Finance

Monday, March 7

S&P Dow Jones Indices will remove Russian stocks from its standard equity indexes.

S&P Dow Jones Indices will remove Russian stocks from its standard equity indexes. The index provider behind the S&P 500 said that stocks listed or domiciled in Russia would be cut from emerging markets and other indexes before the market opens on Wednesday. MSCI Inc. said Wedn...

The Ministry of Finance plans to conduct the second issue of military bonds.

The Ministry of Finance plans to conduct the second issue of military bonds. The Prime Minister of Ukraine, Denis Shmyhal, stated that the second round of the army IGLB issue is underway. “Anyone ready to lend to Ukraine, our military, our doctors, and critical infrastructure...

Tuesday, March 1

The IMF gives assurance that they will support Ukraine in all possible ways.

The IMF gives assurance that they will support Ukraine in all possible ways. “The International Monetary Fund has assured Ukraine of its support and continues to work closely with the government to help our country in all possible ways,” said the Ukraine Ministry of Finance. ...

Since the beginning of February, the state budget has received UAH 97.4B.

Since the beginning of February, the state budget has received UAH 97.4B. Despite the difficult military conditions, the Ministry of Finance continues to perform its function and fully supports the Armed Forces of Ukraine, reported the press service of the ministry. Accord...

Wednesday, February 23

Britain places sanctions against five Russian banks and three businesspeople.

Britain places sanctions against five Russian banks and three businesspeople. On Tuesday, British Prime Minister Boris Johnson announced the imposition of sanctions against Russia after its recognition of the Donetsk and Luhansk People’s Republics. The sanctions will affe...

The Ministry of Finance raised UAH 3.48B for the state budget at IGLB auctions.

The Ministry of Finance raised UAH 3.48B for the state budget at IGLB auctions. Investors were offered government bonds in hryvnia with a maturity of 3 months, 1 year, 1.5 years, 2 years, and 4 years, and bonds in euros were offered with a maturity of 3 months. The biggest demand...

Tuesday, February 22

The US plans to sever ties with key Russian banks in the event of an invasion of Ukraine.

The US plans to sever ties with key Russian banks in the event of an invasion of Ukraine. President Joe Biden’s administration has prepared an initial package of sanctions against Russia that includes barring US financial institutions from processing transactions for Russian central banks...

The National Bank of Ukraine sold $503M on the interbank foreign exchange market.

The National Bank of Ukraine sold $503M on the interbank foreign exchange market. The NBU sold $503M and purchased $50M on the interbank foreign exchange market last week, according to the NBU. Following foreign exchange interventions, during the week of February 14-18, 2022, the N...

Ukraine’s dollar-denominated Eurobond prices fell again amid

Ukraine’s dollar-denominated Eurobond prices fell again amid the military escalation in the Donbas. Military escalation and prospects for Russia’s independence recognition within the Luhansk and Donetsk regions drove bond prices lower. According to Bloomb...

Ukrposhta launches fund transfers by phone number.

Ukrposhta launches fund transfers by phone number. To make a transfer, customers no longer need the recipient’s card details, they simply enter the phone number linked to the recipient’s card account. Customers may only use a Visa payment...

Monday, February 21

The third tranche from the IMF will come to Ukraine soon.

The third tranche from the IMF will come to Ukraine soon. According to finance minister Serhiy Marchenko, the IMF could allocate a $700M tranche to Ukraine based on the revision of the stand-by program that expires in June, 2022. Currently, Ukraine has ful...

The Ministry of Finance manages to buy out 20% of Ukraine’s GDP warrants in February

The Ministry of Finance manages to buy out 20% of Ukraine’s GDP warrants in February and reduce payments on Eurobonds in September by $100M. “Due to this, Eurobond redemption payments will be $100M less and will amount to $912M in September,” said Finance Minister Serhiy M...

The World Bank is ready to provide $350M to Ukraine and promises additional support.

The World Bank is ready to provide $350M to Ukraine and promises additional support. On Saturday, the World Bank Group said that it was prepared to allocate $350M to Ukraine. The group’s board will consider the issue by the end of March as part of a plan to provide funding to th...

Friday, February 18

The new law should launch a legal market for virtual assets in Ukraine.

The new law should launch a legal market for virtual assets in Ukraine. Foreign and Ukrainian crypto companies can operate legally, and Ukrainians will have convenient and secure access to the global market for virtual assets. Market participants will receive legal protec...

Wednesday, February 16

Ukrainian banks have calmly met the outflow of deposits,

Ukrainian banks have calmly met the outflow of deposits, reported Forbes.ua. Due to the deterioration of the information environment in January, there was a moderate outflow of deposits, up to 5% of the total, out of which one-third can be explained by seas...

The Ministry of Finance sold only UAH 66M in bonds.

The Ministry of Finance sold only UAH 66M in bonds. The Ministry of Finance was able to raise only UAH 66M ($2.36M) at the domestic government bond auction. Investors were offered only two issues of hryvnia IGLBs with a maturity of six months and a yea...

Ukrposhta launched card to card money transfers through your phone.

Ukrposhta launched card to card money transfers through your phone. Using the technologies of the FinTech platform Tranzzo along with additions to the Visa Direct service, Ukrposhta launched P2P transfers on their website and in their mobile application (Android and I...

Tuesday, February 15

In 2021, banks issued almost UAH 9B in new mortgages.

In 2021, banks issued almost UAH 9B in new mortgages. The National Bank of Ukraine reported that in December 2021 they issued 1,113 mortgage loans totaling UAH 990M ($35.4M). In 2021, banks issued 10,800 mortgage loans totaling UAH 8.9B ($317M). Almost ...

Fitch Ratings downgrade UZ credit rating to stable.

Fitch Ratings downgrade UZ credit rating to stable. Credit agency Fitch Ratings revised their credit rating of Ukrainian Railways (UZ) after the deterioration of the sovereign forecast. The forecast revision follows a recent change in Ukraine’s risk o...

In January, UZ earned a profit.

In January, UZ earned a profit. In January, the state-owned Ukrainian Railways (UZ) made a UAH 21M ($750,000) profit against a loss of UAH 693M ($25M) in January 2021. Also, UZ increased its annual revenue by 63% to UAH 9.3B ($332M...

Monday, February 14

Ukraine’s Eurobond rates rose again to 10.1-15.9%.

Ukraine’s Eurobond rates rose again to 10.1-15.9%. The fruitless meeting of the “Quartet of Normandy” national advisers and the US calls for its citizens to leave Ukraine disrupted the positive dynamics in the country’s Eurobond mar...

ICU is a leader in the private pension funds market.

ICU is a leader in the private pension funds market. According to ukrinform, the assets of investment and pension funds managed by the ICU group exceeded UAH 2.5B ($90M). Pension funds managed by the ICU were among top-rated Ukrainian in terms of profi...

Friday, February 11

The IMF plans to send a mission to Ukraine in the first quarter.

The IMF plans to send a mission to Ukraine in the first quarter. The International Monetary Fund is monitoring the situation in Ukraine and plans to hold a second review of the Stand-By lending program, stated the director of the IMF press office Jerry Rice. ̶...

The share of NPL loans in banks last year fell to 30%.

The share of NPL loans in banks last year fell to 30%. In the Ukrainian banking sector, the share of non-performing loans (NPLs) in 2021 decreased from 41% to 30% (a decrease of UAH 85.2B). The National Bank emphasizes that the current indicator is the be...

Fitch downgraded Naftogaz’s credit rating outlook.

Fitch downgraded Naftogaz’s credit rating outlook. According to Fitch, the revised Naftogaz’s rating has changed from positive to stable. At the same time, the agency left Naftogaz’s credit rating unchanged at level B, which reflects the risk of...

Thursday, February 10

Top 5 the most profitable Ukrainian banks in 2021.

Top 5 the most profitable Ukrainian banks in 2021. The state-owned PrivatBank topped the ranking of the most profitable Ukrainian banks in 2021, declaring UAH 35.05B in net profit. According to the National Bank of Ukraine (NBU), the second most profi...

Wednesday, February 9

The Ministry of Finance placed bonds for UAH 2.1B.

The Ministry of Finance placed bonds for UAH 2.1B. At an auction on February 8, 2022, the Ministry of Finance offered investors securities denominated in hryvnia with a maturity of 3 months, 1 year, 1.5 years, 2 years, 3 years, and 5 years and in for...

The Crypto industry in Ukraine grew by five times in 2021.

The Crypto industry in Ukraine grew by five times in 2021. According to Deputy Minister of Digital Transformation Alexander Bornyakov, the crypto industry in Ukraine increased by five times and became a powerful driver of Ukraine’s digital economy. Last...

Tuesday, February 8

Ukraine is seeking international financial assistance.

Ukraine is seeking international financial assistance. Ukraine is actively negotiating financial support with the IMF, the European Commission, and the United States, said the Minister of finance, Serhiy Marchenko. The Minister noted that the current sit...

Ukraine’s international reserves fell by 5%.

Ukraine’s international reserves fell by 5%. Ukraine’s international reserves decreased by 5%, to $29.3B in January, reported the National Bank of Ukraine (NBU). This results from NBU currency interventions to smooth the excessive fluctuations ...

Ukraine tax reform wants part-time workers to be taxed.

Ukraine tax reform wants part-time workers to be taxed. A draft of new tax reform is being prepared in Ukraine, according to which more than 20 types of professional activity will be obliged to pay taxes. To pay taxes on part-time work, a person will need ...

Monday, February 7

Ukraine may pay UAH 1.3-2.4B on GDP warrants in 2023.

Ukraine may pay UAH 1.3-2.4B on GDP warrants in 2023. Experts believe that Ukraine may pay between UAH 1.3B to UAH 2.4B to holders of GDP-warrants in 2023, as economic growth in 2021 could reach 3.2-3.3% of the GDP, experts said, referring to the State ...

United Mining and Chemical Company have recorded record profitability.

United Mining and Chemical Company have recorded record profitability. United Mining and Chemical Company (UMCC), which manages the Volnogorsky Integrated Mining and Metallurgical Plant and Irshansky Integrated Mining and Processing Plant, increased its sales income by ...

Thursday, February 3

The IMF is ready to support the countries that will suffer from Russia’s SWIFT disconnection.

The IMF is ready to support the countries that will suffer from Russia’s SWIFT disconnection. The International Monetary Fund is prepared to help countries that may suffer from any side effects of the Russian-Ukrainian conflict and other sanctions imposed by Western governments on Russia. Thi...

The U.S., Sweden, Switzerland, Great Britain, and Canada launched a £35M fund for Resilient Ukraine.

The U.S., Sweden, Switzerland, Great Britain, and Canada launched a £35M fund for Resilient Ukraine. “Today, we started the Partnership Fund, for a Resilient Ukraine,” said Deputy Prime Minister Iryna Vereshchuk. The US Charge d’Affaires Kristina Kvein noted that the USA, through USAID, intende...

The Ministry of Finance discussed the privatization of state-owned banks with the EBRD.

The Ministry of Finance discussed the privatization of state-owned banks with the EBRD. The Minister of Finance, Serhiy Marchenko, met with the head of the EBRD, Matteo Patrone, to discuss the financing of joint investment projects for 2022. These projects include the privatization of O...

Ukraine can pass the year mark without the issuance of Eurobonds under certain conditions.

Ukraine can pass the year mark without the issuance of Eurobonds under certain conditions. Conditions include obtaining an IMF loan, EU macro-financial assistance, and borrowing effectively in the domestic market, said Minister of Finance Sergiy Marchenko. First is cooperation with the IMF...

Wednesday, February 2

The European Commission has officially announced a proposal to allocate €1.2B to Ukraine.

The European Commission has officially announced a proposal to allocate €1.2B to Ukraine. This announcement was made in Brussels during a press briefing by European Commission spokeswoman Verli Nuitz, following the announcement by President Ursula von der Leyen last week. This program wil...

Binance plans to launch a crypto payment card in Ukraine.

Binance plans to launch a crypto payment card in Ukraine. Binance, the world’s largest cryptocurrency exchange operator, plans to launch a payment card in Ukraine with a balance in cryptocurrencies and automatic conversion upon payment, said Binance Ge...

Tuesday, February 1

The Monetary Policy Committee settled on a discount rate of 11%.

The Monetary Policy Committee settled on a discount rate of 11%. The National Bank of Ukraine (NBU) board set a discount rate of 10% on January 20, contrary to the decision of the Monetary Policy Committee the day before, which advised ant 11% rate to stabilize th...

The Turkish State Bank is considering entering the Ukrainian market.

The Turkish State Bank is considering entering the Ukrainian market. The Turkish state-owned Ziraat Bank, (Ziraat Bankası) discussed with the Ukrainian government agency, UkraineInvest the possibility of the bank entering the Ukrainian market. It is noted that the part...

Non-residents are withdrawing from Ukrainian securities due to military tensions.

Non-residents are withdrawing from Ukrainian securities due to military tensions. Prime Minister Denis Shmyhal states that due to pressures and escalation from Russia, non-residents are leaving Ukrainian securities. “This escalation of aggression and the special focus on thi...

The NBU sold $759M on the interbank market last week.

The NBU sold $759M on the interbank market last week. The National Bank of Ukraine sold $759M on the interbank foreign exchange market last week. According to the results of foreign exchange interventions, from January 24 to 28, 2022, the National Bank s...

The state budget paid UAH 2.5B for Chinese loans.

The state budget paid UAH 2.5B for Chinese loans. The Ministry of Finance transferred UAH 2.5B ($88M) in loans to the Chinese bank, Eximbank, in payment for the State Food and Grain Corporation debt. Of the $96.4M the corporation was due to pay China...

Monday, January 31

In 2021, inflation in Ukraine was 10%.

In 2021, inflation in Ukraine was 10%. According to the National Bank of Ukraine (NBU), consumer inflation in 2021 was 10%. The 5% ± 1 percentage point target was exceeded much more significantly than was expected a year ago. The NBU noted...

Friday, January 28

Ukrainian individual entrepreneurs (FOP) paid the highest taxes in 5 years.

Ukrainian individual entrepreneurs (FOP) paid the highest taxes in 5 years. In 2021, individual entrepreneurs paid UAH 34.8B ($1.23B), the highest tax amount in the last 5 years, reported Opendatabot. For comparison: in 2020 FOPs paid UAH 27.6B, in 2019 – UAH 24.95B, i...

Thursday, January 27

Ukraine reduced the share of its debt in 2021.

Ukraine reduced the share of its debt in 2021. At the end of December 2021, Ukraine’s public debt amounted to UAH 2.36T ($86.6B), about 45.2% of the country’s projected GDP, reported the Ministry of Finance. The total public and stat...

Wednesday, January 26

The NBU might raise the discount rate to 11% in March.

The NBU might raise the discount rate to 11% in March. The National Bank of Ukraine (NBU) plans to increase the discount rate by 100 basis points in March to 11% per annum from the current 10%, said First Deputy Chairman of the NBU Kateryna Rozhkova. Acc...

The Ministry of finance sold bonds for UAH 2.8B.

The Ministry of finance sold bonds for UAH 2.8B. At an auction on January 25, the Ministry of Finance sold domestic loan bonds worth UAH 2.846B: 3-month bonds for UAH 2.842B and 1.5-year bonds for only UAH 4M. The Ministry of Finance proposed the p...

Tuesday, January 25

Ukrainian Eurobonds and stocks collapsed again on Monday.

Ukrainian Eurobonds and stocks collapsed again on Monday. Ukraine’s dollar-denominated Eurobond, which stabilized in the middle of last week after three days of sharp falls, fell again by 2.4-4.4% on Monday following negative news that predicts an inc...

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