VAB Bank Issued over 7,400 Consumer Loans in Cash
OREANDA-NEWS. April 04, 2011. In January-February 2011, VAB Bank provided over 7,400 consumer loans in cash. The number of loans issued in February 2011 was 1,6 times higher than in January, reported the press-centre of VAB Bank.
“Consumer loan market in growing and new offers that emerge today become an additional incentive for the demand build-up in this debt class. Against this backdrop the banks begin notably to expand potential customer base, gradually penetrating into the mass lending segment. As before, it is the most reliable borrowers having positive credit history with the Bank that may count on the best credit terms – for them, the Bank has developed a number of special offers within the standard package. Such borrowers inter alia include customers covered by the Bank’s payroll projects,” Mr. Anton Shaperenkov, head of retail business marketing department of VAB Bank, says.
According to Mr. Shaperenkov, clients in the described group may be offered UAH 1,000 to UAH 30,000 for up to 36 months at 17% p. a. No earnings certificates are required for loans up to UAH 20,000. Applications are processed within 15 minutes.
“Furthermore, just a month ago VAB Bank launched a new campaign called Spring Discount Assured where each applicant for a cash loan is provided a secure discount off the active interest rate. The size of this discount is marked on a scratch card to be picked out by a customer. We are pleased to see that the offer has achieved the anticipated response: the number of customer applications grows continuously,” the expert points.
The offer is structured to provide for three discount rate alternatives: 15%, 25%, or 50%. One alternative could be used for each loan application. For a borrower who won a 50% discount, debt service would be actually 2 times cheaper than the base tariff.
The Spring Discount Assured campaign is on between February 21 and April 30 at all VAB Bank offices across Ukraine. For more detail please refer to VAB Bank’s official web page.
Reference data
VAB bank has been active on the country’s financial market since 1992. According to the National Bank of Ukraine, it belongs to the group of large financial institutions. Its regional network is represented by 150 branches throughout Ukraine. The major international company TBIF Financial Services B.V. (Amsterdam, the Netherlands) is a VAB Bank majority shareholder. As of July 1, 2010 the bank’s regulatory capital amounted to UAH 888.7 million and the size of its net assets was UAH 7.1 billion.
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