History

2015

December 2015. VS Bank was authorized by the Pension Fund to open accounts for payment of pensions and social allowances.

September 2015. VS Bank PJSC became a winner of the Ukrainian rating "Conscientious taxpayers - 2014". In the field of finance, banking and insurance activities VS Bank PJSC was awarded as a well deserved winner of the Ukrainian rating "Conscientious taxpayers - 2014".

August 2015. Credit and deposit rating of VS Bank was confirmed. Independent rating agency Credit-Rating renew credit and deposit rating of VS Bank PJSC on the basis of results of the first half of 2015 and 2013-2014. The Bank’s deposit security rating was confirmed on the level of “5” (the highest rating). Long-term credit rating of VS Bank PJSC was confirmed on the level of uaA+, rating outlook was stable l deserved winner of the Ukrainian rating "Conscientious taxpayers - 2014".

April 2015. VS Bank PJSC became a winner of the Ukrainian rating "Conscientious taxpayers - 2014" for the second time. In the field of finance, banking and insurance activities VS Bank PJSC, for the second time, was awarded as a well deserved winner of the regional round of the Ukrainian rating "Conscientious taxpayers - 2014".

April 2015. Credit and deposit rating of the Bank was confirmed. Independent rating agency Credit-Rating renew credit and deposit rating of VS Bank PJSC on the basis of results of 2014. The Bank’s deposit security rating was confirmed on the level of “5” (the highest rating). Long-term credit rating of VS Bank PJSC was confirmed on the level of uaA+, rating outlook was stable .

January 2015. New money transfer system Welsend was launched in VS Bank PJSC, becoming the eighth money transfer system VS Bank offers. 

2014

July of 2014. Deposit rating of VS Bank PJSC was renewed. Rating agency Credit-Rating announced the results of reviewing reliability ratings of bank deposits, assigned earlier to Ukrainian banks. Ratings of 18 banks were confirmed on the previous level. Rating of VS Bank PJSC deposits security was confirmed on level “5” (the highest security).

June 2014. On the occasion of International Children's Day of PJSC "VS Bank" participated in charity events. In particular, in the Lviv, Ivano-Frankivsk and Zakarpattia regions bank employees visited six child centers for orphans and children with special needs. 

March 2014. Credit and deposit rating of the Bank was confirmed. Independent credit rating agency Credit-Rating renew credit and deposit rating of VS Bank PJSC on the basis of results of 2013. The Bank’s deposits reliability rating was confirmed on the level of “5” (the highest rating). Long-term credit rating of VS Bank PJSC was confirmed on the level of uaA+, rating outlook was stable.

January 2014. Security of deposits at VS Bank PJSC is on the level “good” according to the rating scale of rating agency Standard Rating. The authorized rating agency Standard-Rating (Ukraine) acknowledged reliability of VOLKSBANK PJSC/VS Bank PJSC on the level “good” ua.2 (pi) according to the rating agency Standard-Rating (Ukraine). These are the data of public examination “Bank deposits reliability rating” based on the results of 9 months in 2013.

2013

In March 2013, the “Credit Rating”Independent Rating Agency announced the upgrade of the long-term credit rating of PJSC “VOLKSBANK” up to the level of uaA +. The rating outlook is stable.  The agency also re-confirmed the Bank deposit security rating at the level of “5” (highest security.)

In May 2013, VOLKSBANK won the regional tour of the nationwide rating “Good-Faith Tax Payers – 2012.”

To increase efficiency, the Bank branch network was reorganized in July 2013, whereby 10 outlets were cut down, however with no impact on either the Bank market standing, or the customer base, or the key performance indicators.

In August 2013, PJSC “VS Bank” won a tender for crediting of the “Lviv Railway”Public Territory Industry Association.

On the occasion of the 22nd anniversary since the Bank’s incorporation date, VS Bank invited current and prospective clients to the Doors Open Day that took place on 28 September 2013 at bank offices in Lviv city. 

The Chairperson of the PJSC “VOLKSBANK” Managing Board Iryna Pokhodzyayeva was awarded a prize in the nomination “Best TOP Managers of Regional Banks.” The “Kontrakty”Weekly Digest, Independent Association of Ukrainian Banks, “Credit-Rating”Rating Agency, “Aval-Brok”company, Dragon Capital, SP Advisors chose the best TOP managers of the Ukrainian banking market in six nominations.

On 16 December 2013, the Bank changed its corporate name to Public Joint-Stock Company “VS Bank”.

2012

On 15 February 2012, Sberbank of Russia closed on the deal to buy 100% of shares of Volksbank International AG (VBI).

In March 2012, the Chairman of the VOLKSBANK PJSC Managing Board Iryna Pokhodzyayeva was ranked 5th best in “The Most Successful Business Lady of Ukraine’ poll ran by the Delo.ua portal.

In April 2012, VOLKSBANK migrated to the single card account system iB2.

On 25 June 2012, the Bank’s Managing Board underwent a change in its membership, whereby its number was increased to five (5) members.

In September 2012, VOLKSBANK PJSC scored the highest grade in the bank deposits security rating at the level of “5”, and was rated at the level uaA on the national scale in the long-term credit rating, the rating forecast being “stable”.

In October 2012, VOLKSBANK PJSC opened the first VIPServiceCenter in Lviv city. VOLKSBANK presented a brand new quality service for the Bank’s VIP clients and customers, that is servicing at specially dedicated VIP centers designed for negotiations and offering tailor-made high-end products.

2011

In May 2011, VOLKSBANK PJSC held a number of charitable philanthropy events under the “Respecting the Client, Caring for People” motto, which events the Bank implemented together with its corporate customers on the occasion of the 20th anniversary of doing business in the Ukrainian marketplace.

In July 2011, the VOLKSBANK PJSC’s Charter was amended as follows: “The Bank’s authorized capital shall constitute four hundred and twenty million Ukrainian hryvnias (UAH 420,000,000), which shall be divided into eight hundred and forty million (840,000,000) of ordinary registered shares with a par value of fifty (50) kopecks each, issued in book-entry form.”

On 9 September 2011, Sberbank of Russia informed about the acquisition of 100% interest in Volksbank International. Volksbank International AG (VBI), headquartered in Vienna, Austria, who was the majority shareholder of Volksbank Ukraine, got a new owner.  

On 5 October 2011, the first reorganized branch of VOLKSBANK PJSC in Vinnytsya city commenced operation at 6 Pirohova Street.

On 7 October, Volksbank celebrated its 20th anniversary since the day it was incorporated.

In 2011, VOLKSBANK became the 27th partner member of the ATMoSfera joint ATM network totaling 3,820 ATMs stationed nationwide in Ukraine.

2010

The Bank adopted yet another, the 12th in succession, international system of instant payment transfers RIA.

The Bank started serving clients in a new money transfer system BLIZKO.

By the resolution of the General Meeting of Shareholders, Armin Huber was appointed the Chairman of the VOLKSBANK PJSC’s Supervisory Board.

VOLKSBANK is the winner of the Face of the City 2010 in the nomination “The World of Money – Banking Lviv”.

VOLKSBANK PJSC hits the TOP 100 Rating of Ukrainian Business Leaders.

Changes in the Bank’s Managing Board. By the resolution of the Supervisory Board of VOLKSBANK PJSC, Iryna Pokhodzyayeva was appointed the Chairman of the Managing Board.

Following the results of a survey conducted by the NSMEP Newsletter magazine, VOLKSBANK PJSC was declared the 2009 bank of the National System of Mass Electronic Payments.

VOLKSBANK integrated, and migrated to, a new core banking system B2.

2009

VOLKSBANK PJSC secured a victory in the Face of the City 2009 contest in the nomination “In the World of Money: Banking Lviv”.

A voluntary clean-up initiative to improve the greenbelt area of Citadel was organized and implemented.

The Celebration for Children social project was implemented.

The Bank’s network made more efficient. Now 56 centrally-managed outlets with 4 regional branches.

A round table discussion was held on foreign exchange and currency policy by the Chairman of VOLKSBANK PJSC’s Managing Board Larysa Zahorodnya, EBA members, foreign and local investors, and representatives of Lviv Region-based banks.

2008

VOLKSBANK OJSC provided assistance to hosting Vienna Days in Lviv, and took part in the project-related events.

On 2 September, the Bank underwent rebranding. Electron Bank OPEN JOINT-STOCK COMPANY changed its corporate name to VOLKSBANK OPEN JOINT-STOCK COMPANY.

A toll-free information line first made available to the Bank’s clients.

Electron Bank expanded to the citied of Rivne, Odesa, Lutsk and Chernivtsi.

An international meeting took place in Lviv city with the participation of the management of Electron Bank OJSC and Volksbank International AG, alongside with representatives of foreign financial institutions.

A new bi-level structure created at the Bank: the Head Office and 65 centrally-managed outlets including 5 regional branches.

2007

The Chairman of Electron Bank’s Managing Board Larysa Zahorodnya was recognized “The Most Talented Businessperson of Lviv-2007” for the excellent skills she exhibited in managing the Bank which successfully pulled an investment project off and managed to engage a high-profile foreign investor, Volksbank International AG (VBI).

Six outlets of Electron Bank were opened in Lviv City, as well as in the towns of Stryi, Mostyska, Sambir, Kamyanka-Buzka, Ternopil, Dolyna in Ivano-Frankivsk Region, Zolochiv and Mukachevo.

The Lider payment transfer system introduced.

Volksbank International AG (Austria) became the owner of more than 98% of the shares of Electron Bank OJSC, which at that time was operating successfully in the banking services market and was considered to be one of the best banks in the Western Ukraine.

2006

The first in Ukraine Center of International Transfers was up and running.

The 14th issue of the Bank’s stock.

2005

Electron Bank partnered with and joined the international payment systems of WesternUnion, PrivatMoney, Migom, UniStream.

The Bank reshaped its organizational structure. The Departments for private consumers, corporate customers, and VIP clients were created. To solve ongoing tasks more expeditiously, and to increase the labor efficiency, the Legal Support Division and Treasury, along with the Branch Support Department, were created.

The Bank’s assets increased to UAH 514 million; according to the National Bank of Ukraine’s classification, Electron Bank was ranked to the group of mid-size banks.

A branch of the Bank was opened in Kyiv City. The growth turned Electron Bank from a regional, Lviv bank, into a nationwide one.

2004

Electron Bank was awarded a diploma of the National Contest “Your Share is Your Capital” for the second place in the nomination “Preparation of the best periodic information among financial institutions for 2003.”
A new bank software platform was adopted, which allowed an increase in the volumes of consumer services provided and acceleration in the completion of transactions.
A year of rapid growth for Electron Bank: the number of branches doubled; 13 outlets opened in the cities of Lviv, Berehovo, Uzhgorod, Vynohradiv, Ivank-Frankivsk and Kolomyia.

2003

Two Electron Bank branches were opened in the cities Lviv and Ivano-Frankivsk.
The 13th issue of the Bank’s stock in order to build up the authorized capital to UAH 40 million.
Electron Bank became a member of the SWIFT international interbank system.

2002

The 12th issue of the Bank’s stock.
The SBON digital banking platform was launched.

2001

Six outlets of the Bank were opened, in particular in the towns of Svalyava and Irshava of Zakarpattya Region, among others.
A mobile banking system introduced.

2000

The Electron Bank’s website launched.
New branches of the Bank opened in Lviv City.

1999

The 10th issue of the Bank’s stock.
Electron Bank wins the contest organized by the State Property Fund of Ukraine for the provision of custody services to regional departments of the State Property Fund in the regions of Zakarpattya, Lviv and Ivano-Frankivsk.

1998

The 9th issue of the Bank’s stock.
The Bank’s branch network in Lviv City expanded.
New premises purchased for the Zakarpattya branch.

1997

An outlet opened in Nadvirna town, Ivano-Frankivsk Region.
Electron Bank was one of the first in Ukraine to switch to operations based on the International Financial Reporting Standards (IFRS).
A Canadian company Ukraine Enterprise Corporation became a shareholder of Electron Bank with a stake of 20.1 per cent in the stock.

1996

A branch opened in Ivano-Frankivsk City.
The 8th issue of the Bank’s stock.
The first branch opened at the Lviv Jewelry Plant.

1995

The 7th issue of the Bank’s stock.
The Credit Department created together with and Asset and Liability Management Division.
Electron Bank received permission to make transactions involving securities.

1994

The Bank is now completely computerized.
The 6th issue of the Bank’s stock.
The Lviv branch of Electron Bank opened.

1993

Electron Bank becomes a co-founder of the Ukrainian Interbank Currency Exchange.
The 5th issue of the Bank’s stock.
The Bank’s organizational framework improved; divisions organized.
Electron Bank reorganized into an open joint-stock company.
Electron Bank was the first one in the Western Ukraine to imbed and offer online banking, a system of remote client servicing.

1992

Cooperation with Barclay-Bank (U.K.) in terms of advanced training for the Electron Bank’s staff.
Three stock issues completed.
The Bank’s first branch in Mukachevo city opened.
Electron Bank received a general license to conduct transactions in foreign currencies.

1991

On October 10, the National Bank of Ukraine registered Electron Bank. Registration number 25, authorized stock of 40 million karbovanets.
The General Meeting of Shareholders resolves to establish Electron Bank, Close Joint-Stock Company.
A department for servicing Electron Group companies organized at the Lviv Administration of Industrial and Construction Bank of USSR.

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