In connection with attraction of the new investor the reinsurance company VAB Re walk out on VAB Group. The transaction of a sale on the reinsurance company VAB Re is finished.
According to the VAB Bank Board Chairman Mr. Peter Baron, offers about the sale VAB Re were considered within a year, and the walk out of the reinsurance company VAB Re from structure VAB Group is strategically thought over decision. «We have defined for ourselves priorities of the further development and have decided to refuse from business which is especially specialised for today», - Mr. Peter Baron has commented.
Financial group VAB Group has been created in October, 2006 by the Ukrainian and western shareholders of the Vseukrainsky Aksionerny Bank by consolidation of all financial actives within Ukraine within the limits of the general concept of sales and under the uniform brand «VAB». Today the basic efforts of the group management are directed on introduction and optimisation of new work strategy, it will provide a possibility of granting to clients of a wide spectrum of services in all segments of the financial market.
Reference dataVseukrainsky Aksionerny Bank (VAB Bank) has been operating in the Ukrainian financial market since 1992 and belongs to the group large banks in Ukraine according to NBU. In October 2006, VAB Bank became a member of VAB Group. Branch network consists of 25 branches and 143 outlets throughout Ukraine and a representative office in Budapest (Hungary). A large international company, TBIF Financial Services (Amsterdam, the Netherlands), is among the bank’s shareholders. Total assets of VAB Bank amounted to UAH 6.7 billion as of 01 July 2008.
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