Business news from Ukraine

Business news from Ukraine

BRITISH AMBASSADOR JUDITH GOUGH COMPLETES HER 4-YEAR DIPLOMATIC MISSION IN UKRAINE

British Ambassador to Ukraine Judith Gough will complete her diplomatic mission in the coming days.
“Thank you Ukraine for four bright years! I learned a lot and had the honor to meet and collaborate with many impressive people. I am especially grateful to my amazing team. I am very sad to leave, but this is not a farewell … see you!” wrote Gough on her Twitter account on Thursday.
The diplomat also recorded a video in which she summed up the results of her diplomatic mission in Ukraine, and also recalled the most memorable events that occurred during her cadence.
The British Embassy, in turn, noted that Gough is completing her diplomatic mission in Ukraine “the other day.”

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UKRAINIAN MOBILE OPERATOR LIFECELL SEES 41.8% RISE IN NET LOSS

The mobile communications operator lifecell in April-June 2019 saw a rise of 41.8% in net loss year-over-year, to UAH 293.2 million.
According to financial report posted on its official website, lifecell’s revenue grew by 16.1%, to UAH 1.48 billion.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 41.7%, to UAH 798.8 million. EBITDA margin grew by 9.7 percentage points, to 53.9%.
The increase is linked to growth in profit from consumption of mobile Internet that resulted of growing number of users of 4.5G network, the company said.
In the second quarter of 2018, the active subscriber base of the lifecell operator decreased by 12.8% on an annual basis, to 6.8 million subscribers.
Active three month ARPU (average revenue per user per month) increased by 27.3% by this period and amounted to UAH 53.1.
Capital investment in April-June totalled UAH 350 million that is 78.8% less year-over-year.
The penetration of smartphones in the operator’s network at the end of the second quarter was 73%.
Lifecell is the third largest mobile operator in Ukraine.

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NET PROFIT OF UKRAINIAN BANKS SKYROCKETS IN H1

The net profit of solvent banks in Ukraine in January-June 2019 amounted to UAH 31 billion, which is 3.7 times more than in the same period last year (UAH 8.3 billion), the NBU said on its Facebook page.
The NBU pointed to three factors of growth in bank profits: a 20% increase in net interest income of banks, to UAH 39 billion, a growth in net commission income by 17%, to UAH 21 billion, and a positive result from revaluation and from transactions on currency sale and purchase – UAH 10.4 billion.
According to the NBU, there were 76 operating banks in Ukraine as of July 1, 2019.

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NET PROFIT OF ING BANK IN UKRAINE UP BY 71%

The net profit of ING Bank Ukraine in January-June 2019 amounted to UAH 366.478 million, which is 71.3% more than in the same period in 2018 (UAH 213.894 million), the bank reported in a statement published on its website.
Net interest income of the bank for the first six months of this year increased by 13.6% compared with the corresponding period last year, to UAH 526.102 million.
Its assets since the beginning of the year decreased by 2.4%, to UAH 10.684 billion, loans to customers by 24.8%, to UAH 6.418 billion.
The bank’s liabilities from the beginning of this year have decreased by 1.8%, to UAH 6.742 billion.
Charter capital in the first half of the year remained at the level of UAH 731.298 million, while net worth was down by 3.5%, to UAH 3.942 billion.
ING Bank Ukraine was founded in 1997. By January 1, 2019, its sole shareholder was ING Bank N.V.
ING Bank Ukraine ranked 21st among 77 operating Ukrainian banks as of April 1, 2019 in terms of net assets (UAH 11.347 billion), according to the NBU.

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UKRZALIZNYTSIA REPAIRS OVER 50 ELECTRIC AND 19 DIESEL TRAINS IN H1

PJSC Ukrzaliznytsia in the first half of 2019 repaired 45 electric trains and 18 diesel trains at their depots, while six electric trains and one diesel train were overhauled.
As a press service of the enterprise reported on Wednesday, by the end of 2019 the Ukrzaliznytsia is going to repair another 50 electric train sets and 15 diesel train sets.
As reported, Ukrzaliznytsia plans to launch a pilot project to upgrade commuter trains in Zaporizhia and Dnipropetrovsk regions, asking Kyivpastrans to allocate UAH 500 million for their renewal.

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UKREXIMBANK’S NET PROFIT IN H1 GROWS BY 27%

Kyiv-based state-owned Ukreximbank’s net profit in January-June 2019 amounted to UAH 862.153 million, which is 27% more than for the same period in 2018 (UAH 679.127 million), the bank said in a statement on its website.
According to the report, the bank’s net interest income for the first half of 2019 decreased by 10.5% compared to the corresponding period last year, to UAH 1.003 billion, while commission income increased by 13.7%, to UAH 530.914 million.
Assets since the beginning of 2019 have shrunk by 6.2%, to UAH 151.661 billion, loans issued to customers decreased by 7.5% to UAH 67.008 billion.
Bank liabilities from the beginning of this year decreased by 6.3%, to UAH 143.582 billion.
The bank’s charter capital in the first half of the year remained at UAH 38.730 billion, while its total equity capital decreased by 4.3%, to UAH 8.078 billion.
Ukreximbank, wholly owned by the state, was created in 1992.
It ranked third among 77 banks operating in the country in terms of total assets (UAH 232.798 billion) as of April 1, 2019, according to the National Bank of Ukraine.

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