Shareholders of PJSC “Production Association “Stalkanat” (Odessa) again approved the payment of dividends in the amount of 65 million 728.374 thousand UAH on the basis of 0.63 UAH per share from undistributed profits for part of 2022.
This decision was taken by the extraordinary general meeting of shareholders on December 2, 2022.
Dividend payment period – from February 6, 2023 to June 2, 2023.
Earlier, it was reported that shareholders of PrJSC “Production Association “Stalkanat” several times decided to direct the payment of dividends 65 million 728.374 thousand UAH on the basis of 0.63 UAH per share of undistributed profits for part of 2022.
PJSC Stalkanat produces steel and caprone wire ropes and hardware products.
As was reported, the general meeting of shareholders, which took place on September 3, 2021, decided to separate Stalkanat-Silur PJSC and create a new company – Stalkanat PJSC – with the transfer of its property, rights and obligations according to the approved distributive balance sheet.
Sergey Lavrinenko, general director of Stalkanat-Silur, explained earlier to Interfax-Ukraine agency that all shares of Stalkanat-Silur CJSC are distributed among all shareholders of Stalkanat-Silur CJSC. The shareholders agreed to spin off Stalkanat company, to which the Odesa industrial site will be transferred. In its turn, Stalkanat-Silur PJSC will also remain on its balance sheet as Silur, which is located in the temporarily uncontrolled territory (Khartsyzsk, Donetsk Region).
PA Stalkanat-Silur PJSC previously had two branches – in Odessa and in Khartsyzsk, Donetsk region, on the NKT. On December 1, 2016, the company’s management officially notified about the shutdown of the company’s branch in Khartsyzsk – the relevant announcement was published in the Uryadovy Kurier newspaper. Later, the management of PAO Stalkanat-Silur PJSC stated about the seizure of the company’s branch in Khartsyzsk on the NKT, sent a corresponding statement to the National Police.
According to the NDU, as of the fourth quarter of 2021, David Nemirovskyy (Ukraine) has 50.0001% of the company, Anton Mikhalenko – 23.7%, and Edery Liron (both Israel) – 23.1%.
The registered capital of Stalkanat-Silur is UAH 26.083 mln.
The National Bank of Ukraine (NBU) will again keep the discount rate at 25% at its December 8 meeting, most bankers surveyed by Interfax-Ukraine on Wednesday forecast.
“I am confident that the National Bank will decide on December 8 to keep the discount rate at the current level of 25%, as there is no reason either to raise or to lower it. Following October’s results, inflation accelerated somewhat, but remains within the NBU’s forecasted trajectory. In any case, the level of the discount rate has no direct impact on the inflation processes at the moment,” Ivan Svitek, chairman of the board at Unex Bank, said.
According to him, the increase in consumer prices is mainly provoked by logistical constraints and the destruction of production facilities. Consequently, a further increase in the discount rate will not be able to significantly affect inflation.
“On the other hand, the NBU is also unlikely to lower the rate in the current environment. The monetary transmission effect, which the regulator was counting on by raising the rate to the current level, has not been exhausted yet,” he added.
Svitek noted that the increase in interest rates on deposits of individuals continues and somewhat accelerated in December due to the revision of the profitability of deposits by major players, but now to achieve the goal set by the regulator does not make sense to reduce the discount rate this month.
Konstantin Khvedchuk, strategic development analyst at Pivdennyi Bank, also predicts that the discount rate will remain at 25%.
“While inflation continues to approach 30% y/y and inflation expectations are kept high, it is necessary for the NBU to ensure a comparable value of hryvnia resources in the economy. Therefore, decisions will be made to accelerate a preliminary change of the discount rate to market rates, for example, increase of reserve requirements or issue of term deposit certificates,” he said.
His opinion is shared by Alexey Blinov, head of Sense Bank’s analytical department, who also expects the discount rate to remain at the current level.
Nikolay Voytkiv, director of the Risk Management Department of Accordbank, made the same forecast.
“We do not expect changes in the discount rate, as there were no significant changes in the macro environment over the past month. There is stabilization in the exchange rate, while inflation expectations remain high,” he pointed out.
He added that at the same time, the regulator is likely to reduce the interest rates on certificates of deposit (currently 23% per annum) and their maturity in order to encourage banks to invest in OVDPs.
“The discount rate will remain unchanged in the medium term. Firstly, there are no prerequisites for its revision, as the inflation rate remains high. Second, the NBU has given a guideline that it will not revise it until the first quarter of 2024,” OTP Bank head Volodymyr Mudryy pointed out.
Oksana Shveda, deputy chairman of Credit Dnipro bank, reminded that the Monetary Committee’s tasks include not only the discount rate, but also decisions regarding stimulation of monetary instruments to reach the target. Therefore, according to her, there is a possibility that the NBU will announce decisions on the mandatory reserve requirement rate, which will include current or term accounts in all currencies, at the meeting on 8 December.
The European Commission on Wednesday proposed to introduce another – ninth – package of sanctions against Russia, which should include a ban on transactions with three Russian banks and other measures.
According to a statement from EC Chairwoman Ursula von der Leyen, the EU executive body proposes as part of the new package of measures to include about 200 more individuals in the sanctions lists, to introduce a ban on transactions with three Russian banks, including the All-Russian Bank of Regions Development, as well as the broadcasting of four Russian media channels.
Von der Leyen’s proposals also include a ban on the export of unmanned aerial vehicles to Russia. In addition, the EC wants to impose new export restrictions, in particular on dual-use goods – “key chemicals, neuroparalytic substances, electronics and IT components.
One insurance company voluntarily left the Ukrainian insurance market in November 2022 and six more insurers – compulsorily, with one insurance broker included in the register, according to the website of the National Bank of Ukraine (NBU).
Overall, the number of participants in the non-banking financial market in November decreased from 1572 (as of October 31) to 1522 (as of November 30).
As of November 30, there were 117 non-life insurers (there were 124 in October) and 13 life insurers (the number remained unchanged), 187 pawnshops (190), 166 credit unions (173), 806 financial companies (839), 63 insurance brokers (62) and 67 collection companies (the number remained unchanged).
The NBU also notes that 21 financial companies, one insurer, one pawnshop and six credit unions had their licenses revoked voluntarily (on the basis of applications submitted by them) and 17 financial companies, seven insurers and three pawnshops had their licenses revoked involuntarily (as a coercive measure).
In addition, six financial companies had part of their licenses revoked voluntarily, and five financial companies and one insurer had part of their licenses revoked involuntarily.
In November, the licenses of three financial companies and one leasing company were suspended. At the same time, licenses have been renewed for 15 financial companies and six pawnshops.
The number of banks has not changed and amounts to 67.
In addition, 24 banking groups and 23 non-banking financial groups are recognized in the market.
There are 38 national payment systems, including the state ones, and 16 international payment systems are operating in the payment market.
In November, the NBU received 403 registration and license applications from the market participants. The number of requests on financial companies, pawnshops and lessors was 267. The number of requests on credit institutions (banks and credit unions) was 53, on insurers – 74, on payment institutions – nine.
The European Bank for Reconstruction and Development (EBRD) may lend state-owned Ukreximbank up to EUR50 million to finance private corporate clients and municipalities in Ukraine affected by the war.
“The loan will provide Ukreximbank with much-needed medium-term financing during wartime and will allow the bank to support its private corporate clients and municipalities using its strategic focus, proven experience in corporate lending to critical sectors and strong regional presence,” the bank said in a statement Wednesday.
According to it, the project will be supported by donors: EUR25 million of first-loss risk coverage will be provided by the EBRD’s Special Crisis Response Fund as part of the EBRD’s special Ukraine War Response Package.
Ukreximbank was founded in 1992. The sole owner of the financial institution is the state.
According to the National Bank of Ukraine, as of July 1, 2022 Ukreximbank in terms of total assets ranked third (228.608 billion UAH) among 68 operating banks in the country, or about 10% of total assets of the banking system.
The bank has 51 branches across the country and two representative offices in London and New York.
The world’s leading marketing companies are worsening their forecasts for the growth of the advertising market on fears of a downturn in the global economy, writes The Wall Street Journal.
Global advertising revenue will increase 4.8% in 2023 to $833 billion, Magna, a Mediabrands company, forecast. In June, the company expected growth of 6.3%.
In 2022, Magna expects growth of 6.6%, mainly due to heavy campaign spending in the U.S. In June, analysts predicted a 9.2% jump in revenue.
“The economy is slowing more than expected six months ago,” said Magna Executive President Vincent Letang. – “We have lowered our forecasts for virtually all advertising categories for next year, but we still expect the market to stabilize rather than contract.
Experts predict that in consumer products and financial services, advertising budgets next year will remain about the same as this year, while spending on entertainment, travel and gambling advertising may increase due to the easing of regulatory requirements. They also expect a recovery in advertising spending in the automotive sector.
Another forecast from GroupM, a conglomerate of WPP PLC, expects ad spending to grow 5.9% in 2023 versus the 6.4% expected in June. In 2022, GroupM predicts advertising spending, excluding political campaigns, will increase 6.5%, up from 8.4% in June.
“Perhaps we’re feeling some slowdown at the end of this year and are feeling a little more pessimistic, even though we still expect growth, especially in digital advertising,” said GroupM director Kate Scott-Dawkins.
