Finance

Wednesday, November 24

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 state...

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 yield...

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 tha...

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 2...

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 gover...

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. H...

Ukrposhta is entering the retail banking market with the purchase of a bank valued at UAH 260 mln. Ukrposhta purchased Alpari Bank for UAH 260 mln ($9.9 mln). The Cabinet of Ministers and the Ministry of Infrastructure, the owner of Ukrposhta, gave a green light for the agreement. Now the National ...

Friday, November 12

Consumer inflation in October 2021 slowed to 10.9% on a year-on-year period. It was higher than the NBU’s forecast. “Actual consumer inflation has slowed as expected but was slightly higher than the forecast published in the Inflation Report by NBU for October 2021. This...

The Ministry of Finance has raised the forecast of payments on public debt in 2022 by ₴17.91 bln ($687 mln) to ₴456.4 bln ($17.4 bln). At the same time, the forecast for payments in 2021 was reduced by ₴2.1 bln ($80 mln) to ₴593.89 bln ($22.6 bln), for domestic debt by ₴1.05...

Ukraine banks have issued 1,060 loans valued at ₴916.7 mln, announced the Ministry of Finance. Authorized banks within the framework of the state program “Affordable Mortgage 7%” issued 1,059 loans totaling ₴916.73 mln ($35 mln). Of the total amoun...

The Antimonopoly Committee of Ukraine (AMCU) has allowed MasterCard and Visa to reduce the interbank fee , announced the Chairperson of AMCU, Olga Pishchanskaya. This decision will help increase non-cash payments and reduce the cost of consumers of acquiring services. After obtaining the permission of th...

Thursday, November 11

The Ministry of Finance sold government bonds valued at ₴11.7 bln. The Ministry of Finance raised the equivalent of $446.6 mln for the budget when it auctioned domestic government bonds (IGLBs). Investors were offered seven issues of securities in national currency a...

The First Ukrainian International Bank (FUIB) in negotiations to purchase Idea Bank. According to Forbes Ukraine, the potential transaction was confirmed by FUIB’s press service. The transaction is not complete, but in the coming days, the parties are likely to announce to the r...

Sberbank sees no prospects in Ukraine. The Chairman of Sberbank, Herman Gref, announced the sale of its Ukrainian subsidiary. City the lack of opportunities in Ukraine. Mr Gref said that the bank is currently actively looking for a sale op...

Banks earned more fees from IGLBs than on loans to households or businesses. For three quarters of 2021, Ukrainian banks earned interest income from securities transactions to the value of ₴41.8 bln ($1.6 bln). At the same time, interest income from lending to individuals was ...

The National Commission is expanding the state register of securities issues. The commission will supplement the state register with information on: Issues of the bank’s deposit certificates registered by the Central Depository; NSSMC registered issues of derivative secur...

Wednesday, November 10

The Deposit Guarantee Fund will auction 11 land plots that are owned by Arkada Bank. The fund reminded investors of the opportunity to purchase land plots of JSCB “ARKADA” located in the village of Mykhailivka-Rubezhivka, Kyiv-Sviatoshynskyi district, Kyiv region. The resa...

The 2021 state budget deficit will be ₴170 bln ($ 6.46 bln) with an annual plan of ₴220 bln ($8.36 bln). The announcement was made by the Head of the Center for Analysis of Public Finances and Public Administration of the Kyiv School of Economics, Daryna March...

The government will attract up to €250 mln in loans from the USA. The Cabinet of Ministers will approve the loan from the US agricultural company, Cargill. The maturity of the three-year loan will be at 5.15%, and the five-year loan at 5.85%.

Ukraine may get a mobile online stock market trading platform. With the Ukrainian securities market is reviving, an online trading service will be launched, and the competition between mobile offers for clients will begin. Stock market players expressed this opin...

Tuesday, November 9

Ukraine has attracted a record amount of international investment since the beginning of 2021, said the Prime Minister, Denys Shmygal, on Facebook. Ukraine has attracted $ 4.8 bln in foreign direct investment (FDI) in three quarters of 2021. In the first half of the...

Monday, November 8

Ukrgasbank signs agreements with UAE’s Mashreq Bank for a loan valued at $35 mln. Both banks concluded the first agreement on structured trade financing, according to a recent press statement. The amount of transaction totals about $35 mln, for a term of up to 60 days which will as...

Ukraine’s international reserves resumed growth and increased by 3.3% in October after falling sharply in September 2021 due to public debt payments, reported NBU. As of November 1, reserves amounted to $ 29.65 bln, which is 3.5% more than in September. The increase is ...

Monobank has increased its profits six-fold to $100 mln. “We are actively growing our customer base,” said Oleg Gorokhovsky, the co-founder of Monobank. The number of active mono cards as of September 2021 has grown to 4.3 mln, which is twice as...

Friday, November 5

The Verkhovna Rada passed a law establishing a Credit Guarantee Fund for farmers. The new law is designed to support small and medium businesses, including farms, by providing loan guarantees of up to 50% of the outstanding amount of principal for up to 10 years.

EBRD expects Ukraine’s economy to grow by 3.5 % in both 2021 and 2022, said a press release of the bank. Growth in 2021 will be fueled by a rich grain harvest and the continued normalization of business activities, though slow progress on reform and rollout of the Covid-...

The National Commission on Securities and Stock Market has admitted to circulation in Ukraine new securities of blue-chip companies including Nike, PepsiCo, Pfizer, and PayPal. The announcement was made by the National Commission on Securities and Stock Market of Ukraine. Ukrainian investors can take the opportunity to i...

The Prozorro auction site contributed a record ₴57 mln in taxes and dividends to Ukraine’s budget. In an announcement from the Ministry of Economy, in the first nine months of 2021 Prozorro.Sales paid a record ₴57.3 ($2.17mln) in taxes and dividends to the state budget. Of these, ₴8.9 mln ($338,000...

Thursday, November 4

Ministry of Finance to invest ₴124.1 bln ($4.72 bln) in the development of road networks in 2022. The announcement was subject to receiving syndicated finance from the EBRD to: reconstruct the Kyiv Odesa highway (M-05); construction of the northern bypass of Lviv and Ternopil; reconstruction of a ...

The Ukrainian government to reduce its ownership of banks by 25%, announced the Ministry of Finance. The main goal is to reduce the share of the state in the banking sector to below 25% in 2025. The partnership with IFC and the transformation processes carried out b...

ProCredit Bank has joined the EBRD-EU4Business Small and Medium Business Support Program by signing a Loan Agreement with the EBRD. The program is a joint EU-EBRD initiative to assist Ukrainian small and medium-sized enterprises (SMEs) in financing their sustainable investments in technol...

EBRD to invest $75 million in a sustainability-linked Eurobond issued by Ukrenergo. In a bid to resolve the payments crisis gripping the country’s renewable energy sector, the proceeds will cover all payment arrears owed to renewable energy producers. The investment will help to rest...

JPMorgan has improved the forecast of the hryvnia exchange rate for 2022. In October-December 2021, the hryvnia exchange rate is projected at ₴26.3 / $1, previously it was expected to be ₴26.5 / $1. The hryvnia exchange rate will remain at this level in January-Ma...

Wednesday, November 3

Ukrenergo has raised $825 mln with the placement of 5-year “green” Eurobonds at 6.875% , reported Interfax. The placement is organized by BNP Paribas, Deutsche Bank, Goldman Sachs and Ukreximbank. It was supported by the Cabinet of Ministers which provided Ukrenergo with state guarantee...

State budget revenues exceeded Treasury expectations by 4.5%. Revenues for the period January-October 2021 were ₴1.018 trillion ($38.7 bln), which was 4.5% or 43.7 bln ($1.66 bln) more than forecast and 21% higher than in the same period last year, reported trea...