In January-September 2023, Grave Ukraine Life Insurance (Kyiv) collected UAH 286.5 million in net premiums, which is 10.3% more than in the same period of 2022.
According to the company’s report in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its gross written premiums for the period amounted to UAH 334.6 million, which is 10.8% more than in the first nine months of 2022. UAH 48.154 million (+13.8%) was ceded for reinsurance.
For the first nine months, the company paid UAH 110.904 million, which is 29.4% more than in the same period last year.
The company’s administrative expenses amounted to UAH 30.299 million (+34.6%), and sales expenses amounted to UAH 126.9 million (+76.5%).
The financial result before tax amounted to UAH 50.769 million, which is 5.4 times more than in the first nine months of the previous year.
Net profit amounted to UAH 40.021 million (almost 10 times more).
As reported, Grave Ukraine Life Insurance and Grave Ukraine Insurance Company are part of the Grave Ukraine Financial Group, the ultimate beneficiary of which is GRAWE-Vermögensverwaltung (Austria).
In January-September this year, Metinvest Mining and Metallurgical Group, including its associates and joint ventures, paid almost UAH 11 billion in taxes and duties to the budgets of all levels in Ukraine.
According to the company’s press release on Thursday, despite Russia’s full-scale invasion of Ukraine, Rinat Akhmetov’s Metinvest remains the backbone of the country’s economy.
Metinvest’s Ukrainian enterprises paid UAH 2.8 billion in income tax, UAH 2.4 billion in unified social tax and UAH 2.3 billion in personal income tax in January-September this year. At the same time, Metinvest increased its land payments by 4% year-on-year to UAH 893 million in the first nine months of the year, up to UAH 1.5 billion.
Subsoil use fees (UAH 1.5 billion) and environmental tax (UAH 449 million) became significant sources of revenues for the state and local budgets of Ukraine.
In the third quarter of 2023, the Group transferred UAH 4.6 billion to the Ukrainian budget, which is 15% more than in the same period last year.
In particular, in July-September, Metinvest’s enterprises increased their income tax payments by 28% compared to July-September 2022, to UAH 1.7 billion. Over the same period, unified social tax payments increased by 8% compared to the third quarter of 2022, to UAH 847 million. And the payment of personal income tax increased by 12% compared to July-September 2022 to UAH 818 million.
In addition, in the third quarter of 2023, the group’s companies paid UAH 618 million for subsoil use, up 2% year-on-year. At the same time, land payments for July-September this year increased by 9% to UAH 304 million compared to the same period in 2022, and environmental tax increased by 24% to UAH 146 million.
Yuriy Ryzhenkov, CEO of Metinvest, noted that at the beginning of the great war, Metinvest faced serious challenges, which the group continues to overcome.
“We had to rebuild our business, create new supply chains for exporting products and change our operating model. All these steps helped the company to survive and remain one of the largest taxpayers in Ukraine. We want to help Ukrainians, the country and the army, just as we have taken care of our employees and residents of the regions where we operate. That is why we continue to work for victory in all areas,” the top manager was quoted as saying.
As reported earlier, Metinvest, including its associates and joint ventures, paid more than UAH 2.5 billion in taxes and fees to the budgets of all levels in Ukraine in January-March 2023, more than UAH 6.3 billion in the first half of 2023, and UAH 20.5 billion in 2022.
“Metinvest is a vertically integrated group of steel and mining companies. The Group’s enterprises are mainly located in Donetsk, Luhansk, Zaporizhzhia and Dnipro regions.
The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.
Deputy Minister of Foreign Affairs of Ukraine Yevhen Perebyinis accepted copies of credentials from newly appointed Ambassador of the Czech Republic to Ukraine Radek Pech.
As reported on the website of the Ministry of Foreign Affairs of Ukraine, Perebyinis highly appreciated the intensification of the political and sectoral dialogue between Ukraine and the Czech Republic, and also expressed gratitude for the Czech Republic’s continued support for the sovereignty and territorial integrity of Ukraine.
The Deputy Minister thanked the Czech side for its active participation in promoting Ukraine’s foreign policy initiatives, in particular the implementation of the Peace Formula provisions, support for the Black Sea Grain Initiative, the creation of legal mechanisms for bringing to justice those responsible for Russian war crimes and further strengthening of sanctions pressure on the aggressor country.
Particular attention was paid to issues of European and Euro-Atlantic integration of Ukraine.
The net profit of state-owned PrivatBank (Kyiv) in January-September 2023 amounted to UAH 43.37 billion, which is 3 times higher than the same period in 2022, according to the bank’s unconsolidated report for the third quarter.
According to the report, the state-owned bank’s net profit for the third quarter amounted to UAH 13.62 billion, which is UAH 0.082 billion less than in the second quarter, and at the same time UAH 6.08 billion more than in the same period last year.
According to the report, PrivatBank’s net interest income increased by 64.5% year-on-year to UAH 43.18 billion in January-September 2023, including a 40.7% increase to UAH 15.32 billion in the third quarter, which is UAH 1.2 billion less than in the second quarter of this year.
Net fee and commission income for the first nine months of this year increased by 25% to UAH 17.45 billion compared to the results of 2022. However, in the third quarter, this figure was 1.5% lower than in April-June this year, but 1.3% higher than in the third quarter of 2022 – UAH 5.81 billion.
A significant contribution to the improvement of the bank’s financial result was made by a decrease in the loss from impairment for the first nine months of this year to UAH 0.072 billion, while in the same period last year this figure was UAH 17.34 billion. According to the report, in July-September, the bank even made a profit of UAH 0.697 billion under this item, compared to UAH 0.051 billion in the previous quarter and UAH 9.73 billion in the third quarter of last year.
PrivatBank also reports that its total profit for January-September this year reached UAH 49.52 billion, 3.5 times higher than in the comparable period of 2022. However, in the third quarter of 2023, the total profit decreased by 42% compared to the second quarter and amounted to UAH 13.63 billion, exceeding the total profit for the third quarter of 2022 by 43%.
According to the report, in 9M2023, the bank’s assets increased by 12%, reaching UAH 605.26 billion as of September 30.
This growth is explained by the increase in the amount of funds with the NBU from UAH 11.46 billion to UAH 59.32 billion, funds on correspondent accounts and overnight deposits with banks: in Ukraine, they amounted to UAH 2 million for this period (data for 2022 are not available), in the countries of the Organization for Economic Cooperation and Development (OECD) – from UAH 58.1 billion in 2022 to UAH 75.22 billion as of September 30, 2023.
As for loans and advances to customers, they grew by 32% to UAH 89.82 billion in January-September this year. On the contrary, loans and advances to banks decreased by 10.7% to UAH 93.81 billion since December 2022, including UAH 93.14 billion in NBU certificates of deposit (CDs) and UAH 0.67 billion in escrow with the NBU. At the same time, UAH 55.5 billion of these are CDs at 16%, UAH 26.3 billion are CDs at 22%, and UAH 10 billion are CDs at 25%.
The loan portfolio of legal entities grew by 15.8%, including repurchase agreements to UAH 2.87 billion (no data for 2022). The largest increase in the retail portfolio was recorded in credit card loans (+16.8%), consumer loans (+94.5%), and car loans (up 2 times).
Finance lease loans and receivables increased from UAH 167.93 billion to UAH 169.35 billion. Overall, financial leasing receivables decreased significantly in all segments, both for individuals and legal entities, as well as for small and medium-sized businesses and enterprises.
At the same time, investments in securities decreased slightly for the first time this year, from UAH 239.75 billion to UAH 239.18 billion.
In the first nine months of 2023, PrivatBank’s customer accounts increased from UAH 471.97 billion to UAH 509.94 billion, and equity increased from UAH 57.79 billion to UAH 83.11 billion.
The provision for expected credit losses increased from UAH 174.35 billion in 2022 to UAH 182.41 billion in September this year.
According to the National Bank of Ukraine, as of September 1, 2013, PrivatBank is the leader in total assets (UAH 642.3 billion) among 64 operating banks in the country and ranks third in terms of the number of branches – 1131.
On November 16, Brussels will host the Kyiv Investment Forum 2023, which this year will focus “on long-term strategies for the sustainable recovery and development of the Ukrainian capital, as well as its integration into the global economic space,” the press service of the Kyiv City State Administration (KCSA) reports.
“The forum will take place on November 16 in Brussels and will bring together city leaders, European and Ukrainian politicians, leading economists, investors and urbanists,” the KCSA said on Wednesday, citing the Department of Economics and Investments, which is organizing the event.
The forum’s main session will reportedly focus on Europe’s changing geopolitical landscape and the growing importance of megacities. Participants will examine the challenges of conflict and war, emphasize the value of sustainable development and the recovery of war-affected communities. It will include four panel discussions and two sections on challenges and problems in both wartime and post-war.
The Forum will also include a panel discussion on investments in transformation, including business ecosystems and innovation clusters.
“A separate discussion will be devoted to restoring the mental health of the population, social integration and adaptation of veterans and people affected by wars
The American Chamber of Commerce in Ukraine and member company Sayenko Kharenko are delighted to invite you to join our traditional Blood Donation Day.
During these challenging times of the full-scale war in Ukraine, the need for life-saving blood donations has never been more critical. Each drop of blood donated can make a significant difference and help save lives.
Join us and encourage your colleagues, friends, and relatives to participate.
Please follow all the rules and recommendations to get prepared for donating blood.
Please take your passport and identification code with you. Citizens of other countries can also be donors if they have a residence permit in Ukraine and an identity document.
*DonorUA is an automated social platform for recruiting and managing blood donors designed to promote the blood donor movement in Ukraine.
Due to security reasons, venue details will be provided one day in advance. The location has an underground shelter.
Mark your calendars for a meaningful and impactful event – AmCham Ukraine Blood Donation Day!
Our team can’t wait to see you on November 10.
