Finance

Wednesday, November 3

Even with this surplus in revenues, the government continues to lag behind in expenditures by 7.3% in the period January-October 2021 . The general fund received a total of ₴862.1 bln ($32.8 bln), of which ₴488.2 bln ($18.55 bln) were taxes from the State Tax Service and another ₴321.6 billion ($12.2 bln) was from the State Customs ...

Asset sales of seven Ukrainian banks. The Individual Deposit Guarantee Fund for Individuals has put up for sale the assets of seven banks valued at ₴1.93 bln ($73.38 mln), reported the press service of the Foundation. The following assets...

The National Bank of Ukraine (NBU) has excluded 55 firms from the State Register of Financial Institutions due to the lack of valid licenses. “The NBU exclusion included 42 financial companies and 13 pawnshops due to the lack of valid licenses,” announced NBU on its website.

Remittances to Ukraine have exceeded $10.34 bln since the beginning of 2021 , announced the NBU. In the period January-September, private transfers to Ukraine amounted to $10.339 bln. During the month of September, the volume of private remittances to Ukraine from abroad reac...

Tuesday, November 2

The NBU discount rate of 8.5% was supported by 7 members of the NBU committee. Three were in favor of raising it to 9%. The discounted rate was announced on the NBU telegram channel. During the meeting, the committee members noted that the current inflationary development is clo...

290 companies were removed from the register of large taxpayers in Ukraine. At the same time, 258 new ones were added reducing the register was reduced by 32 companies, Opendatabot.

Monday, November 1

Inflation will slow down to single-digit rate of 9.6% by the end of 2021 stated the quarterly Inflation Report of the National Bank of Ukraine. After the peak in the September-October period, the rate of inflation will begin to slow down and at the end of 2021 will be 9.6%...

Nova Poshta doubled its net profit. In January-September 2021, Nova Poshta increased its net profit 2.3 times compared to the same period last year to ₴2.1 bln ($87.5) from ₴906 mln ($34.5 mln). Nova Poshta’s net income for the re...

The National Investment Fund will place shares valued at ₴100 mln ($3.8 mln). The first issue of shares valued at ₴100 mln was registered on October 28, 2021, and the placement of shares is scheduled for the period November 5 to 12, 2021.

Friday, October 29

The number of individual entrepreneurs (FOP) is growing on average of 7,000 every month. “As of October 20, there are 1,982,348 FOPS active in Ukraine. Their number increases by an average of 7,000 a month, new registrations is around 20,000 and closes ones is around 13,000,” announced op...

Ukrainian investors will be able to buy stocks in Google, Amazon, Intel, and other US blue-chip companies. The National Securities and Stock Market Commission has admitted to trading 15 more international companies, including Bank of America, Google, Amazon, and others. In total, Ukrainian investors can cu...

Thursday, October 28

Ukraine’s public and state-guaranteed debt decreased by ₴ 40 bln ($1.52 bln). As of the end of September 2021, the total public and state-guaranteed debt of Ukraine amounted to ₴2,445.52 bln ($92.02 bln). During the month the debt decreased by ₴39.8 bln and by $510 mln. “...

The First Ukrainian International Bank (FUIB) announced a profit of ₴3 bln ($114 mln) in the first nine months of 2021. The result is almost ₴1 bln ($38 mln) more than in the profits for the same period in 2020 (₴2.06 bln). In the meeting of bank shareholders in March 2021, the decision was made to distribute ₴1.3 bln ...

The net purchase of foreign currency amounted to $37 mln since the beginning of October 2021. The net purchase of foreign currency by the population of Ukraine was $37 million announced the Chairman of the NBU, Bohdan Danylyshyn. Since the beginning of the ...

Wednesday, October 27

The Ministry of Finance has sold government bonds valued at ₴17.2 bln ($653 mln). Investors were offered six bond issues in national currency and one issue in foreign currency reported the Ministry of Finance on the Facebook page. The terms of government bonds in hryvnia were: 3 mo...

In September 2021, Ukreximbank reported a record profit. The monthly operating profit of Ukreximbank exceeded ₴ 533 mln ($ 20 mln) which was a record value for the entire period of its activity since 1992, announced the bank. The results were achieved by th...

Farmers to receive more than a $1 bln in affordable loans, under the program “Affordable loans 5-7-9%”. “We have launched a very powerful program 5-7-9, which has provided more than a billion dollars in cheap loans for Ukrainian farmers to u...

Tuesday, October 26

EU disburses €600 mln in Macro-Financial Assistance to Ukraine. This is the second and final tranche under Ukraine’s current MFA program following the first €600 million disbursements in December 2020. With this payment, the outstanding amount of loans to Uk...

Last week NBU purchased $ 350 million on the interbank market. The purchase of currency on the interbank market between October 18-23 was valued at $350.1 mln, according to NBU data. The National Bank has not intervened in the sale of currency for seven weeks pri...

Oschadbank made the first step toward Privatization, said the European Bank for Reconstruction and Development (EBRD) in a recent press release. The EBRD and Oschadbank, Ukraine’s state savings bank, today agreed today to work together towards a pre-pri...

Oschadbank to borrow €100 mln from the EBRD. The funds will come in the form of a subordinated loan with the possibility of conversion into shares, reported the Ministry of Finance. The bank officials agreed to work in accordance with the develo...

Kazakhstan’s fintech company, Kaspi.kz, purchases a bank in Ukraine. The fintech company purchased a bank in order to receive a banking license. Kaspi.kz has signed a purchase agreement for 100% of BTA Bank Ukraine to obtain a banking license in the region. This will a...

Ukrtelecom increased revenues by 7% in the nine months of 2021. Ukrtelecom’s revenue for the first nine months amounted to more than UAH 5 bln ($190 mln), which is 7% more than the same period in 2020, reported Ukrtelecom. At the same time, EBITDA is almost ...

The number of debtors in the state register has increased by 60% since the beginning of the year. If in January 2021 there were 4.2 million, then as of October, 6.8 mln, according to the platform for working with open data “Opendatabot”. It is noted tha...

Monday, October 25

Russian Sberbank plans to return its banking license, and close down its operations in Ukraine, reported RBK. At the next meeting of shareholders of the Ukrainian subsidiary of the Russian state bank, Sberbank, the decision will be raised on the closing down banking activities without terminatio...

Two bills were signed on NBU independence by Verkhovna Rada Chairman Ruslan Stefanchuk. The first Bill No. 5853. The Budget Code of Ukraine to clarify the information provided by the National Bank of Ukraine (NBU) for the preparation of the B...

The NBU lowered the forecast of international reserves at the end of 2021 from $31.3 bln to $31.1 bln (NBU). According to the macroeconomic forecast of the regulator, the previously planned volume of international reserves for the end of 2021 was forecast...

Terms for the program “Affordable Loans 5-7-9%” changes. Individuals and entrepreneurs with an annual income of up to UAH 50 mln ($1.9 mln), will be able to receive soft loans at a rate of 12% per annum up to UAH 1 mln ($38,000) without collateral (the loan...

The terms for “Mortgage at 7%” to undergo changes. The conditions for obtaining a soft loan at 7% are set out in a government decree № 63. The maximum loan amount is UAH 2 mln ($76,000). The maximum term is 20 years, and the minimum down payment is 15...

Friday, October 22

Banks loans to small and medium-sized businesses amounted to UAH 6.1 bln ($228 mln). Banks issued 2,112 loans under state guarantees on a portfolio basis in support of micro, small and medium-sized businesses. As of October 1, the total amount of loans was valued at UAH 6.1 billion. I...

The National Bank kept the prime rate at 8.5% . “The decision is consistent with a reduction in inflation to 5% by the end of next year. In accordance with the baseline scenario of the updated macroeconomic forecast”, said the Head of the NBU, Kiri...

The $700 million tranche of the IMF would be used to finance the state budget deficit. The President’s Economic Adviser, Oleg Ustenko, said: “We expect this $700 million in the near future, a preliminary agreement has already been signed with the International Monetary Fund....

Ukreximbank is looking to offload its problematic loan portfolio which is valued at UAH 24 bln ($912 mln) in an online auction. The first auction with a starting price of UAH 7 bln ($266 mln) will take place on November 3, 2021. Ukreximbank which is state-owned, will start selling non-performing loans (NP...

State-owned enterprises have earned UAH 14.8 bln in the first six months of 2021 . Of the 14 companies, 8 were profitable, earning UAH 14.8 bln ($563 mln). The most profitable enterprises were: Ukrhydroenergo UAH 6.2 bln ($236 mln); The operator of the Gas Transmission System of U...

Upward trend M&A in Ukraine continues. The market for mergers and acquisitions (M&A) in Ukraine which had previously experienced a shortage of buyers, has been growing for the third year in a row, Serhiy Budkin, the Managing Partner of...

Thursday, October 21

PrivatBank’s profit exceeded UAH 21 bln ($766 mln) in the first nine months of 2021. ” The amount was almost equal to the amount of profit for the same period last year (UAH 21.3 billion). The revival of business activity in Ukraine and a balanced risk management policy led to a...

The Ministry of Finance sold UAH 2.1 bln ($80 mln) on the domestic bond market , reported the Ministry of Finance. On October 19, the agency offered investors two issues of securities in national currency and one in foreign currency. The government bonds in hryvnia had maturity ...

Wednesday, October 20

State-owned banks reduced non-performing loan (NPL) portfolios by UAH 108 billion ($4.1 bln). Since January 2020, the reduction in the level of NPLs in the period to September was 35%. State-owned banks reduced NPL portfolios by UAH 108 billion, which is almost 80% of the total reduction in th...

Privatization of the Kyiv “Electronmash” plant was announced by the State Property Fund. “Electronmash”, is up for an auction with a starting price is UAH 66.7 million ($2.54 mln). The auction is scheduled for November 12. Along with t...

Tuesday, October 19

The International Monetary Fund (IMF) and Ukraine agreed on a tranche of funding of $ 700 million, reported imf.org. The IMF and the Government of Ukraine have signed a preliminary agreement to extend the lending program and provide Ukraine with a tranche of about $700 million. The IMF team and Ukr...

The government estimates economic growth at 2.9% in 8 months. The Ministry of Economy reported that in the first 8 months of 2021 GDP grew by 2.9%. In August 2021, almost all major economic activity, except for wholesale trade, demonstrated an increase in volume...

Privatization of Oschadbank, Ukrgasbank, and Privatbank to attract investors. This announcement was made by the EBRD Managing Director for Eastern Europe and the Caucasus, Matteo Patrone, speaking to the Voice of America. “The EBRD together with the World Bank is cooperating wi...

Monday, October 18

The NBU bought $120 million of currency last week, reported the National Bank of Ukraine. Since the beginning of the year, the NBU has purchased $1.904 bln and sold $197 mln. It has strengthened the official exchange rate of hryvnia against the dollar...

A new stock exchange in Ukraine maybe the integrated exchange for trade in capital and goods announced the head of the National Commission on Stock Market and Securities, Ruslan Magomedov. “This is a USAID project. There is an...

Metinvest’s credit rating is higher than that of Ukraine. The international rating agency S&P Global Ratings has raised Metinvest’s long-term credit rating from “B” to “B +”, which is one step higher than Ukraine’s sov...

Friday, October 15

International rating agency Fitch lifts the rating of Ukrainian state banks ratings to “B” (interfax). Fitch confirmed Ukreximbank’s resilience rating to “B-“, and the long-term issuer default ratings (IDRs) of the state-owned PrivatBank, Oschadbank, Ukreximbank, and Ukrga...

Thursday, October 14

Ukraine may receive $ 1.4 billion from the IMF in October-December 2021, predicted JP Morgan. “We believe that the IMF will pay a tranche of $1.4 billion in the fourth quarter of 2021 but is considering a possible range of this amount from $1 bill...

The Board of the National Bank of Ukraine met with G7 Ambassadors and the EU Delegation to Ukraine. In an announcement from the central bank’s press service, the NBU Governor and his deputies briefed the representatives of the international diplomatic community on the progress and results achi...

CMS advised on securities clearing infrastructure in Ukraine. CMS Cameron McKenna Nabarro Olswang in Kyiv has advised DAI Global (USAID) and the National Securities and the Stock Markets Commission of Ukraine on the rules for clearing transactions with securitie...

Wednesday, October 13

IMF estimate of Ukraine’s GDP growth in 2021. The IMF has decreased its forecast of Ukraine’s GDP growth in 2021 from 4% to 3.5%, according to the Fund’s World Economic Outlook (WEO) (interfaxukraine). The organization raised its expe...