Business news from Ukraine

CITIBANK-UKRAINE SEES NET PROFIT RISE

PJSC Citibank (Kyiv) in January-June 2018 received a net profit of UAH 627.989 million, which is 4.9% more than for the same period in 2017 (UAH 598.313 million).
According to the bank’s quarterly financial report, net interest income for the six months was UAH 657.974 million, which is 5.3% more than for the corresponding period of 2017 (UAH 625.030 million).
Excluding expenses for the formation of reserves, net interest income was UAH 683.345 million, which is 10.8% more than for the corresponding period of the previous year (UAH 616.736 million).
In addition, the bank posted a commission income of UAH 89.948 million (an increase of 86.5% over the same period in 2017).
The assets of the bank for the six months rose by 5.8%, to UAH 20.119 billion, in particular loans and customers’ debts decreased by 7.9%, to UAH 5.104 billion.
Charter capital by the end of June 2018 remained at the same level, at UAH 200 million, while net worth rose by 35.4%, to UAH 2.490 billion.
Citibank was founded in 1998. It is a subsidiary of Citibank NA (the United States).

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UKRNAFTA SEES PROFIT RISE BY 54%

Ukrnafta saw net profit rise by 54.3% in January-June 2018 compared to the same period in 2017, to UAH 2.061 billion.
According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, its net income grew by 21.6%, to UAH 16.762 billion, gross profit by 40.8%, to UAH 9.675 billion.
In January-June 2018 Ukrnafta sold 712,800 tonnes of oil with gas condensate for UAH 9.398 billion, 117.8 million cubic meters of natural gas for UAH 889.635 million, 174,200 tonnes of fertilizers and nitrogen compounds for UAH 831.937 million, 53,000 tonnes of liquefied gas for UAH 639.321 million.
Ukrnafta has not indicated data on the sales of petroleum products for the first half of the year.
Naftogaz Ukrainy owns a 50% plus one share stake of Ukrnafta, the former shareholders of PrivatBank (Kyiv) hold about 42% of the shares.

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