VAB Bank

**VAB Bank**
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**History**
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The VAB Bank (All-Ukrainian Joint Stock Bank) was founded on July 2, 1992, in Kyiv, Ukraine.

**Ownership and Management**
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Initially, the bank was controlled by Russian businessman Sergei Maximim from 1995. However, as of 2011, the largest shareholder through the Cypriot company Quickcom Limited (the main shareholder) was Ukrainian entrepreneur Oleg Bakhmatyuk, holding a stake of 86.778%. The position of Chairman of the Supervisory Board was held by Natalia Vasilyuk, and the position of Chairman of the Board – Denis Maltsev.

**Financial Performance**
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As of January 1, 2014, the bank ranked 21st in terms of assets. It had a sales network of more than 140 branches and branches throughout Ukraine, employing over 2 thousand employees.

**Liquidation**
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On November 20, 2014, the National Bank of Ukraine declared VAB Bank insolvent and introduced temporary administration into it through the FGVFL (Financial Guarantee Fund for Depositors). The next day, on November 21, 2014, the National Bank of Ukraine decided to revoke the banking license and liquidate the bank. As a result, the Deposit Guarantee Fund took over the responsibility of paying off the clients.

**Timeline**
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* July 2, 1992: VAB Bank was founded in Kyiv.
* 1995: Sergei Maximim gained control of the bank.
* October 2009: The bank encountered a need for refinancing and obtained it from the National Bank of Ukraine.
* 2011: Oleg Bakhmatyuk became the largest shareholder through Quickcom Limited, holding 86.778% stake.
* November 20, 2014: VAB Bank was declared insolvent by the National Bank of Ukraine.
* November 21, 2014: The banking license was revoked, and the bank was liquidated.

Note: Dates mentioned in both sources have been verified for consistency.