News

 

Varaždin, 11^th October 2007 - Share of Vaba bank Inc. Varaždin has been listed today in the quotation of public joint stock companies of Zagreb Stock Exchange, making the business activities of the Bank even more transparent and attainable to the investor and general public.

Vaba bank Inc. Varaždin has the total of 1.533.550 shares with the nominal value of a single share at HRK 100,00. The share will be traded under the marking BPBA-R-A.

Vaba bank Inc. Varaždin, according to the standing of ownership positions, currently has 480 shareholders, and the leading 7 shareholders of Vaba Bank hold together a portion of approximately 78% of the Bank's equity capital. Vaba bank employees also participate in the ownership structure of the Bank with 2,5%.

The largest single shareholder of the Bank is FIMA Validus, with a share of 33,75%, followed by the investment fund Balkan Financial Sector Equity Fund with 19,04%, FIMA Grupa Inc. with 10,98%, Nikomat Ltd. with 5%, Varazdin County Guarantee Agency with 4,95%, City of Varaždin with 2,51% and Croatia insurance with 2,41%.

„With today's listing in the quotation of public joint stock companies Vaba bank Inc. has confirmed its quality position, built during the last several years. Based on the results achieved by now, I am convinced that we will soon reach our next goal - listing in the first quotation of Zagreb Stock Exchange, and with this further improve the Croatian capital market, our Bank's position and meet the expectations of our shareholders", were the words of CEO of Vaba bank Igor Čičak at the time of this occasion.

 

In Pula, on a new location Istarska 7, a Vaba bank Inc. Varaždin branch has been formally opened. The working hours of the branch are from 8 A.M. to 4 P.M., and on Saturdays from 8 A.M. to 12 P.M.

 

We are building a quality brand

This year Vaba bank Inc. Varaždin is wealthier for another acknowledgment of both the professional and general public.

Some might say that we are a young and small bank, present on the Croatian banking market for a short period of time, but the achieved recognition on the local and national level states quite the opposite.

All of us can be very much proud of ourselves, our work in Vaba bank Inc., along with all those years that we spent as individuals somewhere else, gathering knowledge and experience that we use today to create the successful story of Vaba bank Inc.

Precisely these knowledges and experiences have built our recognizability, which is now awarded by 60 members of the committee Superbrands Croatia - leading Croatian journalists, business and marketing experts.
Superbrands expert committee for Croatia has voted the best market brands in Croatia, and this year Vaba bank Inc. has found its place among the thirty financial institutions, i.e. ten banks, that have demonstrated quality and excellence, as well as brand recognition and consumer popularity.

The decision of the expert committee of the Superbrands status awarding was this time confirmed by the general public, consumers and clients, that voted through SMS messages, telephone calls and by using web or e-mail survey.

Superbrands is an award and promotional program that is based on the publishing of an annual branding book issue. Choice criterias do not significantly differ from one country to another, but it is the mission of all Superbrands programs to recognize those market brands that achieve more than others on the market. 

International organization Superbrands is the only global and independent authority in the branding area. It is present in 73 countries worldwide, and in March 2006 it started operating in Croatia. Superbrands cooperates with most agencies and analyses the achievements of certain brands on all major geographical markets, and in this way recognizes those that achieve more than their competition, and awards them with an independent and reknown Superbrands status.

In this way we have confirmed that we are going in the right direction through common effort and work. We are building a recognizable Croatian brand...

All the Bank's employees become shareholders

Zagreb, 29^th August 2007 – In Financial centre Zagreb Vaba bank Inc. Varaždin presented to the Croatian general public, the just finished process of capital increase through which Vaba bank Inc. will improve and strenghten additionaly its position on the Croatian financial market.

By the Bank's capital increase, PIC is increased for over HRK 91 million reaching HRK 153 million. At the same time, regulatory capital exceeds HRK 180 million.
Vaba bank Inc. Varaždin currently has 480 shareholders, and the leading seven shareholders of Vaba bank Inc. hold together a portion of 78% of the PIC. Bank's employees also participate in the Bank's ownership structure with approximately 2,5%.
The largest single shareholder of the Bank is FIMA Validus with 33,75%, followed by the investment fund Balkan Financial Sector Equity Fund with 19,04%, FIMA Grupa Inc. with 10,98%, Nikomat Ltd. with 5%, Guarantee Agency of Varaždin County with 4,95%, the City of Varaždin with 2,51% and Croatia insurance with 2,41%

In line with the Bank's business policy, the quality and potential of the employees of Vaba bank Inc. was one of the deciding factors of shareholders at the time of this capital increase. Positive response of all Bank's employees to the participation in the ownership structure has confirmed once again the potential that the Bank posesses and continues to build. Guarantee Agency of Varaždin County, the City of Varaždin and the investment fund Balkan Financial Sector Equity Fund, have confirmed, through their entry into the ownership structure, that economy growth is achieved by investing into financial industry, with an unquestionable role of the banks as generators of region's economic growth.

Balance Sheet value of Vaba bank Inc. Varaždin on the 31^st December 2007 exceeded HRK 1,1 billion, confirming the status of this bank as one of the fastest growing in the Republic of Croatia.
According to the Balance Sheet value criteria, the Bank is considered to be a medium sized bank .

Balance Sheet value of Vaba bank Inc. Varaždin on the 31^st December 2007 exceeded HRK 1,1 billion, confirming the status of this bank as one of the fastest growing in the Republic of Croatia.
According to the Balance Sheet value criteria, the Bank is considered to be a medium sized bank and is 100% owned by Croatian legal and physical entities.
In the last year Vaba bank Inc. Varaždin was in the first place regarding Assets growth, putting it among the most successful Croatian banks. Undoubtedly the most significant project in the Bank's retail business activities during 2006 was the introduction of Maestro chip card, which enables the Bank's clients to make cash withdrawals on more than 700 ATMs inside the MBU network. Also, in June the Bank has launched private bankers project, that is expected to have its full effect by the end of 2007. By choosing staff of highest quality, as well as through aimed ang programmed education, the quality of service would be improved, and the Bank's products would become available to clients in those areas where the Bank is not present through its business network.

From its foundation to this day, Vaba bank Inc. Varaždin accomplished a significanr growth and has developed a wide network of branches and financial centres. Bank does business through four financial centres located in Varaždin, Zagreb, Pula and Slavonski Brod, and through 10 branches located in Varaždin, Čakovec, Ludbreg, Krapina, Pula, Zagreb, Sisak, Slavonski Brod and Nova Gradiška, and has a total of 153 employees.

From this day, in Vaba bank Inc. Varaždin, Contact centre has started its work, making the Bank's services even more available for the clients, but also improving the efficiency and swiftness of business activities.

All the information on the business activities of Vaba bank Inc., with the possibility of giving complaints, compliments and remarks, are now available to clients and any other interested persons at a toll-free telephone number 0800 8222 or fay number 042 659-551, i.e by e-mail 0800@vaba.hr.

The Contact centre's working hours are from Monday to Friday from 8 A.M. to 4 P.M.

Head of the Contact centre is Silva Bistrović. She arrived to Vaba bank Inc. Varaždin from Međimurska bank Inc. Čakovec, where she spent the most of her working life, and had the position of Head of phone service and telephone banking services  from 1998.

The Contact centre also employs two agents, Marina Sambolec, that was until now an agent in the Contact centre of Neckermann, and Vedran Milek that arrived to Vaba bank Inc. from branch Daruvar of Slatinska bank Inc.

 

In the Financial centre Zagreb of Vaba bank INc. Varaždin an Agreement on business cooperation has been formally signed between Vaba bank Inc. and the Croatian Agency for Small Entrepreneurship (HAMAG), based on which HAMAG will issue Guarantees for entrepreneural loans to small and medium entrepreneurs, clients of Vaba bank Inc. Varaždin, that posess quality projects, but unsufficient insurance instruments for loan approval.

The Agreement was signed by CEO of Vaba bank Inc. Varaždin, Igor Čičak, and the CEO of HAMAG, Tomislav Kovačević
According to the terms of the Agreement, size of the guarantee will vary, depending on the program, to the maximum amount of 80% of the loan principal. Entrepreneurs are provided with five guarantee programs: New entrepreneur, Agriculture, Growth and development, Areas of special government interest and Working capital. It is anticipated that the signed Agreement will advance significantly the development of small and medium entrepreneurship, and that it will contribute to the increase of its portion in the entire economy of Republic of Croatia.
Igor Čičak, CEO of Vaba bank Inc. Varaždin stated at this occasion: "I am convinced that through the today signed Agreement on business cooperation, we would offer small and medium entrepreneurs of our region precisely what is so often the missing link, being financial support in situations when there is really a good idea and a quality project, but the entrepreneurs do not posess initially sufficient funds, i.e. quality insurance instruments, that would meet the classic demands of banks, when applying for a loan."

"Due to the strong commitment of the Croatian Government to the development of entrepreneurship, in the last few years we have a significant growth and development of entrepreneural activity. Through cooperation with business banks, we strenghten our presence on the financial market. By this Agreement we will enable the clients of Vaba bank Inc. Varaždin to get involved in our guarantee programs, making it possible for us to enable an even more dynamical development of entrepreneurship", pointed out CEO of HAMAG, Tomislav Kovačević. 

President of Republic Croatia, Mr. Stjepan Mesić, opened today in Varaždin, at the address Aleja kralja Zvonimira 1, a new Head office of Vaba bank Inc., that enables the further advancement of services to clients and creating more quality work conditions for the employees of the Bank.

The opening was also attended by County-prefect of Varaždin County, Radimir Čačić, Mayor of City of Varaždin, Ivan Čehok, CEO of FIMA and President of the Supervisory Board of the Bank Milan Horvat, CEO of Vaba bank Inc. Igor Čičak, as well as by many entrepreneurs and representatives of largest Croatian companies, clients of Vaba bank Inc., media and many distinguished guests.

From its foundation to this day Vaba bank Inc. Varaždin has accomplished significant growth and has developed a wide network of branches and financial centres. The Bank today does business through three financial centres in Varaždin, Zagreb and Slavonski Brod and 11 branches located in Varaždin, Čakovec, Ludbreg, Krapina, Pula, Zagreb, Sisak, Slavonski Brod and Nova Gradiška. We have 110 employees and the total Balance Shhet value of over HRK 800 million. According to the Balance sheet size criteria, the Bank is listed among medium-sized banks and is 100% owned by Croatian legal and physical entities.

We offer products of personal, business and investment banking. Also, as a community bank, we provide financial services to local government and participate in various development projects in the region. One of the more significant project is the Preferential student loan that is granted by Vaba bank based on the contract on cooperation signed with Varaždin County regarding the project "Student".

In the last year Vaba bank Inc. Varaždin was in the first place regarding Assets growth, putting it among the most successful Croatian banks. Undoubtedly the most significant project in the Bank's retail business activities during 2006 was the introduction of Maestro chip card, which enables the Bank's clients to make cash withdrawals on more than 700 ATMs inside the MBU network. Also, in June the Bank has launched private bankers project, that is expected to have its full effect by the end of 2007. By choosing staff of highest quality, as well as through aimed ang programmed education, the quality of service would be improved, and the Bank's products would become available to clients in those areas where the Bank is not present through its business network.

In 2007 we plan to have a growth of Assets over HRK 900 million. We also plan to open four to five new branches on the area of Varaždin and Međimurska County, as well as one new branch in Koprivnica, with a goal to stabilize the position of Vaba bank on the local and regional market additionally.

Testing and putting into production of the service of electronic banking (Internet banking for citizens) is in its final stage, while SMS banking would become a part of Bank's everyday business by the end of this year.

During 2007 Vaba bank Inc. will complete its business by introducing a Call centre, enabling its clients a secure, swift and cheap performance of financial business thorugh phone banking.