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Finance

Wednesday, December 8

The state-owned banks received 7.6% more profit. In the third quarter of this year, state-owned banks earned UAH 11.6 bln ($426 mln), 7.6% more than in the previous quarter. 82.9% (UAH 9.6 bln) was attributed to the profit of PrivatBank. As the Min...

Tuesday, December 7

Invest in international companies through Sense SuperApp. Alfa-Bank initiated the access of shares to circulation on the Ukrainian market and provided customers with a trading tool in the digital bank Sense SuperApp. This will allow Alfa-Bank’s client...

Monday, December 6

PrivatBank and Oschadbank to approve plans for their privatization. The two state-owned banks must adopt “roadmaps” for partial or full privatization in cooperation with the Ministry of Finance. To reduce the state’s share in banks to 25%, PrivatBank...

The National Bank has registered 57 collection companies, reported press service of NBU. As of November 2, National Bank continues to register collection companies. Only companies with an impeccable business reputation, professionally suitable managers, and ...

Ukroboronprom’s net income increased by 6%. The increase came from the sale of goods, works, and services for the three quarters of 2021, which exceeded UAH 26 bln ($962 mln). The figure was 6% more than in the same period last year, reported ...

In December, the World Bank will consider allocating two tranches of up to $500 mln to Ukraine. The World Bank will consider granting Ukraine a second loan of €300 mln for development policy in the field of economic development, reported Interfax. According to the Minister of Finance, Serhiy Mar...

Friday, December 3

The Budget Committee approved the draft state budget-2022 for the second reading. Compared to the first reading, budget revenues increased by UAH 54.7 bln to UAH 1.31 trillion. Tax revenues increased by UAH 64 bln (5.8%). However, non-tax revenues decreased ...

The general fund of the state budget of Ukraine for January-November 2021 was executed with a deficit of UAH 57.4 bln ($2.12 bln) , when projected for the reporting period in the amount of UAH 175.7 bln ($6.48 bln), the Ministry of Finance said. The Ministry of Finance pointed out that in 11 months, the general fund received UAH...

The state budget deficit to grow to 3-3.5% of GDP in December. The head of the Ministry of Finance of Ukraine, Sergei Marchenko, expects a significant increase in the state budget deficit in December to 3-3.5% of GDP. For 11 months of 2021, the actual budget defi...

Ukraine has appealed to the EU for a new package of financial support. Ukraine asks the European Union to provide additional support to ensure stable public funding over the next few years, reported Bloomberg. At the same time, the spokesman of the European Commission as...

Twelve banks will receive portfolio state guarantees of UAH 8.1 billion ($300 mln). The Ministry of Finance has prepared a draft resolution of the Cabinet of Ministers on providing state guarantees on a portfolio basis in 2021. Furthermore, the Law on the State Budget for the curren...

Thursday, December 2

In his address to the Parliament of Ukraine, President Volodymyr Zelensky also announced a program to issue loans at 5%. “We will launch the Ukrainian Dream program, under which every citizen of our state who pays taxes will be able to get a loan at a rate of 5% in hryvnia,” said the President in his annual ...

The National Bank of Ukraine has downgraded the forecast for Ukraine’s economic growth in 2021 to 3%. “This forecast is slightly lower than previously predicted due to several reasons. Poor economic results of the first half of the year, which have already been recorded. Quarantine restrictions. The h...

The Ministry of Finance has sold bonds valued at UAH 12.7 bln. The results of the placement of domestic government bonds (IGLBs) on November 30, 2021, raised UAH 12,74 bln ($472 mln) for the state budget.

Metinvest has set up a company to manage Ukrainian coal assets. Metinvest Pokrovskugol will be managing the operational and administrative changes at the Pokrovsky Coal Group (PUG). It is specified that the new company will coordinate all divisions of coal produc...

Wednesday, December 1

Diia.Bisiness has become the marketplace for financial products and an impact investment platform. Diia.Bisiness portal collects all information about financial opportunities and programs available to entrepreneurs in Ukraine. Through the site, you can learn about the program and directly contact ...

Increase in the Tax Burden on Iron Ore Mining. The Ukraine Parliament adopted Tax law №5600 which increases the tax burden on iron ore mining. Amendment №97, which sought to reduce taxes, was rejected in the VR despite previous support from the co...

Another Ukrainian stock exchange received a commodity license. The National Commission on Securities and Stock Market has decided to issue a license to the UICE (“Ukrainian Interbank Currency Exchange”) to conduct activities to organize trade in prod...

Tuesday, November 30

Last week, Ukraine issued affordable loans valued at UAH 1.27 bln. The State Program “Affordable Loans 5-7-9%”, authorized banks to issue 456 loans totaling UAH 1.27 bln ($47 mln), announced the Ministry of Finance. Entrepreneurs received UAH 8.8 bln for ...

Monday, November 29

The National Bank of Ukraine (NBU) announces an increase in financial literacy among Ukrainians. The level of financial literacy of Ukrainians has grown significantly in three years: from 11.6 points in 2018 to 12.3 points this year said the Chairman of the National Bank, Kyrylo Shevchenko. This...

Ukraine will end 2021 by recording the highest dollar GDP since independence. The Minister of Economy, Yulia Sviridenko, announced that the economy will reach its highest rate of GDP in US dollars ($195 bln) by the end of 2021. “Next year, we plan to reach a high growth r...

Friday, November 26

Ukraine has pledged to agree to 12 conditions to receive the next IMF tranche. These structural beacons include: to approve the budget for 2022 with a deficit target of 3.5% of GDP; to abolish concessions in the criteria for state representatives in the management of state-owned...

The Ukraine Prime Minister and EBRD delegation discussed the creation of stock market infrastructure in Ukraine. Denys Shmyhal and representatives of the EBRD have discussed the creation of a quality stock market infrastructure in Ukraine, the strengthening of the banking sector and the implementation reported ...

Thursday, November 25

IMF downgrades Ukraine’s GDP growth estimate to 3.2% from 3.5% in the October forecast. However, the IMF has unchanged Ukraine’s economic growth expectations in 2022 at 3.6%, and in 2023 3.4%.

The Guarantee Fund has received UAH 630 bln ($23.6 bln) in private investments. The total amount of deposits of individuals at the beginning of November 2021 includes deposits in national currency, UAH 385.84 bln ($14.4 bln), and deposits in foreign currency valued at UAH 243.52 ...

The “Minfin” and Dragon Capital launched a mobile investment application Multi Invest. Using the application will make it possible to invest in shares of foreign companies, exchange-traded funds (ETF), cryptocurrency, and domestic government bonds. “The idea of Multi Invest is to make ...

Wednesday, November 24

The IMF has agreed to allocate $700 million to Ukraine. Following the first revision of the stand-by program (SBA), the International Monetary Fund agreed to provide Ukraine with a loan tranche of about $700 mln, according to the fund’s press service...

DTEK Energy has reduced its net losses 10-fold since January 2021 . It earned UAH 1.965 bln ($74 mln) in net losses in the third quarter of this year, which is almost 10 times less than the loss in the same period last year, UAH 19.12 bln ($721 mln). At the same tim...

The state Guaranteed Buyer has requested a debt settlement of UAH 4 bln ($150 mln) from Energoatom. The Acting Director, Vadym Ulyda reached out to the Director of Energoatom, Petro Kotin, to hold talks and settle disputes. The Guaranteed Buyer says it has taken all neces...

Ukraine is implementing 8 EBRD projects worth € 1.68 bln, announced the finance minister, Serhiy Marchenko, at a meeting with the newly appointed EBRD Vice President for Policy and Partnership, Mark Bowman. During the meeting, the issues of the current stat...

The Ministry of Finance has sold UAH 4.4 bln of bonds. On November 23, the Ministry of Finance raised UAH 4.4 bln ($166 mln) in equivalent at the auction for the placement of domestic government bonds (IGLBs), reported minfin.ua The weighted average yiel...

Banks in Ukraine have increased their profits by 47%. In January-October 2021, banks earned UAH 58.4 bln ($2.19 bln) in net profit against UAH 39.8 bln ($1.5 bln) in the same period last year. Banks’ revenues for 10 months of 2021 increased by 4% y...

Ukreximbank sells loan claims for grain terminal in Ochakiv port. The state-owned bank has put the right of claim for sale under a loan agreement secured by a mortgage on a grain terminal at the Ochakiv seaport. The starting price is UAH 36.7 mln ($1.4 mln), and the...

Tuesday, November 23

The Ukrainian budget will lose up to UAH 150 bln due to the payment of salaries in the grey sector. The Institute of Social and Economic Transformation research said that in 2020, shadow salaries caused enormous losses to the budget of UAH 110-150 bln. ($5.7 bln). In addition, the institute said th...

Sberbank received permission to change its name. The subsidiary of the Russian Sberbank was allowed to change its name in Ukraine until August 2022. It is noted that the reason for this decision was the need for the subsidiary of Sberbank to take se...

Monday, November 22

The budget revenue plan for the first three quarters of 2021 was exceeded by UAH 29 bln – announced Valery Patskan. “The reason of the surplus was due to over fulfillment of the plan of revenues from VAT, excise duty on goods imported into Ukraine and rent for subsoil use”, said Patskan....

In Ukraine, the level of non-cash payments increased to 9 out of 10 transactions – announced the NBU. “The share of non-cash payments in Ukraine has been constantly growing over the last two years. At present, the volume of non-cash payments is 61%, and the number of transactions ...

Friday, November 19

The leading agricultural producer in Ukraine, Myronivsky Hliboproduct (MHP) has reported profits of $377 mln in 2021. MHP which produces chicken meat for local and external markets is the leader in poultry production in Ukraine. It recently presented the financial results of its activities for the nine months ended S...

As of 1 December 2021, the NBU will increase the limits on banks’ open long and short FX positions from 10% to 15% of their regulatory capital. The NBU projects that the higher limits will expand by about $400 mln the banks’ ability to conduct interbank transactions within their FX positions. This will contribute to the banks’ gre...

Depositors of insolvent banks received almost UAH 50 million in returned funds in October. For 10 months of 2021, the Deposit Guarantee Fund of Individuals paid UAH 816.2 mln ($31 mln) in guaranteed compensation to depositors of insolvent banks, of which UAH 49.8 mln ($1.9 mln) in October ...

Thursday, November 18

The National Bank of Ukraine reacted to the fourth consecutive day of growing demand for the US dollar in the Ukrainian interbank foreign exchange market, by curbing the sale of currency at the rate of UAH 26.55. As a result, the sellers put their quotes below the level of the regulator, as buyers rece...

British neobank Revolut has registered a subsidiary in Ukraine in September 2021. According to the state register of legal entities, the company is called LLC “Revolution Technologies Ukraine”, its beneficiary is Revolut Ltd. In May 2021, Revolut is now actively hiring ...

Wednesday, November 17

The Ministry of Finance raised UAH 8.159 bln ($ 311 mln) in the placement of domestic government bonds. Investors were offered seven issues of securities in the national currency. The weighted average yield of 6-month IGLBs was 10.5%, 1-year – 11.55%, 1.5-year – 11.57%, 2-year – 12.47%...

Mortgage rates in Ukraine fell this year by 1.5%. In September 2021, banks issued 943 mortgage loans worth UAH 812 mln ($31 mln). In total, in the first nine months of the year, banks issued more than 7500 mortgage loans totaling almost UAH 6.1 bln ...

Tuesday, November 16

Ukraine’s real GDP in the third quarter of 2021 grew by 2.4% compared with 5.7 % growth in the third quarter of 2020. The statistic was published by the State Statistics Service on Monday. According to its data, in comparison to the previous quarter (seasonally...

Ukraine- EU cooperation plan with € 2.3 bln investment package. At a meeting with EU Neighborhood and Enlargement Commissioner Oliver Vargei, Ukrainian Foreign Minister Dmytro Kuleba discussed the Eastern Partnership’s economic and investment plan. The plan...

Ukrgasbank announced record profits. For the first ten months of the year, the state-owned bank earned a record profit of UAH 2.7 bln ($103 mln). This financial result is almost four times higher than the profit for the same period in 20...

Monday, November 15

IMF to consider second stand-by tranche for Ukraine on November 22. The IMF Board of Directors plans to approve the results of the first revision of the stand-by program on November 22. In June 2020, the IMF approved a stand-by program for Kyiv with a total volume of...

Last week, the National Bank of Ukraine (NBU) purchased a record $858 mln in currency on the interbank market this year. Almost the entire amount of the purchased cash was the currency funds of the state-owned company NEC Ukrenergo, which placed 5-year Eurobonds under gove...

Monobank’s new card, the cryptocurrency card, is awaiting approval from the NBU. “The has been waiting for approval from the NBU for three months. The launch of shares in Monobank that was scheduled for 2022 has been postponed”, said the co-founder of Monobank, Oleg Gorokhovsky. ...

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