OREANDA-NEWS. October 19, 2010. Standard & Poor’s recognized VAB Bank as the most transparent bank in Ukraine for the second consecutive year. The survey was conducted among 30 largest Ukrainian banks by S&P Corporate Governance Services jointly with the Financial Initiatives Agency and supported by the USAID Capital Markets Project, reported the press-centre of VAB Bank.

VAB Bank proved to be the most transparent in 2010 with the total transparency score of 65.1%. S&P remarked that the Bank’s highest score was in “Ownership Structure and Shareholder Rights” category, “reflecting the Bank’s affiliation with an international financial group”.

“VAB Bank is the only one of the 2009 top-three that succeeded in retaining its leadership this year. This high achievement recognizes our efforts and work towards balanced and consistent policy of disclosing information to our clients and partners. And we truly believe that they benefit from openness and transparency, which provides them with the complete vision and understanding of the Bank they work with”, commented Mr. Lukas Tursa, VAB Bank Deputy Chairman, Head of Treasury and FI.

The survey is a research project by Standard & Poor's based on public information alone. Its methodology is based on 116 criteria of disclosure grouped in three blocks: Ownership structure and shareholder rights, Financial and operational information, and Board and management structure and processes.

More information on Ukrainian Bank Transparency and Disclosure Survey 2010 could be found at http://www2.standardandpoors.com/spf/pdf/equity/press_release_Ukr_TD_Eng.pdf. The full report on survey is available at http://www.capitalmarkets.kiev.ua/download/sp_2010_en.pdf.