|Public Joint Stock Company|
|Defunct||November 21, 2014|
It was founded in 1992. On November 21, 2014, during the economic and banking crisis in Ukraine, there was introduced a new temporary administration of the bank. VAB Bank, as well as 99 other Ukrainian banks among 180 (existing in 2013), was withdrawn from the market by the NBU decision. The funds of VAB Bank clients were paid by the Deposit Guarantee Fund of Individuals.
VAB Bank was a universal credit and financial institution with foreign investments. It has provided all the banking operations that include: corporate and retail customer service, investment banking, international customer service, interbank operations.
On July 2, 1992, the bank was founded in Kyiv. Since 1995 the bank was controlled by Sergiy Maksimov, the Russian entrepreneur.
On October 2009, it faced the need for refinancing and received the assistance from the National Bank of Ukraine. During the crisis, the VAB Bank was supported by the Dutch-Israeli Kardan Fund (according to its subsidiary structure), which share reached 71% in the capital of the bank in 2010.
At the end of 2010, the bank early repaid the NBU, what is more, at the beginning of 2011 repaid the bonds placed in August 2008, thus fully repaying internal borrowings. In winter 2012, Sergiy Maksimov was accused of committing crimes in accordance with the Criminal Code of Ukraine. According to the statement of militiamen, using official position, Maksimov insisted on granting loans for tens of UAH millions to the commercial structures controlled by him in 2008. About 40 millions of the money were appropriated for further legalization. According to the court decision, Sergiy Maksimov was released on bail of UAH 5 million.
Owners and management
According to the legislation of Ukraine and the Bank Articles of Association, all shareholders of the bank had the right to participate in the management of the bank; in the distribution of profit and receiving a part of it in the form of dividends; in managing the shares in accordance with the current law, including the disposition of them; in receiving reliable and timely information about the corporate changes and activity of the bank. At the same time, the shareholders had to carry out their duties at the bank, including property obligations, and were responsible for keeping the confidential information secret.
As of January 1, 2013, the ownership structure was as follows:
|Shareholder||Holder of common stock||Percentage|
|Oleg Bakhmatyuk||1 688 659 199||82.6851%|
|Kirkville Management Lmd.||107 674 997||5.2723%|
|Minority shareholders||240 733 461.1||11.7875%|
|In general||2 042 277 507||100%|
The holder of 86,778% of PJSC VAB Bank shares was Quickcom Ltd (Cyprus), the company of Oleg Bakhmatyuk.
Indicators of activity
On April 1, 2012, total assets of the bank amounted to UAH 11.3 billion. Consisting 80% of loans to legal entities, the credit portfolio formed 55% of the total assets. The rest amounted to the investments on liquid assets and securities – 10% and 5% of assets respectively. The majority of liabilities, approximately 65%, was formed by individuals. The liabilities amounted to UAH 5.3 billion. The remaining number was related to the money of other banks and legal entities – 8% and 17% respectively; other borrowed funds – 14%; subordinated loans – 5%. Despite the fact that the bank made a profit of UAH 1 million in the second quarter of 2014, the board of the NBU adopted a resolution on the classification of VAB Bank as insolvent on November 20, 2014, as the NBU press service reported. On November 21, the Deposit Guarantee Fund introduced a temporary administration into the bank and appointed an authorized person. Due to the refinancing of the bank by the NBU and other liabilities, as well as other withdrawn from the bank market by the NBU, the bank has had a debt to the NBU and the Deposit Guarantee Fund. Oleg Bakhmatyuk has been the single one owner of the bank who suggested to repay the debt of the bank using a restructuring mechanism.
- On December 29, 2011, the rating agency Expert-Rating made a decision on credit rating of VAB Leasing LLC and its issuance of bonds at uaBBB+ level according to the national scale.
- The rating agency Expert-Rating approved the credit rating of VAB Bank at uaAA level (very high reliability of the bank in a long period).
- VAB Bank was recognized as Reliable Partner for Business according to the results of TOP-100. Business Solutions research that has been undertaken by the Investigation Centre Rating TOP 100@.
- VAB Bank has taken the 1st place in the Banking Transparency Ranking of Ukraine according to the information transparency of the 30 largest banks (by the number of assets as of July 1, 2011) operating in Ukraine. The research was held by the Ranking Agency Credit Rating together with the Agency of Financial Initiatives (AFI), supported by the USAID project The Financial Sector Development (FINREP).
- The rating agency Expert-Rating approved the credit rating of VAB Bank at uaAA level according to the national scale. This ranking level means very high reliability of the bank in a long period. According to the results of a yearly research, held by the rating agency Expert-Rating, as of 2009, VAB Bank was included in the top ten of the bank reliability rating and received the highest rating mark A+.
- VAB Bank has become one of the 5 leaders according to the research 25 Best Suggestionsof Ukrainian Banks on Payment of Pensions by RA Expert-Rating.
- VAB Bank has become one of the 5 best financial institutions by the quality of the mobile service according to the evaluation of the Ukrainian Association of Direct Marketing (UADM).
- VAB Bank has become one of the 3 leaders in the service ranking of the largest retail banks of Ukraine. The study was conducted among 25 banks on the principle of a “mystery shopper”.
- VAB Bank has taken the 1st place in the information transparency rating among the 30 major banks of Ukraine.
- VAB Bank became one of the 3 most transparent banks in 2009 according to the Ranking Agency Credit Rating.
- VAB Bank has been recognized as the best trade mark in the nomination Impeccable Quality according to the results of the annual national competition Brand of the Year – 2009.
- VAB Bank was included to the TOP-5 banks trusted by secured Ukrainians, according to the April poll of city residents where population mark stood for 100 thousand or more people, and an average monthly income was over UAH 3 thousand. The poll was conducted by the research company Touchpoll Ukraine.
- In 2008, VAB Bank was one of the TOP-10 in the banking reliability rating among the banks with assets of at least UAH 1 billion, receiving the highest rating mark A+ according to the results of the traditional yearly research, conducted by the rating agency Expert-Rating.
- According to the results of the national rating Favourites of Success – 2012 that determined the level of public trust in trademarks of goods and services, VAB Bank took the 1st place in the nomination Deposit Program of the Year, following the survey of a jury of Ukrainian celebrities and public figures.
- "VAB BANK PJSC declared insolvent". old.bank.gov.ua. Retrieved 2019-12-13.
- "Deposit Guarantee Fund: Bakhmatyuk offered to pay VAB Bank's debt but NABU case prevented this from happening". www.unian.info. Retrieved 2019-12-13.
- "Deposit Guarantee Fund: Bakhmatyuk offered to pay the debt of VAB bank, but NABU case prevented it – Depo.ua". www.depo.ua (in Ukrainian). Retrieved 2019-12-13.
- "KARDAN SELLS ITS BANKING OPERATIONS IN UKRAINE (VAB BANK)" (PDF). Zone Bourse. Retrieved 13 December 2019.
- "PJSC Vseukrainskyi Aktsionernyi Bank v Maksimov & Ors |  EWHC 3203 (Comm) | England and Wales High Court (Commercial Court) | Judgment | Law | CaseMine". www.casemine.com. Retrieved 2019-12-13.
- Leigh, David; Ball, James; Garside, Juliette; Pegg, David (2015-02-12). "HSBC files: Swiss bank hid money for suspected criminals". The Guardian. ISSN 0261-3077. Retrieved 2019-12-13.
- "Топ-10 финансовых афер страны". gazeta.comments.ua. Archived from the original on 2012-08-08. Retrieved 2012-07-20.
- "Bakhmatyuk signs option agreement to buy majority of VAB Bank — Concorde Capital". concorde.ua. Retrieved 2019-12-13.
- "Proud and dependent. Landlord inquired holdings UkrLandFarming and Mriya about their treatment". LANDLORD. 2015-12-17. Retrieved 2019-12-13.
- http://vab.ua/ukr/investor_relations/corporate/shareholders/ Акціонери VAB Bank
- через Quickcom Lmd., Кіпр
- http://www.vab.ua/ukr/press_centre/news/o-bakhmatyuk-pridbav-kontrolniy-paket-akts-y-vab-banku/ VAB Bank: О. Бахматюк придбав контрольний пакет акцій VAB Банку
- Country Profile 2013. Ukraine at a Glance (PDF). The American Chamber of Commerce in Ukraine. 2013. p. 21.
- Valchyshen, Alexander; Kyrushko, Andriy; Kotovych, Taras (January 2012). Banking sector primer. From lending to landing. Investment Capital Ukraine.
- "National Bank of Ukraine classifies VAB Bank as insolvent - Nov. 21, 2014". KyivPost. 2014-11-21. Retrieved 2019-12-16.
- "VAB Bank case: expertise refutes the charges of NABU (documents)". www.dsnews.ua (in Russian). Retrieved 2019-12-16.
- "ООО "VAB Лизинг" — expert-rating.com". www.expert-rating.com. Retrieved 2019-12-16.
- "РА "Эксперт-Рейтинг" подтверждает кредитный рейтинг VAB Банка на уровне uaAA по итогам первого квартала 2011 года — expert-rating.com". www.expert-rating.com. Retrieved 2019-12-16.
- "B2B. Решения для бизнеса. Банки" (PDF). Archived from the original (PDF) on 20 December 2016. Retrieved 19 March 2012.
- "Achievements". www.vab.ua. Retrieved 2019-12-16.
- "Асоціація українських банків — Прес-центр". aub.org.ua. Retrieved 2019-12-16.