banking system VAB Bank remained among those few who continued issuing loans throughout 2009 and increased its corporate customer credit portfolio by 1.3%.  Also the assessors pointed out high commitment of VAB Bank shareholders – the Dutch TBIF Financial Services B.V. – towards Bank development and support.  In 2009, the company increased its share in VAB Bank’s registered capital to 63.0104%.  The 2009 VAB Bank capitalisation plan was performed in full: its registered capital was increased by 59% to UAH 542.6 m.

“Our bank follows a policy of transparent relations with customers, partners, and shareholders.  We value their trust and support, which is proved, above all, by excellent results and professional consistency.  Active attitude demonstrated by our top-level professionals in various banking disciplines, promotion of state-of-the-art IT solutions, upgrade of current business processes, updating the product line to exceed growing expectations of today’s consumer, preparedness to open dialogue with the market are the elements whose combination helped us maximise productivity of resource utilisation in 2009 and get sufficiently prepared to 2010 challenges.  High reliability rating is of particular significance to us considering this independent assessment carried out by market experts confirms not only adequacy of our today’s priorities but as well the strategic potential of VAB Bank,” Bank chairman Mr Peter Baron summarised.