Аbout the bank

Austrian Volksbank International AG became a shareholder of OJSC "Electron Bank". On the 2^nd of September 2008 OJSC "Electron Bank" officially changed its name to OJSC "VOLKSBANK".

Change of the name from Electron Bank to VOLKSBANK is connected with its final integration to Volksbank International AG group (Austria).

History of Volksbank AG (VBAG) began in 1922 with the unification of few regional credit unions. Volksbank AG therefore has a history of partner relationship based on a corporate philosophy of trust.

Today Volksbank AG is in the top five financial concerns of Austria. Volksbank AG plays  traditionally leading role of the Austrian economy partner, financing the activity of many different companies.

In 1991 Volksbank AG created subsidiary organization Volksbank International AG (VBI).

Today Volksbank International AG has a network of approximately 5500 employees serving in 600 branches in 9 countries in Central and Eastern Europe including Roumania, Croatia, Bosnia and Herzegovina, Hungary, Slovakia, Slovenia, Serbia, Czechia and Ukraine.

Indices of VBI activity:

The strategy of VBI is primarily to development of small and middle enterprises, as well as providing retail banking services.

In April of 2007 Volksbank International AG entered Ukraine and became owner of more than 98% of shares of OJSC "Electron Bank" which was the leader in providing banking services to Western Ukraine for 15 years and was considered one of the best regional banks. Attraction of powerful investments from foreign bank enabled Electron Bank to double its main annual indices of activity: assets, capital, credit portfolio and profit.  Since investment bank' network grew from 33 to 65 branches. By the end of 2008 the number of branches will be 100 sales points. During the year new branches have been opened in Lutsk, Rivne, Khmelnytskyy, Odesa. Additionally branches have been opened in Kyiv, Ternopil, Mukachevo, Ivano-Frankivsk - the cities where Bank's regional branches existed already. Main indices of bank' activity:

Foreign investor, Austrian Volksbank International AG is opening new opportunities for the development of the Ukrainian economy and for every citizen of the country. As of 01.09.2008 VBI granted investments totaling in EUR 252 mln. By the end of 2008 the volume of granted investments will amount to EUR 332 mln.

A long organizational period preceded the change from OJSC "Electron Bank" to OJSC "VOLKSBANK". Internal processes of the bank's activity had to be brought in accordance with the standards of VBI group. Some specific changes included changing the bank's organizational structure from three-levels to two-levels (transforming Branches to Regional Branches), the implementation of most modern software and banking technologies, reorganization of a risk management system by taking into consideration principles and requirements of Basel 2 and increasing personnel proficiency level by providing trainings and studying of European experience, etc.

According to the Chairman of the Managing Board of the Bank Larysa Zahorodnya, during 17 years of activity on the market of banking services the Bank has gained significant experience and is ready for innovations. These changes mean not only the name changing, they include way of thinking and approach for clients servicing. The bank is entering the national market not only with a new name, OJSC "VOLKSBANK", but also with new ideas, approaches, original decisions and development strategies.

New name - OJSC "VOLKSBANK" is well known abroad for a long time since Volksbank International is present in 9 countries of Central and Eastern Europe. Translating from German a Volksbank mean "PEOPLE'S BANK" and is associated with openness, availability for everyone, additional opportunities, advantageous offers and only positive emotions. In addition the blue color in our logo signifies safety, trust, creativity, truth, devotion, peace and enables positive feelings and thoughts. Blue color creates good feeling, disposes to positive thoughts and communicates great internal force as well.

Volksbank International AG has significant positive work experience on financial market of Central and Eastern Europe and has brought to Ukraine a number of original and time proven methods as well as innovations which have been effective in the segment of credit and deposit services for private individuals by placing an emphasis on clients servicing comfort. All offers of OJSC "VOLKSBANK" are client oriented."When we create a new product, we always think about clients and if this product be of good use for them. We also try to simplify our clients' life as much as possible" says Member of the of the Managing Board Iryna Pokhodzyayeva.

OJSC "VOLKSBANK's" goal is to grant people the possibility to obtain quick and quality service. The Bank makes emphasize on reliability of keeping funds of its clients. "Our goal is to make our products as well as the entire banking process simple and understandable. We offer individual products with the weighted decisions" says Deputy Chairman of the Managing Board Yuriy Klachanyy ..

OJSC "VOLKSBANK" is a universal bank. Its products range includes mortgage and car loans, deposits for private individuals and services for legal entities. Through the resources of Volksbank Ukrainians are able to get available mortgage loans for of up to 25 years, car loans, loans for business development, to register deposits in reliable and stable European bank and to take advantage of all other banking services: to execute currency exchange, foreign money transfer and to get complex cash-settlement service.

The employees are highly valued in the bank and it allows achieving established goals. The greatest investment of OJSC "VOLKSBANK" is investing in personnel. So doors of the bank are open to specialists from different regions of Ukraine, who want to achieve success and professional growth.

Together we will succeed!