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The high national scale rating is was assigned to the VAB Bank of uaAA grade rating (high stability level)


On October, 21th, 2009 the RA ‘Expert Rating’ awarded the VAB Bank of aa grade rating (equal to uaAА grade in national scale). There is high probability that the bank with the given rating will discharge its obligations with the clients.

See in the rating report the detailed substantiation of rating estimation by Expert Rating RA. When
assigning such a high level of rating estimation, the Rating Committee was guided by the following:
1. VAB bank is a universal financial institute with more than 17 years of operational experience in the
market. The bank belongs to universal financial group which unites under a single brand at once several directions of financial business, such as: insurance, investment and leasing business.
2. VAB bank has a developed line of bank products targeting both private and corporate clients. The Bank introduces actively new technologies for improvement of its products, including the aspect of clients convenience and safety. All the VAB Bank products are accessible to clients through a modern network of offices, considered one of the most ramified in Ukraine.
3. VAB bank owns a good credit history both in the international markets of capitals and on the Ukrainian bond market. Even under crisis conditions the Bank has been paying interests under obligations and repaying syndicated loans in time.
4. VAB bank obtained high level of credit rating namely thanks to the high level of external support, ensured by its key shareholders. The Agency decision in this issue was influenced by the fact of presence in the structure of shareholders of the company TBIF Financial Services B.V., which is an affiliated structure of the company Kardan N.V. The last has market capitalization more than 0.5 billion euro, is listed at Euronext Amsterdam and is actively doing business in the countries of Central and Eastern Europe, China and Middle East.
5. VAB bank has a good system of asset quality management which has been already tested under crisis conditions in Ukraine. The Bank adheres to the policy of maintenance of redundant liquidity and shareholders equity adequacy, that ensures timeliness of discharge of obligations before clients and creditors.
6. VAB bank can expect in the future an increase of the credit rating according to the Ukrainian national
scale up to the level uaAA+ and higher if: it will undertake steps on escalating its market share up to 3%; will reach ROE level of more than 20%; and also will open new sources of shareholders equity replenishment at the expense of public or private offerings.

Rating Report (Engl)

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