Business news from Ukraine

Business news from Ukraine

Alfa Bank (Ukraine) changes its name on December 1

Alfa-Bank (Ukraine) (Kiev) will change its legal name to Sense Bank JSC starting from December 1 due to abandonment of Alfa brand by the financial institution’s board because of the start of full-scale invasion of Ukraine by Russia, the bank’s press service said.
As noted, customers do not need to re-sign documents, renew contracts, order new certificates of contract status from Alfa Bank and change cards with the logo “Alfa”. All of the above will continue to be valid.
In addition, the details of the contract will remain unchanged.
As noted earlier in an interview with Interfax-Ukraine, former Bulgarian Finance Minister Simeon Dyankov, who in mid-April by agreement with the National Bank was given the right to vote on the majority stake in Alfa-Bank (Ukraine), the board of financial institutions has decided to abandon the brand “Alfa” and continue to work under a new brand. A meeting of shareholders approved the renaming on August 12.
“When the board was deciding on the new brand, the decision became obvious. For the last two years our priority is the development of digital bank Sense SuperApp”, – explained the choice of the new brand the head of the bank Alla Komisarenko.
The National Bank of Ukraine (NBU) approved the renaming on September 24, 2022.
The net loss of the bank in January-July 2022 amounted to UAH 3.52 billion. The financial results were affected by the UAH 8.357 bln allocations to reserves.
According to the NBU, by July 1, 2022, Alfa-Bank (Ukraine) took 7th place by its total assets (112.67 bln hryvnia) among 68 operating banks in the country.

IAEA to increase number of its staff at Ukrainian nuclear power plants

The IAEA will increase the number of its staff at Ukrainian nuclear power plants, the international organization’s director general Raphael Grossi said Tuesday.
“I have also confirmed that the IAEA will increase its presence at all nuclear power plants in Ukraine to ensure the protection of the energy infrastructure,” Grossi wrote on Twitter.
In addition, he said he met with Ukrainian Foreign Minister Dmitry Kuleba.
“We will continue to work together to urgently create a nuclear safety zone around the Zaporizhzhya NPP,” Grossi added, posting a photo with Kuleba.

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The President of Ukraine proposes to hold the World Exhibition in Odessa

President of Ukraine Volodymyr Zelensky, speaking via video link at the 17th General Assembly of the International Exhibitions Bureau, proposed to hold the International Exhibition in 2030 in Odessa.

“I am honored to represent the Ukrainian candidacy for the World Expo in 2030. To represent Odessa – and therefore the entire Black Sea region. Why Odessa, Ukraine and the Black Sea? This year Ukraine has become a global example of courage. And billions of people for all continents have seen what Ukrainian invincibility means and why Russian terror will not achieve its goal. And they will see how Ukraine will become a model of restoration,” Zelensky said.

Sweden to Provide Ukraine with New Package of Military Assistance

Swedish Prime Minister Magdalena Andersson said on Monday that Sweden will provide another SEK500 million ($46.75 million) in military aid to Ukraine to help it defend itself against a Russian invasion, Reuters reported on Tuesday.
After talks with Ukrainian Foreign Minister Dmitry Kuleba, Andersson told reporters that her government would give Ukraine an additional SEK1 billion aid package – both military and civilian. She did not give details of the military package, but said it would be similar to previous aid, which, according to the newspaper, included anti-tank weapons, personal protective equipment and demining equipment.
“We will continue to support Ukraine while the war is going on,” Andersson said.
The civilian portion of the package will include purchases of Ukrainian wheat, which will be given to food-insecure countries and help boost Ukraine’s economy.
The report noted that during the meeting, Kuleba urged Sweden to provide Ukraine with howitzers and shells. “While the war is going on, we will ask for more weapons… Every euro, every bullet, every shell counts,” he told reporters.

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Ukraine’s insurance market shrank by 7 more companies

The National Bank of Ukraine by its decision of November 25 canceled insurance licenses of IC Krona due to the absence of insurer licenses and excluded the company and six more insurers from the State Register of Financial Institutions.
As reported on the website of the insurer, PrJSC IC “Arma”, ALC IC “Benefit”, ALC IC “Dobrobut and Zakhist”, PJSC “Europolis”, ALC IC “Kastodi”, JSC “IC “Mega-Garant” are excluded from the State Register of financial institutions due to the cancellation of all existing licenses to provide financial services based on the decisions of the National Bank of Ukraine 2022 as an action.
As reported, on September 30, 2022 the NBU has authorized “IC Krona” to cease insurance activities (without termination of legal entity). According to the latest accounts submitted by the company for the nine months of 2022, as of September 30, 2022 the amount of insurance premiums of the company has amounted to UAH 23 393,0 ths, the value of assets – UAH 59 435,92 ths, insurance reserves – UAH 0,0 ths. The market share of the company by insurance premiums amounted to 0,1%.
PrJSC IC “Arma” had 25 licenses to provide financial services in insurance. During the 9 months of 2022, as of September 30, 2022 the insurance premiums of the company have amounted to UAH 79,140 mln, assets – UAH 177,804 mln, insurance reserves – UAH 4,279 mln. The market share of the company on insurance premiums amounted to 0,3%.
ALC IC Benefit had 31 licenses for the activity on the provision of financial services in insurance. According to the last submitted statements for the 9 months of 2022, the volume of insurance premiums of the company has amounted to UAH 1,817 mln, asset value – UAH 37,750 mln, insurance reserves – UAH 412,8 th. The market share of the company by insurance premiums amounted to 0,0%.
ALC IC “Dobrobut and Zakhist” had 22 licenses for activity on providing financial services in insurance. During the 9 months of 2022, as of September 30, 2022 the volume of insurance premiums of the company has amounted to UAH 202,544 mln, assets – UAH 98,313 mln, insurance reserves – UAH 3043 mln. The market share of the company on insurance premiums amounted to 0,8%.
Private JSC “PT “Europolis” had 11 licenses, during the 9 months of 2022 the volume of insurance premiums of the company has amounted to UAH 8 324,0 ths, the value of assets – UAH 60 042 ths, insurance reserves – UAH 1 994 ths. The Company’s market share in insurance premiums was 0,03%.
ALC IC KASTODI had 10 licenses, during the 9 months of 2022 the Company’s insurance premiums have amounted to UAH 284,046 mln, the value of assets – UAH 137,584 mln, insurance reserves – UAH 10, 698 mln. The company’s market share on insurance premiums amounted to 1,2%.
JSC IC MEGA-GARANT had 23 licenses for providing financial services in insurance. According to the last submitted accounts for 6 months of 2022, as of June 30, 2022 the volume of insurance premiums of the company was UAH 50 558,5 thousand, assets – UAH 199,43 million, insurance reserves – UAH 115,744 million. The market share of the company on insurance premiums amounted to 0,27%.
After exclusion from the State Register of financial institutions, these insurers lose the status of a financial institution, the report noted

Odessa customs announced tender for MTPL

Odessa Customs announced a tender for compulsory motor third party liability insurance for owners of hired vehicles on November 28, the electronic state procurement system Prozorro reports.
The expected cost is 48.3 thousand UAH.
Tender documents will be accepted until December 6 inclusive.

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