Annual Report - VÚB banka

VUB’s 2007 Commercial Performance
VUB made a signifi cant progress in 2007. In addition
to market share growth in the retail and corporate
segments, the Bank was primarily focused
on acquisition of B.O.F, a leasing company, which
was integrated in the VUB Group at the end of the
year. Constantly growing volumes in the mortgage
and consumer fi nance have proven the Bank’s
dominant position in the services, products and
consultancies associated with the property fi nancing
offered to clients. Furthermore, the corporate
fi nancing recorded remarkable step forward in the
both segments: Large Clients and SMEs. Bank’s
corporate governance puts the emphasis on enhancing
the quality client services and their trust in
the Bank. As a result, the positive development in
clients’ deposits was recorded. Furthermore, the
pro-client focus is also obvious in the projects that
are currently running in the Bank. Purpose of these
projects is to ensure continuous improvement in client’s
services. These improvements involve a wide
range of activities, such as the process enhancements,
innovations in core products, redesign of
the branch network consisting of 209 retail and 33
corporate branches and 11 mortgages centers, and
development of alternative distribution channels.
Within the “2007 Gold Coin” competition, VUB won
several awards in different categories. This recognition
of the fi nancial experts indicates that the
Bank has been successful in this fi eld.
Deposits:
The bank deposits at the end 2007 amounted to
SKK 205 billion, thus representing a strong increase
by 15% compared to the previous year. Growth
in the term deposits and current accounts represented
the core contributors to a steep increase in
the retail clients’ deposits. With the Flexi account,
a modifi ed and unique product in place (option
involving a 5%-interest on funds), the current accounts
of individuals increased by amazing 21%.
The Bank’s subsidiary - VÚB Asset Management
- managing assets in the amount of SKK 30 billion
recorded the identical growth pace. The corporate
clients have been to a greater extent focused on
term placements, while the current accounts were
still in their spotlight. Total deposits managed by
the Corporate Banking Division rose on year-to-year
basis by 9%.
Electronic banking :
In 2007, Všeobecná úverová banka was continuously
improving its nonstop banking, primarily the
services such as Kontakt, Internet banking, Internet
banking Plus, Mobil banking, Business banking
and Multicash. VUB was awarded a Sliver Coin for
2007 in the e-banking category.
Compared to 2006, number of clients using the
Internet banking and Mobile banking rose by 10%
and 11% respectively. The clients made 40% more
transactions through Internet banking than in the
previous year and the Call Center operators took 1
million telephone requests.
Last year, the Bank made several important changes
in its e-banking, and the launch of a new security
mode was one of the crucial ones. The Bank
has implemented the new security system with
view to enhance trust of the clients in the e-banking
services. Furthermore, the back-up questions were
replaced by a new security element – Grid card and
a client has opportunity to set the daily limit for
security elements according to individual needs.
Apart from adding new services for mutual funds
business in the existing Internet banking services,
transaction history was extended to 24 months for
the current/term accounts and pass books.
Banking cards
In 2007, VUB issued as its novelty product a non-
-embossed payment card Maestro DOBRÝ ANJEL
(Good Angel), This card has a unique design and
card represents a non-profi t organization DOBRÝ
ANJEL. The mission of this organization is to provide
fi nancial aid in form of regular monthly contributions
for the people with oncological diseases and
their families. The feature that makes this card so
special is Bank’s contribution for the non-profi t organization
DOBRÝ ANJEL. This contribution, representing
1% of the non-cash payments made with
the card, VUB pays for its clients into the scheme
Dobry Anjel from its own funds. In addition, eCard
VUB – a service for internet merchants, in which
the 3D Secure technology is used, represents a revolutionary
novelty in the services. For the time being,
this technology represents the highest security
standard that is available for the card acceptance
through internet.
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VUB, a bank of Intesa Sanpaolo group