OREANDA-NEWS. On November 11, 2008 VAB Bank has been named as one of three leaders for information transparency among 30 Ukraine’s largest banks rated within the Informational Transparency of Ukrainian Banks in 2008 study, carried out by Standard&Poor's and Agency for Financial Initiatives (AFI) for the third time in Ukraine, reported the press-centre of VAB Bank.

Presently, the Bank holds the 3rd position for the overall score (having been the 4th in 2007), and is number one for the Ownership Structure and Corporate Culture unit.

“Our transparency to shareholders and investors is a strong element of corporate management culture, and findings of a high-profile independent expert have been yet another proof of the high standard of VAB Bank administration,” VAB Bank’s Board Chairman Pyotr Baron highlighted.

The study was based on the methodology developed by the Standard & Poor’s Corporate Administration Rating Service whose core principle is timely and complete disclosure of all information material for investors and other stakeholders (analysts, clients, etc.)

Completeness of available information on critical aspects of bank activity, such as financial position, ownership structure and corporate administration principles, was analysed versus best international practices.  The study was based on information offered in annual reports and web-pages of banks, information from the National Bank of Ukraine, the State Commission for Securities and Stock Market and their affiliated agencies, as well as information on issue of domestic and international bonds.