The net profit of UkrSibbank (Kyiv) at the end of 2019 amounted to UAH 2.58 billion, which is 3% less than in 2018 (UAH 2.66 billion), according to the annual report of the financial institution. According to the bank, its net profit in the fourth quarter of 2019 decreased by 33% compared to the same indicator in 2018 and amounted to UAH 507.42 million.
UkrSibbank’s net interest income for 2019 compared to 2018 increased by 8.4%, to UAH 4.21 billion, while the expenses on creating reserves for expected credit losses amounted to UAH 153.29 million, whereas in 2018 the bank, on the contrary, received an additional UAH 121.28 million.
Bank assets over the past year increased by 2%, to UAH 53.20 billion, in particular, loans and customer debt decreased by 18.2%, to UAH 21.37 billion, and the volume of securities and investments in associates and subsidiaries increased 5.3 times, to UAH 13.33 billion.
The liabilities of UkrSibbank for the indicated period increased by 2.5%, to UAH 46.42 billion, including the amount of customer funds in the bank that grew by 10.5%, to UAH 45.42 billion.
The equity capital of UkrSibbank for 2019 increased by UAH 53.58 million, to UAH 6.78 billion, and the size of its charter capital remained unchanged being UAH 5.07 billion.
UkrSibbank was founded in 1990. At the beginning of the year, its shareholders were BNP Paribas S.A (France), which owns 60% of the bank’s charter capital and the European Bank for Reconstruction and Development with 40%.
According to the NBU, as of January 1, 2020, UkrSibbank ranked ninth in terms of total assets among 75 operating banks in Ukraine.
The Kyivstar mobile communications operator in January-March 2020 increased total operating revenue by 16.1% year-over-year, to UAH 5.95 billion, according to a report of the shareholder in the company, Veon international group, posted on its official website.
“The increase was primarily driven by mobile data, voice and fixed line revenue growth owing to continuous 4G roll out, increase traffic and pricing. In addition, the local currency also observed an improvement against the USD when compared with the same period last year,” Veon said.
According to Veon, in the first quarter, Kyivstar increased its EBITDA by 25.35% compared to the same period last year, to UAH 4.04 billion. EBITDA margin increased 5 percentage points (pp), to 67.9%.
Revenue from mobile services increased by 16.1%, to UAH 5.53 billion.
Veon reported that Kyivstar’s mobile Internet coverage reached 77%, while 4G mobile penetration in the operator’s network reached 30%.
ARPU of mobile communications grew to UAH 70.30, or 17.43%, the consumption of voice services (MoU) – by 3%, to 603 minutes.
Overall, Kyivstar’s mobile customer base decreased slightly by 1.2% to 26.0 million.
“The decrease was a result of demographic trends in Ukraine and the reduction in multi SIM users. The number of our mobile data customers in Ukraine increased by 10% year-on-year, mainly due to an increased 4G/ LTE user penetration,” Veon said in its report.
Fixed line revenue increased by 16.86%, to UAH 384 million, fixed broadband ARPU increased by 7.63% to UAH 81. Fixed broadband customer base grew by 9.99%, to 1 million customers.
Capex for the reporting period increased by 37.11% (excluding the cost of licenses for 4G communications) and amounted to UAH 1.347 billion.
Basically, the funds were used to roll out 4G networks and provide high quality services. The 4G network of Kyivstar, according to the operator, covers 11,000 settlements, and almost 79% of the population of Ukraine has access to new mobile technologies.
“We have significantly increased investments in communication quality and new technologies. The company also mobilized its resources to help the country overcome the coronavirus COVID-19 epidemic as soon as possible. We provided UAH 30 million in charity support for the purchase of medical equipment saving the lives of seriously ill patients. Another telecom services for UAH 30 million were provided to support quarantined subscribers,” Kyivstar President Alexander Komarov said, being quoted in a press release of the Ukrainian operator.
In the first quarter of 2020, changes occurred in Kyivstar’s corporate governance: the company attracted external independent advisers: Naftogaz Ukrainy Executive Board Chairman Andriy Kobolev, Board Chairman of the Darnitsa Group Dmytro Shimkiv and co-founder of the Diligent Capital Partners investment fund Dan Pasko to regular meetings of the supervisory board.
“The experience and expertise of independent advisers are intended to help the company better respond to the challenges of the industry and the needs of society,” Kyivstar said.
In January-March 2020, Kyivstar paid taxes and other payments to the budget of Ukraine totaling UAH 2.394 billion.
Biopharma pharmaceutical company (Kyiv) urges citizens who came through coronavirus (COVID-19) to become plasma donors to develop a medicine against this disease, which the company is launching. The company told Interfax-Ukraine that hyperimmune immunoglobulin may be effective for specific treatment of COVID-19.
The development of the medicine is carried out under Biopharma’s participation in the work of the International alliance of companies specializing in the production of blood plasma medicines, which also includes Takeda and CSL, Octapharma, Biotest, BPL, LFB, Sanquin, GreenCros, ADMA Biologics.
“Our plasma centers in Sumy, Cherkasy, Dnipro, Kharkiv began plasma blank. All the facilities of our plant in Bila Tserkva, all the forces of our team are directed to the development of medicines. I am sure that effective treatment of COVID-19 will appear,” co-owner of the company Kostiantyn Yefymenko wrote on Facebook.
In turn, businessman Vasyl Khmelnytsky, a co-owner of Biopharma as well, said that the development of an effective medicine against COVID-19 requires the support of people around the world who are ready to donate their plasma after coming through the disease.
“We urge those who have recovered to contribute to the fight against the pandemic and, if their health allows, to become a donor,” he wrote on Facebook.
The company said that Biopharma urged all survivors who wish to become blood plasma donors to contact the company’s hotline. Donors will be transported to their plasma centers, where blood plasma can be donated, and back, and they will get compensation for donation.
The company said that it is ready to register and transfer donors from any settlements.
In addition, Biopharma said that one more direction of the fight against coronavirus infection is the clinical study that have begun to evaluate the effectiveness of Bioven medicine manufactured by Biopharma Plazma LLC in the complex treatment of patients with pneumonia caused by COVID-19 and SARS- CoV-2 coronavirus infection.
Ukraine and Spain will continue working together to conclude an agreement on a common aviation space. The issue of creating additional travel opportunities for citizens was discussed during a telephone conversation between Minister of Foreign Affairs of Ukraine Dmytro Kuleba and Minister of Foreign Affairs, the European Union and Cooperation of Spain Arancha Gonzalez Laya.
“The Foreign Ministry of Ukraine has consistently advocated for Ukrainians’ opportunities to travel freely around Europe and the world. We are working hard to create new opportunities for air travel between Ukraine and the EU countries. The agreement on a joint aviation space just creates such opportunities. We will do everything to conclude this agreement,” Kuleba said, the press service of the Ukrainian Foreign Ministry reported.
Both sides stated that the conclusion of the Agreement on the common aviation space meets mutually beneficial interests and will contribute to the intensification of business, tourist and interpersonal contacts.
The ministers also discussed the importance of enhancing bilateral economic and investment cooperation. It is noted that the creation of additional business opportunities will be facilitated by the signing of the Convention on Avoiding Double Taxation between Ukraine and Spain.
The parties also exchanged information on measures taken by the governments of both countries to counter the spread of COVID-19. Kuleba thanked the Spanish government for the assistance in returning Ukrainian citizens home.
Arancha Gonzalez Laya, in turn, confirmed the invariable position of Spain in the matter of protecting the sovereignty and territorial integrity of Ukraine.
INGO Ukraine insurance company (Kyiv) collected more than UAH 410 million of insurance premiums in January-March 2020, which is 19% higher than in the same period in 2019.
The insurer said in its press release that transport insurance accounts for more than UAH 167 million, life and personal health insurance is more than UAH 145.3 million, package insurance (property and liability) is more than UAH 69.9 million, special types (carriers liability insurance, shipping and forwarding agents, airlines, ship owners, full comprehensive insurance of aircraft and sea vessels, etc.) are more than UAH 26.7 million, other types are more than UAH 1.1 million.
According to the company, more than UAH 194 million (25% more) was paid to customers, more than 46,500 insurance accidents were settled in the first three months of 2020.
Formed actuarial reserve of INGO insurer as of March 30, 2020 amounted to more than UAH 1.092 billion, the value of net assets was UAH 668,094.
The indicator of positive net assets over the charter capital meets the requirements of the law and amounts to UAH 362.551 million. The actual solvency margin is UAH 626.087 million, which exceeds the standard inventory by UAH 371.599 million.
Chairman of the Supervisory Board Ihor Hordienko said that taking into account the experience of previous crisis periods, the company developed several scenarios of the crisis bailout plan, in accordance with which costs will be optimized.
In general, today the operational efficiency of the insurance company has increased. Some 75% of employees work remotely, some 25% works in offices, supporting the technical infrastructure and critical regulations. Communication with customers, contractors, and partners is remote. In the same mode, the work of most subdivisions is carried out. As a result, internal cashless and paperless projects have accelerated and have already reached the level of cashless transactions and electronic document flow, which was expected at the end of 2020.
JSC INGO Insurance Company has more than 25 years of experience in the market. Since 2017, the main shareholder of the company has been the Ukrainian business group DCH belonged to Oleksandr Yaroslavsky.
Private joint-stock company Farmak (Kyiv), the pharmaceutical company, did not halt production and will gradually exit lockdown, the press service of the company has told Interfax-Ukraine.
“Farmak continues production as usual. All lines are working as planned. However, after lockdown was announced all over the country on March 12 and the Health Ministry recommended that enterprises transfer employees to remote work, if possible, Farmak transferred some employees to remote work,” the company said.
According to the company, in particular, within the framework of lockdown restrictions introduced in the country, the sanitary regime was tightened to provide additional protection for workers, members of their families and to prevent the spread of coronavirus disease COVID-10, and a reserve of disinfection and personal protective equipment was created.
The company also developed an algorithm of actions and escort routes for people with signs of ARVI, limited mass meetings, replacing them with remote meetings, suspended business trips of employees abroad, and limited business trips within Ukraine.
Workers who returned from abroad starting March 16, switched to telework for 14 days,” the company said.
During lockdown, to ensure uninterrupted operation, Farmak developed routes and a schedule for centralized transportation of employees from their places of residence at 5.45 a.m., and a carsharing group was created to deliver employees to the office.
The press service of Farmak noted an increased demand for medicines manufactured by the company.
“Production is responding to increased demand. Our mission is to make affordable and effective medicines available for treatment, so we quickly adapt to changing market needs. For example, Farmak produces medicines (Amizon, Nazoferon, Gropivirin, Pelorsin) that can be used to treat and prevent influenza and ARVI,” the company said.
