From the beginning of the war until the middle of May, receipts to the correspondent account of Megabank (Kharkiv) amounted to UAH 1.2 billion, Head of the Supervisory Board, Board Chairman of Megabank Oleksiy Yatsenko has said.
“As for the bank’s liquidity, there is a lot of speculation on this topic. As of February 24, the balance on the correspondent account amounted to UAH 820 million. This amount is 2.5 times higher than the required reserve ratio… Megabank was working with the liquidity reserve, which was for the period of more than two months at the beginning of the war. We were settling all transactions… By mid-May, more than UAH 2 billion in payments was settled with the UAH 820 million account. There was almost UAH 1.2 billion in receipts throughout the entire period,” he said at a press conference at Interfax-Ukraine on Wednesday.
According to him, by the middle of May, the correspondent account was almost zero and there were delays in making payments. However, by the middle of May, funds entered the accounts of customers and the bank made all payments until the decision on insolvency was made.
“On the date of the decision on insolvency … it was announced that the outstanding payments were in the amount of UAH 30 million. However, the correspondent account of the bank on that day had approximately the same amount. If Megabank had not the blocked correspondent account, by the end of the day these the funds would also have been transferred,” the banker added.
As reported, on June 2, the National Bank of Ukraine decided to declare Megabank insolvent.
According to the NBU, the main shareholders of the financial institution as of January 1, 2022 were Viktor Subbotin with 60.74% (direct and indirect participation), the European Bank for Reconstruction and Development (EBRD) with 11.3%, the German development bank KfW with 11.3% , Maksym Efimov with 9.8%, Olena Subbotina with 7.8% and the International Finance Corporation (IFC) with 4.5%.
According to the NBU, as of March 1, 2022, Megabank ranked 24th in terms of assets (UAH 11.193 billion) among 69 operating Ukrainian banks.
The agricultural holding KSG Agro in January-March 2022 increased its revenue from the sale of pigs by 3% compared to January-March 2021, to $2.58 million.
The growth in sales was caused by an increase in the number of pigs in the agrarian group over the specified period by 17.6%, to 54,500 animals from 46,400 animals, and the offspring of animals – by 28.1%, to 32,300 animals from 25,200 animals, according to a press release from the agricultural holding on Wednesday.
“It is very important for us, especially from the point of view of food security, to increase sales of products. As a result, despite the conditions of martial law, we are able to help the Armed Forces of Ukraine and the defense forces by providing them with pork and other products,” KSG Agro quotes its board chairman Serhiy Kasyanov.
The vertically integrated holding KSG Agro is engaged in pig breeding, as well as production, storage, processing and sale of grains and oilseeds. Its land bank is about 21,000 hectares.
According to the agricultural holding itself, it is among the top five pork producers in Ukraine.
The World Bank will soon provide Ukraine with a $100 million loan to help internally displaced persons (IDPs), World Bank Regional Country Director for Eastern Europe Arup Banerji has said.
He said in an interview with Interfax-Ukraine that given the acute need for central budget financing, the World Bank is currently focusing on providing quick and immediate assistance, which, in turn, can help the population, especially the most vulnerable groups of the population. First, very soon we will allocate another $100 million to help internally displaced persons, he said.
Banerji added that the World Bank continues to provide assistance in the healthcare, infrastructure and energy sectors under existing projects.
We are also exploring opportunities for cooperation with other bilateral development partners (for example, Italy, Japan and the United States) who are very interested in attracting PEACE (Project Support to Public Expenditure to Sustainable Public Administration in Ukraine) loan and funding others types of confirmed budget expenditures, the World Bank regional director noted.
Specific items have not yet been agreed, but will certainly include additional payments to internally displaced persons and other vulnerable groups in Ukraine, Arup Banerji added.
HELP, IDPS, LOAN, WORLD BANK
Transmission system operators in Continental Europe have responded positively to NPC Ukrenergo’s request to resume electricity exports from Ukraine, the company said.
“Today, the energy system of Ukraine is operating in the trial emergency synchronization mode with ENTSO-E, which means that export-import operations with European counterparties are not performed. However, both the Ukrainian and European sides are considering the possibility of a phased increase in export volumes, which would be mutually beneficial” , – reported on the Ukrenergo website on Wednesday.
National bank of Ukraine’s official rates as of 08/06/22
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of June 08
One troy ounce=31.10 grams
