Business news from Ukraine

Business news from Ukraine

Forbes has published its ranking of business champion banks: OTP Bank is among top three

OTP Bank has been ranked among the top three business champion banks by Forbes Ukraine magazine. It took second place in terms of efficiency and stability.
The article calls OTP BANK a model of balance in key ranking indicators. “Restrained growth, no excessive liquidity, which is typical for many banks with foreign capital, but top-three efficiency and good stability,” the Forbes article notes.
In particular, OTP Bank was included in the list of banking institutions with assets exceeding $1 billion, where it ranked third. The magazine’s analytical department also compiled a list of the “Second League” – leaders among banks with less than $1 billion in assets.
In total, the magazine’s rating includes the 20 largest and most efficient banks in Ukraine. Their activities were analyzed based on an integrated indicator of efficiency (profitability), dynamics, stability, and liquidity. As stated in the article, the main task was to find out which bankers had built (or rebuilt) a high-quality banking business during three years of full-scale war. The material is available in the print version of the magazine No. 2 (35), April-May 2025.
As a reminder, in March, OTP BANK was among the top five leaders in the bank stability rating according to the Minfin portal.

 

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Ukrainians’ attitude towards Uzbekistan: restrained interest with predominance of neutrality

Most Ukrainians do not have a strong opinion about Uzbekistan, according to the results of a nationwide sociological survey conducted by Active Group in collaboration with the Experts Club analytical center in April 2025.

According to the survey, 63.4% of respondents chose a neutral position towards this country. 21.7% of Ukrainians are positively disposed, including 16.3% who are mostly positive and 5.4% who are completely positive. At the same time, 9.3% of respondents have a negative attitude: 7.9% are mostly negative, and 1.5% are completely negative. Another 5.6% of Ukrainians were unable to decide on an answer.

“Ukrainians mostly perceive Uzbekistan without strong emotions, which is typical for countries with which there are no close political or informational ties. At the same time, part of the population sees positive aspects in interaction with this country,” notes Maksim Urakin, candidate of economic sciences and founder of the Experts Club information and analytical center.

The presentation of the study is available at the link.

 

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Naftogaz increased tax payments to ₴30.3 bln in four months

In January-April 2025, Naftogaz Group companies paid ₴30.3 billion in taxes, which is more than in the same period of 2024, when ₴28.4 billion was paid.

“In April 2025, ₴7.1 billion was paid. Of this amount, the group transferred ₴6.4 billion to the state budget and ₴692 million to local budgets,” the company said on Monday.

As emphasized by Naftogaz CEO Roman Chumak, the group’s enterprises demonstrate stable tax payment dynamics, contributing to the country’s financial stability.

“Since the beginning of the year, the group has provided 7.6% of all tax revenues to the budget,” he said.

As reported, the net profit of the Naftogaz group for 2024 amounted to almost UAH 38 billion. According to last year’s results, the group’s enterprises paid UAH 88.6 billion in taxes to the general budget, of which UAH 81.8 billion went to the state budget and UAH 6.8 billion to local budgets.

In addition, Naftogaz of Ukraine paid UAH 15.7 billion in dividends to the state in 2024.

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Ukrainians’ attitude towards Turkmenistan: almost equal balance between positive and negative, neutrality prevails

Ukrainians demonstrate a restrained and divided attitude towards Turkmenistan. This is evidenced by the results of a nationwide sociological survey conducted by Active Group in cooperation with the Experts Club analytical center in April 2025.

According to the survey, 61.3% of Ukrainians said they had a neutral attitude toward this Central Asian country. Those with a positive attitude (16.3%) and a negative attitude (16.4%) were almost equally divided. In particular, 10.8% of respondents consider it mostly positive, and 5.4% consider it completely positive. On the other hand, 13.3% of respondents expressed a mostly negative attitude, and 3.2% — completely negative.

Another 6% were unable to give a definite answer.

“Attitudes toward Turkmenistan in Ukraine are in a ‘gray zone’ — citizens generally do not have deep knowledge about this country. That is why we are seeing such a high level of neutrality and very limited emotional polarization,” commented Maksim Urakin, founder of the Experts Club analytical center.

The presentation of the study is available at the link.

 

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State budget financing, % of GDP

State budget financing, % of GDP

Source: Open4Business.com.ua

Spain introduces fines of half million euros for illegal rental of housing

The Spanish authorities are tightening control over the short-term rental market in popular resorts such as Mallorca, Menorca, and Ibiza.

The essence of the new rules

The maximum fine for illegal rentals will increase to €500,000, which is 25% more than the previous limit. At the same time, fines will be differentiated: minor violations, such as lack of registration, may result in a warning or a fine of €5,000, while systematic violations, including rentals in protected natural areas or repeat offenses, will be punishable by fines of up to €50,000–500,000.

At the same time, a freeze on new tourist rental licenses is being introduced to stop the uncontrolled growth of supply. The authorities are also offering violators an alternative: if the owner agrees to transfer the apartment or house to the state for five years for use as social housing, the fine can be reduced by 80%.

Why these measures are necessary

The Balearic Islands have been dealing with the effects of mass tourism for a few years now. Because of illegal rentals, housing prices have skyrocketed, and locals are finding it harder and harder to rent apartments in their own towns. In places such as Palma de Mallorca, Ibiza Town, and Ciutadella, residential areas are gradually being transformed into tourist zones, causing protests among the population.

In addition, the uncontrolled flow of vacationers puts a strain on transportation, utilities, and the environment. In response to these problems, the Balearic Islands government is not only tightening penalties but also expanding the powers of inspection authorities. Now, not only municipal services but also the national police, the Guardia Civil, will be involved in enforcement.

Consequences for tourists and property owners

For tourists, the new rules may mean fewer rental options, especially on platforms such as Airbnb and Booking.com, where unlicensed listings are actively removed. It is now extremely important for property owners to check the legal status of their rentals to avoid huge fines.

Will similar measures be introduced in other regions

The experience of the Balearic Islands could set a precedent for other European tourist destinations such as Barcelona, Amsterdam, and Venice, which are also experiencing tourist oversaturation and an affordable housing crisis. If strict rental controls prove effective, other countries and cities may adopt this regulatory model.

 

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