State-controlled bank PrivatBank in January-July 2020 continues to top the list of profitable Ukrainian banks with a financial result of UAH 16.2 billion, while the largest loss since April 2020 has been recorded by state-owned Ukreximbank (UAH 2.24 billion), according to data posted on the website of the National Bank of Ukraine (NBU).
According to the report, the second position in the list of the most profitable Ukrainian banks continued to be occupied by Oschadbank (UAH 4.32 billion), the third by Raiffeisen Bank Aval (UAH 2.46 billion). The fourth is still FUIB (UAH 1.5 billion), the fifth is OTP Bank (UAH 908.94 million), which climbed two steps, having received UAH 319.78 million of net profit in July.
In terms of losses in July, the list did not change: in the seven months of 2020, Prominvestbank ranked second (PIB, UAH 330.93 million), Credit Dnipro Bank ranked third (UAH 184.42 million), Pravex Bank ranked fourth (UAH 99.86 million), BTA Bank ranked fifth (UAH 67.17 million), according to the central bank’s statements.
In the seven months of 2020, solvent banks in Ukraine received UAH 28.39 billion of net profit, which is 23% less than in the same period of 2019 (UAH 36.73 billion).
During this period, 58 out of 75 banks operating in Ukraine were profitable, according to the NBU data.
According to the regulator’s statistics, in the seven months of 2020 in terms of total assets PrivatBank retained the first place in the rating (UAH 585.21 billion), Oschadbank ranked second (UAH 275.82 billion), Ukreximbank ranked third (UAH 239.05 billion), Ukrgasbank ranked fourth (UAH 163.13 billion), and Raiffeisen Bank Aval ranked fifth (UAH 104.17 billion).
Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, in January-June 2020 reduced capital investments by 35% compared to the same period in 2019, to $ 313 million.
According to preliminary unaudited interim financial results for the first half of 2020, the capex reduction was planned during this period.
“In line with the group’s 2020 capex priorities for critical asset maintenance and the completion of ongoing strategic investment projects, investments in maintenance and repairs decreased by 33%, while investments in strategic projects were reduced by 38%, which brought their share in capital investments to 65% and 35%, respectively (63% and 37% in the first half of 2019),” the report states.
At the same time, it is clarified that the metallurgical segment accounted for 47% of capital investments (50% in the first half of 2019), and the mining segment for 49% (46% in the same comparison).
The Interdepartmental Commission on International Trade has launched an antidumping investigation into the import of cement from Turkey to Ukraine.
The commission’s decision of September 2, 2020 to initiate an investigation comes into force from the moment of its publication, according to data on the Uriadovy Kurier edition’s website on September 5, 2020.
According to the report, the commission received a corresponding complaint from PrJSC Dyckerhoff Cement Ukraine, PrJSC Kryvy Rih Cement, PrJSC Mykolaivcement, PJSC Podilsky Cement, Cement LLC with the support of PrJSC Ivano-Frankivskcement.
According to the applicant, during the observation period (2017-2019), the dumping import of cement in absolute terms increased by 809%, in terms of consumption by 837%. In addition, the trend continues in 2020. According to the forecast, by the end of 2020 imports will increase by 1,815% and 2,547%, respectively. At the same time, prices for imported cement were lower than the prices of the applicant, and the growing volumes of imports forced him to reduce prices, despite the increase in cost.
Having considered the complaint, the authority concluded that import of cement from Turkey to Ukraine was carried out in volumes and on conditions that could cause damage to the national producer.
The Ministry of Economy has been instructed to conduct the antidumping investigation. Registration of interested parties is carried out within 30 days.
Sugar production in Ukraine as of September 8, 2020 amounted to 1,050 tonnes.
According to the report of the Ukrtsukor National Association of Sugar Producers, as of this date one sugar refinery in the country – Radekhiv Sugar LLC – is operating, which has processed 17,400 tonnes of sugar beet by now.
As reported with reference to Ukrtsukor, sugar production in the country in 2020 is projected at the level of 1.2-1.3 million tonnes, which is 15% less than a year earlier.
It is expected that 33 sugar refineries will operate this season – the same number as last year.
The Cabinet of Ministers of Ukraine under the Stand-By Arrangement with the International Monetary Fund (IMF) has updated the principles of strategic reforming of state-owned banks.
“The main priorities of the regulations are to implement strategies for each bank in the public sector, protect and support the implementation of corporate governance reform with a majority of independent members in the supervisory board, reduce the share of non-performing assets on the balance sheet, reduce the position of the state, state-owned enterprises in public sector banks, and other things,” Deputy Finance Minister Denys Uliutin said at a meeting of the Cabinet of Ministers on Wednesday.
He said that the Ministry of Finance has developed an updated version of the basis for strategic reform of state-owned banks following consultations with international experts, the National Bank of Ukraine (NBU) and public sector banks.
According to NBU Governor Kyrylo Shevchenko, who was also present at the meeting of the Cabinet, the regulator supports the update of the principles of strategic reforming of state-owned banks.
“We would like to support this draft document, because, in accordance with Article 17 of the Memorandum with the IMF, Ukraine has also undertaken to update the strategic provisions. We have really worked out this document, and I want to support my colleagues from the Ministry of Finance so that it can be approved as soon as possible,” he said.
According to a report on the website of the Ministry of Finance on Wednesday, the updated principles of strategic reforming of state-owned banks provide, in particular, a decrease in the state’s share in the banking sector from 60% to 25% by 2025.
KYIV. Sept 2 (Interfax-Ukraine) – The Verkhovna Rada has ratified an agreement on the joint production of audiovisual works between the governments of Ukraine and Canada.
Some 318 deputies voted for corresponding bill No. 0040 at the plenary session on Wednesday.
The agreement was signed in Toronto on July 2, 2019.
An explanatory note to the draft law says that the ratification of the agreement will contribute to the intensification of the international activities of the subjects of cinematography of Ukraine in joint film production with other countries.
AGREEMENT, CANADA, CO-PRODUCTION AUDIOVISUAL WORKS, PARLIAMENT, RATIFIES
