Public joint-stock company Raiffeisen Bank Aval (Kyiv) saw a 17% rise in net profit in 2017, reaching UAH 4.469 million.
According to an announcement on holding a general meeting of shareholders on April 27, 2018, a copy of which has been forwarded to Interfax-Ukraine, the bank’s assets last year grew by 18.4%, to UAH 66.297 billion, including UAH 36.845 million of loans issued to clients, taking into account reserves (31.6% up year-over-year), UAH 5.727 billion in investment securities (2.7% up), UAH 10.297 billion of cash and its equivalents (0.04% up) and UAH 13.428 billion of other assets (14% down).
The draft decision of the meeting envisages sending UAH 4.244 billion of net profit for 2017 to pay dividends to holders of ordinary shares.
The shareholders also plan to change the type of the company from public one to private JSC, approve the supervisory board with the following members: Martin Gruell (head of the supervisory board), Andriy Stepanenko (deputy head), Joseph Eberle, Harald Kröger, Robert Fritz, Andreea Moraru, Anna Derevyanko, Pavlo Sheremeta and Daniel Bilak (the three last one are independent members).
Raiffeisen Bank Aval was founded in 1992. As of June 30, 2017, Raiffeisen Bank International (RBI, Austria) owned 68.28% of the Ukrainian bank’s charter capital, while the European Bank for Reconstruction and Development (EBRD) held 30%.
Raiffeisen Bank Aval ranked fifth in terms of assets worth UAH 72.108 billion among 84 operating banks as of January 1, 2018, according to the National Bank of Ukraine.
Ukraine has joined the Global Beneficial Ownership Register, Deputy Justice Minister of Ukraine on European Integration Serhiy Petukhov has said.
The Ministry of Justice of Ukraine has implemented the provisions of 2009/101/EC Directive on disclosure of information by companies, which ensured information transparency of the activities of legal entities and disclosure of data on the ultimate beneficiaries in the Unified State Register, Petukhov said at a briefing in Kyiv on Tuesday.
“Thus, Ukraine has become the first country to join the Global Beneficial Ownership Register,” the press service of the Justice Ministry quoted Petukhov as saying on Tuesday.
Public joint-stock company Tavria Vintage Cognac House (Kherson region) saw UAH 31.12 million of net profit in 2017, which is 56.5% less than a year ago (UAH 71.66 million).
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market on holding a general meeting of its shareholders on April 27, its assets last year grew UAH 2.294 billion from UAH 2.087 billion in 2016. Undistributed profit at the end of 2017 was UAH 499.88 million, which is 6.6% more than in 2016 (UAH 468.77 million). Noncurrent liabilities slightly grew, accounting for UAH 559.86 million and current liabilities rose by 14%, to UAH 1.177 billion.
Tavria Vintage Cognac House is one of the largest wineries in Ukraine. The following brands of cognac are made at Tavria Vintage Cognac House: Tavria, Borisfen, Georgievskiy, Jatone and ALeXX. Its own raw materials supply base includes 1,400 hectares of vineyards.
The United Nations Development Program (UNDP) will transfer its long-term contracts for medicine procurement to the national procurement agency after its creation. UNDP Coordinator Zafar Yuldashev told Interfax-Ukraine that at present, the international organization has around 20 agreements signed with medicine manufacturers.
“At the stage of the transfer of medicine procurement from international organizations to the respective national agency, we also plan to transfer long-term contracts, but the necessary condition for this transfer is the legislative possibility of signing and conducting procurement under these contracts by the newly established procurement agency,” he said.
The expert said that long-term contracts make it possible to simplify the procurement procedure and allow the manufacturer to plan production of the required quantities of medicines by the approved deadline.
“As a result, the period between the announcement of procurement and the direct delivery of medicines to patients is reduced to a minimum, and these contracts allow providing reasonable prices and saving budget funds, as the manufacturer can more efficiently plan the purchase of raw materials and loading of production facilities,” he said.
Commenting on the opportunities for lower prices for budget procurement of medicines, Yuldashev said that “competition is the key to price reduction and a global trend, including in developed countries, as well as the increase in the share of generic drugs in procurement, which makes it possible to use the allocated funds more efficiently on procurement of medical products.”
He recalled that “UNDP has strict quality criteria and procures only those drugs, the quality of which is undoubted and that meets international criteria.”
“These drugs can be both originate and generic. Thanks to the lower price, generic drugs often allow more treatment to be available for more patients,” he said.
As reported, the UNDP signed long-term contracts with four international manufacturers – Teva Pharmaceuticals (Israel), Pfizer (Netherlands), Novo Nordisk (Denmark) and Sanofi Genzyme (France) – for the supply of 11 drugs, including medicines for rare diseases such as multiple sclerosis, Gaucher’s disease, mucopolysaccharides, cystic fibrosis, other orphan diseases, hemophilia, as well as medicines to stop bleeding.
Kyiv is preparing to meet this autumn the participants in the 56th Congress of the World Boxing Council (WBC), which will be held in Ukraine for the first time, Kyiv Mayor Vitali Klitschko has said.
“From September 30 to October 5, 2018, the Ukrainian capital will bring together the stars of the world professional boxing, the presidents of federations from the WBC member countries, promoters, judges, and sports functionaries,” Klitschko said.
Kyiv City State Administration noted that more than 600 congress participants from more than 100 countries would visit the capital. In addition to official meetings and exchange of experience, the organizers also promise an interesting program with informal communication and charitable events. They also plan to acquaint participants and guests of the congress with Ukrainian culture and traditions and show them real Ukrainian hospitality.
“This event will take place in our country for the first time. We are preparing to hold the event at the highest level and represent Kyiv and Ukraine with dignity,” Klitschko added.
