This week, the Ministry of Digital Transformation (Mintsifr) added four new issues of military domestic government bonds (OVDPs) with maturity dates from April 2025 to June 2026 to Diia, traditionally naming them after the occupied cities, towns and territories in Ukraine.
In particular, the bonds are “Sudak” with a nominal rate of 16.24% per annum and a maturity date of April 30, 2025, “Gurzuf” – 15.25% and June 4, 2025, “Lazurne” – 14.72% and September 10, 2025, “Dzharylgach” – 15.47% and June 10, 2026.
The Ministry of Digital Transformation reminded that with the addition of new securities, the total number of them in Diia has increased to 11. Now you can also buy there issues maturing on November 20, 2024 (Askania Nova), January 15, 2025 (Simferopol), March 12, 2025 (Makiivka), June 18, 2025 (Yevpatoria), July 23, 2025 (Dzhankoy), October 15, 2025 (Kerch) and January 28, 2026 (Bakhchisarai).
The intermediaries are the state-owned Sens Bank (formerly Alfa-Bank) and Ukrgasbank, as well as ICU, bond.ua and Kinto.
As of September 6, there were UAH 1 trillion 677.30 billion worth of domestic government bonds in circulation. The largest portion is held by commercial banks (UAH 742.74 billion) and the NBU (UAH 677.60 billion), while legal entities and individuals hold UAH 166.46 billion and UAH 63.52 billion, non-residents UAH 26.22 billion, and territorial communities UAH 0.76 billion, respectively.
Since the beginning of the year, individuals have increased their investments in domestic government bonds by UAH 11.89 billion, while their total volume in circulation has increased by UAH 105.67 billion. According to the Settlement Center, there were almost 193 thousand investors in Ukraine as of September 1 this year, compared to 166.1 thousand at the beginning of the year.
The National Bank clarified that in January-August this year, the government of Ukraine raised almost UAH 319 billion in equivalent from the placement of domestic government bonds at auctions: UAH 232.96 billion, $1 billion 456.6 million and EUR670.8 million. UAH 133.94 billion, $1 billion 126.6 million, and EUR 841.2 million were allocated to redeem previously issued bonds during this period.
Thus, the state budget for the first eight months of this year was financed by UAH 105.20 billion in domestic government bonds, including UAH 9.11 billion in August.
At the latest primary auctions on September 3, the Ministry of Finance maintained the placement rate for one-year hryvnia bonds at 14.65% and raised the rate for two-year securities to 15.6% and for three-year securities to 16.6%-16.9% per annum.
The government has launched the Ukrainian market for explosives and detonators by canceling most permits and licenses and simplifying procedures, said Deputy Prime Minister for Innovation, Education, Science and Technology Development and Minister of Digital Transformation Mykhailo Fedorov.
“We are opening the domestic market for explosives and detonators – the government has decided to scale up the production of ammunition,” he wrote on his Telegram channel on Friday.
According to the Deputy Prime Minister, the production of Ukrainian ammunition currently depends on the import of explosives and detonators. At the same time, Ukraine has its own potential for developing this sector, so the market needs to be stimulated and better conditions for manufacturers created.
“To increase the volume and accelerate the production of Ukrainian ammunition, we are killing all the bureaucracy for manufacturers. Companies will be able to produce, buy and import explosives and components without permits and licenses,” Fedorov wrote.
He clarified that it currently takes at least 12-18 months to complete the paperwork to start producing explosives. It takes about six months to obtain a waste management license alone, and another three months to obtain a permit for waste operations.
There are about 10 different bureaucratic documents to be processed.
As a result of the changes envisaged by the government’s resolution, the process of launching production could be reduced to one month, Fedorov said.
He noted that earlier, the markets for drones, robots, electronic warfare, and ammunition were opened in a similar way, which led to results on the battlefield.
In January-June 2024, ALC Insurance Company ARX Life (ARX Life, Kyiv) collected insurance premiums in the amount of UAH 168.235 million, which is 10.6% more than in the same period a year earlier, according to the website of RA Standard Rating, which updated the company’s credit rating/financial strength (reliability) rating at uaAAA on the national scale.
The volume of payments and reimbursements made by the insurer in the first half of the year decreased by 0.89% to UAH 31.534 million. Thus, the insurer’s claims ratio decreased by 2.17 percentage points to 18.74%.
In January-June 2024, the company’s acquisition expenses decreased by 6.46% to UAH 88.782 million compared to the same period in 2023.
During the reporting period, the company increased its net profit to UAH 43.936 million, or 51.16% of its figure for the first half of 2023.
As of July 1, 2024, the insurer’s assets increased by 18.67% to UAH 338.346 million, equity – by 20.75% to UAH 255.709 million, liabilities – by 12.66% to UAH 82.637 million, and cash and cash equivalents increased by 82.56% to UAH 72.027 million.
Thus, as of the beginning of the second half of 2024, the company had a high level of capitalization (309.44%), as well as the level of coverage of its liabilities by cash and cash equivalents (87.16%).
At the same time, RA notes that as of July 1, 2024, the insurer made financial investments in the amount of UAH 254.827 million. They consisted of government bonds and government bonds (98.11%) and deposits in banks (1.89%).
ARX Life is part of the international insurance holding Fairfax Financial Holdings Ltd. ARX Life is among the top ten companies in the life insurance market in Ukraine.
At the same time, banks’ profits increased by 22% Almost UAH 120 billion was earned by Ukrainian banks in 7 months of 2024, according to the NBU. Net profit after tax amounted to UAH 93 billion. Income tax is also growing along with earnings. Thus, this year, financial institutions have already paid 1.8 times more income tax than last year. Privat accounts for 40% of the profit of all banks, and the MTB has grown the most – by as much as 13 times.
Banks in Ukraine made a total of UAH 119.44 billion in profit. This is 22% more than in the same period last year: UAH 97.53 billion.
This year, the amount of income tax increased by 1.8 times to UAH 25.83 billion. Despite the tax increase, net profit is still 13% higher than last year: UAH 93.61 billion compared to UAH 83.18 billion last year.
Alpari Bank withdrew its license of its own free will in June, so there are now 62 banks operating in Ukraine. 8 of them suffered losses.
The top 10 banks in Ukraine currently account for 86% of the total profit: UAH 80.13 billion.
State-owned banks
State-owned banks account for 63% of the total profit of all banks. Privat is a stable leader: UAH 37.16 billion of profit after tax. This is 8% more than last year.
Privat accounts for 40% of the total profit of all banks in the country. The bank’s tax expenses increased 1.5 times and amounted to UAH 12.13 billion.
In total, 5 out of 6 state-owned banks earned a total profit of UAH 58.84 billion during this period, and tax expenses amounted to UAH 14.6 billion.
Banks with foreign capital
Banks with foreign capital earned UAH 21.5 billion. This is 9% more than in the same period last year. The profit tax of banks in this group increased 1.7 times this year and reached UAH 7.26 billion. They currently account for 23% of the total profit of all banks.
Raiffeisen Bank remained the leader of this group: UAH 4.87 billion. This is 28% more than in the same period last year. Raiffeisen Bank’s tax expenses doubled to UAH 1.63 billion.
Banks with private capital
The total profit of banks with private capital increased by 29% to UAH 13.39 billion. Accordingly, taxes doubled to UAH 3.95 billion. Currently, this group of banks accounts for 14% of the total profit.
FUIB is the leader of the group with UAH 4.24 billion. At the same time, MTB Bank showed the largest increase among all banks in the country: by 13 times, up to UAH 539.8 million.
As a reminder, the Verkhovna Rada is currently considering draft law No. 11416-d, which proposes to introduce a 50% income tax for banks in 2024.
President of Ukraine Volodymyr Zelenskyy has appointed Oleksandr Kamyshyn as an advisor to the President of Ukraine on strategic issues.
This is enshrined in Decree No. 623/2024 of September 8, which was published on the President’s website.
Earlier it was reported that on September 4, the Verkhovna Rada dismissed Kamyshyn, the Minister for Strategic Industries, from his post. Kamyshyn was appointed to this position in March 2023, and before that, in 2021-2023, he was the chairman of the board of Ukrzaliznytsia JSC.
The Ukrainian real estate marketplace DIM.RIA analyzed how the Ukrainian real estate market has changed as of the end of summer 2024. The analytical study includes the state of the primary and secondary housing sales market, the state of the rental market, and the behavior of Ukrainians looking for apartments.
Primary market
Supply.
As of the end of August 2024, sales departments in 77% of new buildings were active. Since the beginning of the summer, 23 new buildings with 72 sections have been commissioned in Ukraine: 6 in Kyiv and Lviv regions, 5 in Ivano-Frankivsk region, 2 in Dnipropetrovs’k and Odesa regions, and one in Zhytomyr and Khmelnytsky regions.
Prices
The average price per square meter in dollar terms slightly decreased in almost every region of Ukraine in August, but year-on-year growth was observed in half of the regions. Analysts noted the most rapid price growth in Kirovohrad, Ivano-Frankivsk, Chernivtsi, Volyn and Cherkasy regions. Kyiv remains the most expensive in the primary market with an average price of $1,338 per m².
Demand
In August, DIM.RIA analysts noted a significant revival of interest in primary housing among users from all regions, but the downward trend in activity continued on a yearly basis. It bypassed only the Kyiv region, where users made one and a half times more search queries compared to August 2023, and the Zhytomyr region, where searches also increased slightly.
Secondary market
Supply.
In the secondary housing market, the number of offers increased the most during the year in Kyiv, Ivano-Frankivsk and Zaporizhzhia regions, while in most other regions it decreased, sometimes by more than 50% (Kharkiv and Sumy regions). Also, much fewer owners began to offer their homes for sale in Dnipropetrovska, Odesa and Zaporizka oblasts: the number of ads there decreased by 37-47% during the year.
Price
In August 2024, the sale price of a one-bedroom apartment fluctuated in most regions within a few percent, while it mostly increased compared to the data for August 2023. Volyn, Chernivtsi, and Ivano-Frankivsk regions showed the highest growth. Kyiv remains the most expensive city: owners in the capital ask an average of $85,845 for a one-bedroom apartment.
Looking at the capital in more detail, Pecherskyi district remains the most expensive with an average price of a one-bedroom apartment of $110,969, while the lowest price is reported by homeowners in Desnianskyi district – $48,487.
Interest
In August, users’ interest in secondary housing revived in most regions, with the largest increase in search queries occurring in Odesa and Lviv regions. However, in comparison with the current and last year’s situation, all regions began to receive fewer search queries for the purchase of housing. Kherson and Sumy regions lost the largest percentage of buyers, and Ivano-Frankivsk, Cherkasy, Kirovohrad, Volyn, Chernivtsi, and Lviv regions experienced a significant decline in interest: from -40% to -46%.
Despite the decline in search queries, the number of user reviews everywhere exceeds the number of ads posted. The five regions where demand exceeds supply the most are Volyn, Ternopil, Vinnytsia, Chernivtsi, and Zhytomyr, where there are an average of 12-23 responses per new ad. The largest number of ads and responses to them is in the capital, but there is almost no gap between supply and demand there.
Rental market
Supply.
In the rental market, the number of housing offers in Volyn, Ivano-Frankivsk, Lviv, and Zakarpattia regions increased by one and a half to two times compared to August of the previous year. At the same time, analysts noted a decline in the number of housing in the central regions, including Kyiv.
Price
Kyiv remains the most expensive location for renting an apartment with an average price tag of UAH 18,205 for a one-bedroom apartment. Over the past month, housing prices in the capital rose by 1%, and over the past year, the increase was 18%. Prices are also rising in other regions, most actively in Zhytomyr, Volyn, and Rivne regions (from +39% to +114% over the year).
The capital allows you to choose more affordable housing depending on the district. The lowest prices can be found in the Desnianskyi district, with an average of UAH 10,293 for a one-bedroom apartment, while the most expensive is the Shevchenkivskyi district with an average monthly rent of UAH 23,408.
Interest
In August, users were more active in searching for housing in Lviv, Odesa, Dnipropetrovs’k, Ternopil, Ivano-Frankivsk regions and in the capital. The number of searches there increased from +12% to +44%.
The ratio of the number of rental ads to the number of responses to them in August in Kyiv was 1:9. At the same time, in the Kyiv region, excluding Kyiv, there were an average of 18 user responses per new ad. Odesa, Khmelnytskyi, Vinnytsia and Ternopil regions also stood out for their high demand relative to supply.
