OTP Bank (Kyiv) has signed a loan agreement with Concern Khlibprom PJSC, part of OKKO Group, for UAH 200 million for a three-year period to replenish working capital, the financial institution said in a release on Monday.
“Financing of food industry enterprises is currently one of the priority areas for the development of OTP Bank’s corporate business. The agreement with Concern Khlibprom is another confirmation of the successful implementation of this strategy,” Alla Biniashvili, a member of the Management Board of OTP Bank, said in the statement.
There is no information on the cost of the loan and its other terms.
According to the release, Concern Khlkbprom is one of the largest enterprises in the Ukrainian bread market, producing over 160 tons of bread, bakery, confectionery, and semi-finished dough and coffee products daily. The company’s structure includes five production units with a total staff of over 3000 employees.
In particular, the company’s products are represented on the Ukrainian and international markets by such brands as Agrola, Vinnytsiakhlib, Bandinelli, TM 2GO, Grill & Bakery, and Ljubljana. Khlibprom also owns its own coffee brand Harmony Sentivi.
“In 2022, Concern Khlibprom increased its net profit by 23.7% to UAH 21.1 million on revenue growth of 15.4% to UAH 1 billion 702.1 million, and its assets grew by 8.4% to UAH 920.3 million. Long-term liabilities increased by 1.2% to UAH 270.2 million, while current liabilities increased by 16.5% to UAH 327.7 million.
Effective interest rates on hryvnia loans ranged from 13.31% to 15.95% at the beginning of this year.
OTP Bank, a wholly owned subsidiary of the Hungarian OTP Bank Plc, was 10th among 63 Ukrainian banks in terms of total assets (UAH 103.14 billion) as of the beginning of October 2023.
Polish carriers have ended the blockade of the Dorohusk-Yahodyn checkpoint, and truck traffic is moving as usual, the State Border Guard Service reports.
“Today at 2 p.m., the protest action of Polish carriers in front of the Dorohusk-Yagodyn checkpoint ended. Registration and passage of trucks across the border in both directions is carried out as usual,” the State Border Guard Service said in a statement posted on its telegram channel on Monday.
Drivers are asked to take this information into account when planning international transportation.
According to the State Customs Service, as of now, there are 1,000 trucks in line to enter Ukraine, 0 buses, 100 trucks to leave Ukraine, 473 trucks in the electronic queue, and 0 buses.
Key indicators of state budget (monthly), UAH bln
Source: Open4Business.com.ua and experts.news
Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy of Ukraine, and Peter Kmec, Vice Prime Minister for Recovery, Resilience and Use of European Funds of Slovakia, discussed the possibility of oil supplies through the Odesa-Brody pipeline.
“We discussed the situation at border crossings, bilateral trade, industrial cooperation, and energy. We are inspired by the implemented project to supply oil through Ukraine to Slovakia through the port terminal and pipeline from Odesa,” Svyrydenko wrote on Twitter (X).
According to her, Ukraine is also interested in providing Slovakia with natural gas storage services in its underground storage facilities (UGS).
As part of the Ukrainian delegation’s visit, Ukrtransnafta CEO Volodymyr Tsependa met with a representative of the operator of the Slovak section of the Druzhba pipeline, Transpetrol’s Chairman of the Board of Directors Martin Ruzhynsky.
According to the Ukrainian operator, the parties summarized the results of cooperation in 2023 and discussed plans for organizing transportation work for the next year.
“The results of the year demonstrate well-coordinated cooperation with our European partners. We want to maintain this result in the future, so we discussed all issues related to oil transportation in 2024, in particular, the modes of pumping through the Druzhba pipeline,” Cependa said in a statement.
The state-owned Ukrgasbank has started issuing mortgage loans for housing in the primary real estate market under the eOselya program, the bank’s press service reports.
According to the report, the first partner of the bank is the developer Fedorchenko Construction Production and Commercial Company LLC with a facility in Sumy.
Since the launch of the state program “eHouse”, Ukrgasbank has issued loans for UAH 2.2 billion to 1.3 thousand families.
As reported, the eHouse affordable mortgage lending program was launched in Ukraine in October 2022. Contract servicemen of the Armed Forces of Ukraine, employees of the security and defense sector, healthcare workers, teachers, and scientists can apply for a preferential mortgage at 3% per annum for up to 20 years with a down payment of 20% of the cost of housing.
Starting from August 1, war veterans, combatants, IDPs and citizens who do not have their own housing larger than the standard area can apply for the eHouse program at a 7% interest rate.
Seven partner banks participate in the eHouse program: Oschadbank, PrivatBank, Ukrgasbank, Globus Bank, Sky Bank, Ukreximbank and Sens Bank. You can apply for participation in the program using the Diia mobile application.
At the end of 2022, the government capitalized Ukrfinzhytlo by UAH 30 billion through the issuance of domestic government bonds. According to Deputy Prime Minister and Minister of Economy Yulia Svyrydenko, this funding is enough to issue 12-15 thousand mortgages in 2023.
At the end of April, the Ministry of Economy, as the sole shareholder of Ukrfinzhytl, approved repo transactions with these government bonds for up to a year in the amount of UAH 15 billion. Later it was reported that the rate on these transactions could be up to 20% per annum, while the government bonds themselves were issued for up to five years at a rate of 19.5% per annum.
Dynamics of exchange rate of hryvnia to U.S. Dollar in 2022-2023
Source: Open4Business.com.ua and experts.news
