Net profit of Credit Agricole Bank (Kyiv) amounted to UAH 4.09 billion last year, which is 46.5% or UAH 1.44 billion more than in 2023, the press service of the financial institution reports.
“Crédit Agricole Bank’s net profit for the year amounted to UAH 4.1 billion after taxes at the increased rate of 50% (…) The bank’s financial results demonstrate sustainable development dynamics, disciplined risk management, and customer confidence,” the press release says.
It is noted that Credit Agricole’s net banking income for 2024 reached UAH 9.25 billion, which is 4.9% more than last year.
According to the press release, this is due to the growth of net interest income by 3.9% compared to 2023 to UAH 8.17 billion and increase of the deposit base by 10.9% to UAH 100.1 billion.
It is specified that corporate deposits increased by 9.3% to UAH 79.14 billion, and retail deposits by 17.2% to UAH 20.95 billion.
At the same time, the bank’s fee and commission income decreased by 5.6% to UAH 706 million.
The volume of loans and advances to customers remained almost unchanged in 2024, remaining at UAH 28.16 billion. Loans to businesses in Credit Agricole decreased by 2.8% to UAH 23.60 billion, while loans to individuals increased by 20.6% to UAH 4.55 billion.
“Credit Agricole has strengthened its position as a leader in car lending with a 28% market share in Ukraine. In 2024, the bank disbursed new car loans in the amount of UAH 3.3 billion, which is 50% more than in the previous year, outpacing the market growth rate of 40%,” the press service of the bank noted.
Last year, the bank’s assets increased by 12.9% to UAH 116.93 billion, while liabilities grew by 9.7% to UAH 103.75 billion. Agricole’s operating expenses increased by 11.7% to UAH 2.68 billion.
Zaporizhzhia Ferroalloy Plant (ZZF) increased its output by 35.2% in 2024 compared to 2023, up to 26.80 thousand tons from 19.82 thousand tons.
According to the Ukrainian Association of Ferroalloy Producers (UkrFA), in 2024, ZZF increased its production of silicomanganese sixfold to 23.08 thousand tons from 3.87 thousand tons, but reduced ferrosilicon to 0.12 thousand tons from 10.49 thousand tons, and ferromanganese to 3.6 thousand tons from 5.43 thousand tons.
At the same time, the company did not produce metal manganese, while in 2023 it produced 0.03 thousand tons.
ZZF is one of the three main Ukrainian producers of this product.
As reported, Pokrovsky Mining and Processing Plant (PGOK, formerly Ordzhonikidze Mining and Processing Plant) and Marganetsky Mining and Processing Plant (MGOK, both in Dnipropetrovska oblast), both part of Privat Group, stopped mining and processing crude manganese ore in late October and early November 2023, while NGOK and Zaporizhzhya Ferroalloy Plant (ZZF) suspended smelting. Later, the ferroalloy companies resumed operations at a minimum level of production. In particular, ZZF has been operating two furnaces at 7% capacity since May 1, 2024, and NFP has also been operating since the end of June last year.
Before the nationalization, the business of ZZF, NFP, Stakhanovsky ZF (which is on tubing), Pokrovske (formerly Ordzhonikidze) and Marganetsky Ore Mining and Processing Plants was organized by PrivatBank.
The net profit of state-owned PrivatBank, Ukraine’s largest bank, amounted to UAH 40.141 billion in 2024, up 6% from 2023, the bank said at a briefing in Kyiv on Tuesday.
“Net interest income increased by 12% to UAH 66.89 billion, net commission income by 14% to UAH 27.77 billion,” said Larysa Chernysheva, Deputy Chairman of the Board and CFO, Interfax-Ukraine.
She clarified that the results are preliminary and should be confirmed by an audit, which is expected in March.
According to her, after the audit, the bank will allocate 80% of its net profit for dividends for 2024, which will tentatively amount to UAH 32.113 billion, compared to UAH 30.211 billion last year.
Chernysheva specified that pre-tax profit in 2024 increased by 11.3% to UAH 81.004 billion, while operating expenses increased by 8% to UAH 21.32 billion.
“In 2024, the bank will pay over UAH 40.9 billion in income tax, which has a direct positive effect on the country’s macroeconomic stability,” Deputy Minister of Finance Yuriy Draganchuk emphasized during the briefing.
Since the beginning of last year, Privat’s net loan portfolio has increased by UAH 20.7 billion to UAH 112.8 billion. Funds on customer accounts increased by more than 10% during this time, bringing deposits and balances to UAH 621.6 billion.
PrivatBank ended last year with assets of UAH 761.7 billion, which, according to the National Bank of Ukraine, is 13.4% less than the bank’s total assets as of January 1, 2024, which amounted to UAH 879.8 billion.
The financial institution reported that operating expenses increased by 8% compared to 2023, which is lower than annual inflation.
The bank estimates its active client base at 18.32 million individuals and 910 thousand business clients in 2024. The number of users of the Privat24 mobile application amounted to 13.76 million people.
According to Privat, the bank’s branch network consisted of 1163 outlets at the end of 2024, while at the beginning of last year, according to NBU statistics, it had 1132 outlets.
The financial institution’s infrastructure includes 6.86 thousand ATMs and 10.42 thousand terminals. At the same time, the number of Privat’s POS terminals amounted to more than 316 thousand at the end of 2024.
On February 11, the state enterprise “NAEK Energoatom” (Kiev) announced its intention to conclude with IC “VUSO” the contract of compulsory insurance of motor liability of owners of land vehicles (MTPL).
As reported in the system of electronic public procurement Prozorro, the price offer of IC “VUSO” amounted to UAH 559.534 thousand at an expected cost of UAH 1.591 million.
IC “European Insurance Alliance” with the offer of UAH 559,535 mln and IC “Guardian” – UAH 970,8 th. are also participating in the tender.
IC “VUSO” was founded in 2001. The company owns 50 licenses: 34 – for voluntary and 16 – for compulsory types of insurance, is represented in all regions of Ukraine. It is a member of the Motor (Transport) Insurance Bureau of Ukraine (MTSBU), the League of Insurance Organizations of Ukraine and a member of the Nuclear Insurance Pool.
US President Donald Trump has confirmed that Treasury Secretary Scott Bessent will arrive in Ukraine.
“I am sending Treasury Secretary Scott Bessent to Ukraine to meet with President Zelensky. This war must and will end soon – too much death and destruction,” he wrote on Truth Social.
Earlier, Bloomberg reported that U.S. Treasury Secretary Scott Bessent intends to visit Ukraine this week as part of initial talks to secure U.S. access to critical minerals. Bessent may become the first member of US President Donald Trump’s team to visit Ukraine.
Earlier, the president said that his administration wants to conclude an agreement with Ukraine on access to resources in exchange for help in its defense against Russian invasion.
Ukraine’s President Volodymyr Zelenskiy told reporters in Kyiv earlier on Monday that he plans to meet with people from the Trump administration in Ukraine before the Munich Security Conference.
