In January-March 2024, FUIB (Kyiv) received UAH 2.13 billion in net profit, which is 38.1% higher than in the same period of 2023 (UAH 1.55 billion), according to the bank’s quarterly report.
According to the report, the bank’s net interest income increased significantly in the first three months of 2024: by 41% year-on-year to UAH 3.56 billion, while net fee and commission income decreased by 9.2% to UAH 0.52 billion.
Since the end of 2023, the bank’s assets have increased by 2.5%, or by UAH 3.8 billion, and reached UAH 157.1 billion as of March 31. This increase was primarily due to an increase in investments in securities by 15%, or UAH 8.7 billion, to UAH 66.9 billion, as well as an increase in loans and advances to banks by 70% to UAH 7.1 billion and to customers by 3.4% to UAH 53.8 billion, of which UAH 43.2 billion to corporate clients (including expected credit losses), UAH 10.6 billion to individuals.
It is noted that the positive impact on the increase in FUIB’s assets is also associated with an increase in the item “other financial assets” by 39% to UAH 3.6 billion, primarily due to an increase in the purchase of foreign currency from UAH 0.06 billion to UAH 1.3 billion.
The amount of cash on hand and in transit decreased by 6% to UAH 2.7 billion, while FUIB’s funds on the current account with the National Bank increased by 23% to UAH 12.3 billion.
Between January and March, the financial institution managed to increase its customer accounts from UAH 126.5 billion to UAH 129.4 billion, while the banks’ accounts increased from UAH 2.7 billion to UAH 3.4 billion.
According to the report, at the same time, FUIB’s liabilities increased from UAH 135.9 billion to UAH 137.6 billion during this period.
It is noted that the bank’s capital increased by 12.5% in the first quarter and reached UAH 19.6 billion, including retained earnings by 27% to UAH 9.9 billion.
Remuneration to the members of the bank’s Management Board increased by 24.6% year-on-year to UAH 36.9 million in the first quarter, while remuneration to the Supervisory Board increased by 43.3% to UAH 8.1 million.
JSC First Ukrainian International Bank was founded on November 20, 1991 and started its operations in April 1992. As of March 31, 2024, the bank’s shareholders were SCM Finance (92.3%) and SCM Holdings Limited (7.7%, Cyprus). The actual control over FUIB is exercised by the citizen of Ukraine Rinat Akhmetov.
According to the National Bank of Ukraine, as of March 1, 2024, FUIB ranked 6th in terms of assets (UAH 163 billion) among 63 banks operating in the country. The financial institution’s net profit for 2023 amounted to UAH 3.95 billion.
The international chain JYSK has doubled its purchases from Ukrainian producers in the first four months of 2024, according to JYSK Country Director in Ukraine Yevhen Ivanitsa.
“JYSK continues to expand its cooperation with domestic producers. In the first four months of 2024, the number of goods purchased by JYSK in Ukraine has doubled, exceeding half a million units. Very soon, European JYSK stores will be replenished with new products – two dozen items of furniture made in Ukraine,” he said on Linkedin.
Currently, there are 94 stores and the online store jysk.ua in Ukraine. The company plans to reach 100 stores by the end of 2024.
JYSK has more than 800 employees in the country.
JYSK’s revenue in the financial year 2022/23 amounted to EUR 5.2 billion.
JYSK is part of the family-owned Lars Larsen Group with more than 3.3 thousand stores in 48 countries.
Kyivstar, the largest electronic communications operator, together with Trimble, an American manufacturer of navigation systems and a leader in the agricultural industry in the areas of autonomy and smart farming using a mixed fleet of PTx Trimble machines, have created a profitable offer for Ukrainian farmers.
Starting from May and until the end of the year, when connecting an annual RTK signal package from Kyivstar, users will be able to unlock the Trimble GFX display-based autonomous driving system on agricultural machinery to the RTK level for free and receive activation of the Trimble xFill Premium service for RTK signal backup.
“There have been no similar offers on the Ukrainian market before. We understand that farmers, like other businesses, are going through difficult times. That is why we offer such special conditions that will allow them to save money and do their work even more efficiently to jointly support the Ukrainian economy,” said Ilya Poltakov, Kyivstar’s Director of New Business Development.
In agriculture, the RTK correction service is used to accurately orient and navigate machinery and helps to obtain real-time coordinates for it with an accuracy of 2.5 cm. The technology increases productivity, reduces production costs, makes it easier for drivers to work in the field, and allows for higher yields.
The offer is valid until the end of 2024, the promotional conditions are valid for one year from the date of connection. To take advantage of the special conditions, you need to contact a Trimble dealer or leave an application on the Kyivstar website.
About Kyivstar
Kyivstar is the largest Ukrainian telecommunications operator by subscribers, serving about 24 million mobile subscribers and more than 1.1 million Home Internet subscribers as of December 2023. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, RTK services for cybersecurity, digital TV, etc. Kyivstar is developing new telecom technologies in Ukraine and plans to invest USD 600 million in this area over the next three years. The company is helping the country overcome the challenges of wartime and has allocated over UAH 1.8 billion over the past two years to support the Armed Forces, subscribers, local communities, and charitable initiatives. The sole shareholder of Kyivstar is the international VEON Group headquartered in the Netherlands. The Group’s shares are listed on the NASDAQ (New York) and Euronext (Amsterdam) stock exchanges. Kyivstar has been operating in Ukraine for more than 25 years and is recognized as the largest taxpayer in the telecom market, the best employer and a socially responsible company. For more information: pr@kyivstar.net , www.kyivstar.ua
?⚡️ We invite you to participate in the conference “Europe-Poland-Ukraine: Cooperate Together”! ?
➡️ Date – May 23, 2024
➡️ Venue – Hyatt Regency, Kyiv.
Do not miss the exclusive opportunity to learn about the state and prospects of Polish-Ukrainian cooperation in the transport and logistics sector, the pharmaceutical sector, the public-private partnership segment as a tool to promote mutual investment, as well as to establish B2B contacts between Polish and Ukrainian businesses. The conference will be attended by entrepreneurs from Poland and Ukraine, representatives of non-governmental organizations, business communities, experts✅.
Registration: https://docs.google.com/forms/d/1LlPPFFplNfe_hkbAW7lNE7lMz238GQavwD2-ZbVyWqM/edit
The second national conference and exhibition “Bread Industry-2024” starts next week on May 16 in Cherkasy (Perlina Resort hotel complex), with more than 200 business representatives already confirmed their participation.
On the first day of the event, the conference participants will have four panel discussions on the challenges facing the state and agribusiness in 2024, sustainability of value chains, consumer preferences and product range, new types of products, alternative products and raw materials. The first day will culminate with the awarding of the winners of the Tasting Competition.
The second day will feature a seminar on “How to increase exports of Ukrainian value-added products?” supported by the USAID Agriculture Program. After that, three parallel excursions will be organized for the participants: CherkasyElevatorMash LLC, where a specialized session on “New Products Based on Extrusion” will be held and a demonstration and launch of a soybean processing line using Bronto equipment will be held; Cherkasy Khlib LLC – a specialized session on “What is more profitable to invest in today – technology or marketing?” and Bo Khlib LLC – a specialized session on “Is it possible to make money on a bread franchise?”
In addition, an exhibition will be open all days of the conference, which will be attended by: Cherkasy Khlib, Chift Kartal Ukraine, Buhler, CherkasyElevatorMash, Terra LLC, OLIS LLC, Production Enterprise Basis, Interkargotrak, Motorcar, Venta Lab, ASTRA PROJECT, GVP Equipment Solutions, Grantfinance, Farmet (Anatol Private Enterprise), GraMido LLC, etc.
The partners of the conference were: Cherkasy Khlib LLC, CherkasyElevatorMash, Chift Kartal Ukraine, LESAFFRE UKRAINE, OLIS, ASTRA PROJECT, Oxicom, Enzym Group, Ventalab, Interkargotrak, Motorcar.
The conference is supported by: Ministry of Economy, Ministry of Agrarian Policy, Cherkasy Military Administration, USAID Agro Program, Made in Ukraine, Ukrainian Chamber of Commerce and Industry, Ukrainian Business Council, Association of Farmers and Private Landowners of Ukraine.
For more details on the program, speakers, sponsors and conditions of participation, please follow this link.
Don’t hesitate and join the national conference and exhibition “Bread Industry 2024” before the deadline!
Interfax-Ukraine is the official media partner of the forum.
Ukrainian metallurgical enterprises increased production of rolled steel by 30.5% year-on-year to 1.973 million tons from 1.512 million tons in January-April this year, according to preliminary data.
According to Ukrmetallurgprom on Thursday, steel production increased by 32.8% y-o-y to 2.402 million tons from 1.809 million tons in January-April 2023.
Pig iron production increased by 25.1% to 2.186 million tons from 1.747 million tons.
As reported earlier, in January 2014, Ukraine increased production of total rolled products by 75.9% year-on-year to 453 thousand tons from 257 thousand tons, steel by 91.6% to 544 thousand tons from 284 thousand tons, and pig iron by 44.5% to 555 thousand tons from 384 thousand tons.
In 2M2024, rolled products output increased by 52.5% y-o-y to 900 thousand tons from 590 thousand tons, steel output by 52% to 1.076 million tons from 708 thousand tons, and pig iron output by 42.5% to 1.050 million tons from 737 thousand tons.
In 1Q2024, the company increased production of total rolled products by 35.5% to 1.389 million tons, steel by 36.6% to 1.687 million tons, and pig iron by 32.1% to 1.589 million tons.
In 2023, Ukraine increased its production of total rolled products by 0.4% compared to 2022, to 5.372 million tons, but reduced steel production by 0.6% to 6.228 million tons and pig iron by 6.1% to 6.003 million tons.
In 2022, Ukraine reduced production of total rolled products by 72% compared to 2021, to 5.350 million tons, steel by 70.7% to 6.263 million tons, and pig iron by 69.8% to 6.391 million tons.
In 2021, the company produced 21.165 million tons of pig iron (103.6% compared to 2020), 21.366 million tons of steel (103.6%), and 19.079 million tons of rolled products (103.5%).
