OREANDA-NEWS. January 31, 2011. The new issue registration having been completed, share capital of VAB Bank increased by UAH 550 million (or over 78%) and totals UAH 1,248.6 million as of today. All shares of the new issue have been placed and the capital has been fully paid-in, reported the press-centre of VAB Bank.

Following the capital increase, TBIF Financial Services B.V., the Bank’s majority shareholder, has carried out negotiations and informed about a sale of a controlling interest in VAB Bank to a group of international investors represented by Troika Dialog investment bank. Kardan N.V., acting through TBIF Financial Services B.V., decided to sell the controlling stake in the Bank following a strategic review.

The new shareholders fully share the development strategy of VAB Bank, put trust in the international top management team of the Bank and are ready to support and develop the Bank in the future.

“We are grateful to the international investment group Kardan that had been supporting the bank over the recent turbulent for the Ukrainian market years. During this period the Bank managed to carry out internal reorganization, introduce best banking technologies and accumulate high liquidity that allowed the bank to meet its debt repayment obligations and to take an active position in lending.

We go ahead and the new shareholders will support our further advance and development. We will be in a position to elaborate on this issue after all legal formalities have been completed.

Our position remains unchanged: as before, we remain innovators in the market. We will continue to offer our customers and partners flexible and advantageous products. Having strong capitalization and high liquidity, we will continue to occupy leading positions in many segments”, — stated Petr Baron, VAB Bank CEO.