KYIV. May 10 (Interfax-Ukraine) – The net profit of Kredobank (Kyiv) in January-March 2017 amounted to UAH 101.414 million, which is 52.3% more compared to the corresponding period of 2016, according to the financial statements published on the bank’s website.
According to the document, Kredobank’s net interest income for the first three months increased by 14.6% compared to the corresponding period last year, to UAH 249.057 million. Excluding expenses for formation of reserves, net interest income amounted to UAH 215.158 million, or 9.5% more than in the first quarter of last year.
The bank also increased net commission income by 44.1%, to UAH 81.864 million.
Administrative and other operating expenses amounted to UAH 190.976 million, which is 36.4% more than a year earlier.
The balance sheet for January-March remained almost unchanged and by the end of the reporting period was UAH 11.175 billion.
The portfolio of loans and advance payments issued to customers increased by 7.1%, to UAH 5.989 billion, the deposit portfolio was up by 3.2%, to UAH 8.438 billion.
KYIV. May 10 (Interfax-Ukraine) – The Ukrainian Automobile Corporation (UkrAVTO) at the end of April supplied two first low-deck medium class city buses ZAZ10C out of 11 foreseen in the contract to Warbus (Poland), the press service of the corporation reported on Friday.
Buses made by Zaporizhia Automobile Plant (ZAZ) after their presentation to city authorities are used in the streets of Oborniki (Poland).
“Warbus company from Poland that bought the buses offered the optimal cost per kilometer of exploitation thanks to the price and quality ratio of the Ukrainian products,” the press service said.
The corporation said that funds from the Ukrainian national budget are spent to buy buses made in Russia.
“The importance of the contract signed with the Ukrainian bus manufacturer cannot be overestimated, as the optimal cost was not the only parameter: safety requirements, comfort options for passengers and meeting tough environment standards of the European Union were also taken into consideration,” the press service said.
The cost of the contract and tender participants are not disclosed.
KYIV. May 10 (Interfax-Ukraine) – The decision of the European Parliament to increase the tariff rate quotas for Ukrainian agricultural products would allow additionally receiving around $200 million in sales volumes, Ukraine’s Agricultural Policy and Food Ministry has reported.
“The decision to increase the Ukrainian food quotas it important for us and would allow expanding our exports opportunities. Ukraine would gain around $200 million in sales volumes,” Minister Taras Kutoviy said.
He said that the decision of the Committee on International Trade (INTA) of the European Parliament not to increase the quotas for imports of Ukrainian wheat, tomatoes and urea is an interim stage. The European Parliament and the Council of Ministers of the EU will discuss the issue.
The minister expects that the final decision for the quotas will be made by late May.
KYIV. May 10 (Interfax-Ukraine) – Public joint-stock company Ukrzaliznytsia saw UAH 12.8 million of net profit in January-March 2017, while a year ago its net loss stood at almost UAH 2 billion, the company’s press service reported, referring to a consolidated report.
Net sales income over the period totaled almost UAH 18 billion (21.5% up year-over-year).
Financial costs fell by 21%, to UAH 909.9 million. Financial revenue almost quadrupled, to UAH 18.5 million.
“The financial policy of the public joint-stock company allowed boosting stocks and cutting noncurrent and current liabilities, which influence the general financial figures. In addition, a share of short-term liabilities is falling, giving better financial stability to the company in the medium term outlook,” the company said.
Earlier according to a company report posted in the information disclosure system of the National Commission for Securities and the Stock Market, its net profit was almost UAH 48 million.
Ukrzaliznytsia told Interfax-Ukraine that the difference between the figures is linked to the fact that the earlier published report did not include indicators of some private joint-stock company incorporated in the company and affiliated companies.
KYIV. May 10 (Interfax-Ukraine) – U.S. venture fund General Catalyst has invested $110 million in IT company with Ukrainian roots Grammarly.
Bloomberg has reported that the startup makes software that underlines awkward words and phrases in the user’s writing and makes suggestions, similar to a feature in Microsoft Word.
“The software tailors the tone and word choice of personal or professional writing for the 6.9 million people using the tool daily, many of whom interact with the service through a web browser extension for Google Chrome,” Bloomberg said.
According to a website of the company, Grammarly has offices in San Francisco, New York and Kyiv.
