State-owned Ukreximbank (Kyiv) has issued UAH 1 billion in loans under the Affordable Loans 5-7-9% program since the start of the program, the bank’s press service said on Wednesday.
“Almost every second loan under the program is aimed at capital investments in expanding the existing business, as well as supporting promising start-ups,” the press service said, citing Head of department of medium business and municipalities Semen Puskai.
It is indicated that half of the total amount of funds under the program are anti-crisis loans at 0% to ensure financing of the working capital of enterprises.
The bank added that refinancing of previously received loans at a reduced interest rate is actively used to reduce the debt burden on business.
The British oil and gas company Enwell Energy plc (formerly Regal Petroleum) with assets in Ukraine in 2020 increased average daily hydrocarbon production by 6.5% compared to 2019, to 4,541 barrels of oil equivalent per day (boepd), the press service of Smart Energy said.
According to the company’s announced production and financial audited results for 2020, its net profit decreased by 3.8 times (by $ 9 million) compared to 2019, to $ 3.2 million, income – by 15.4% (by $ 8.6 million), to $ 47.3 million.
“During the reporting period, the company demonstrated strong financial performance despite the fact that the growth in gas production was offset by a significant decline in gas prices during the year,” the press release says.
The company also notes that despite gas prices, cash flow from operating activities in 2020 remained approximately at the same level as in the previous year – $ 23.8 million against $ 24.7 million.
The applicant for the purchase of Idea Bank (Lviv) and New Finance Service LLC (NFS, Kyiv) informed the bank and company’s parent Getin Holding S.A. (Poland) that it will not submit a binding offer to purchase them, according to a report from Getin Holding on the Warsaw Stock Exchange.
“Due to the end of the talks, the exclusivity for negotiations granted to the bidder has expired,” the holding said.
“[The Board] has decided today to continue the process of selling Idea Bank Ukraine shares and participation in NFS, while deciding to entrust Rothschild & Co with further activities aimed at selling 100% of Idea Bank Ukraine shares and 100% share in NFS, including in particular, conducting talks and negotiations with other potential investors,” Getin Holding said.
As reported, Getin Holding S.A. (Wroclaw) on February 5 signed an agreement with a Ukrainian buyer for the sale of 100% of the shares of subsidiary Idea Bank (Lviv) and 100% of the shares of NFS. According to market sources, Alfa Bank was the likely buyer of the bank, but officially this information has not been confirmed.
Idea Bank (formerly Plus Bank) was founded in 1989. According to the National Bank of Ukraine, as of January 1, 2021, Idea Bank ranked 25th in terms of total assets (UAH 7.914 billion) among 73 operating banks.
NSF is engaged in debt recovery, financial and insurance intermediation.
Earlier this week, Ukraine repaid early a short-term loan from Deutsche Bank AG London in the amount of about $350 million, attracted at the end of last year, a source in the market has told Interfax-Ukraine.
According to the source, taking into account interest, the payment reached some $354 million.
Interfax-Ukraine could not immediately reach the Ministry of Finance for confirmation of the information.
As reported, according to government resolution No. 1291 dated December 23, 2020, this is a bridge loan taken for up to six months at a rate of up to three-month LIBOR + 5.75%, which can be repaid ahead of schedule in the event of a change in the market price of Ukraine’s eurobonds or new issue on the terms determined by the loan agreement.
Early 2021, the Ministry of Finance said that in the last days of 2020 it attracted a short-term $340.7 million loan from Deutsche Bank. According to the ministry’s statistics, in December 2020, Ukraine’s debt to this creditor increased by $372.6 million, to $1.313 billion, and by the end of February 2021 it decreased to $1.272 billion.
Deputy Foreign Minister of Ukraine Vasyl Bodnar discussed with Ambassador of Spain to Ukraine Silvia Cortes Martin the preparation of the visit to Ukraine of Prime Minister of Spain Pedro Sanchez and the holding of a large-scale business forum.
“Meeting with Spanish Ambassador to Ukraine Mrs. Silvia Cortes Martin. We focused on preparing Pedro Sanchez’ visit to Ukraine and holding a large-scale business forum. We have agreed to take measures to develop the legal framework,” Bodnar wrote on Twitter on Wednesday.
He also thanked the ambassador for Spain’s support for Ukraine’s European integration path.
Mobile network operator Kyivstar has increased its 4G (LTE) network coverage in 19 regions and connected 1,195 more settlements to new mobile technologies.
According to a Wednesday report of the press service of the company, for this the operator has launched the technology of high-speed data transmission at 202 base stations.
The press service said that 493,000 residents of small settlements received the opportunity of having access to high-speed mobile Internet.
The 4G communication is supported by 23,600 Kyivstar base stations, which makes it possible for more than 87% of the Ukrainian population to access new mobile technologies.
According to the operator’s plans, by 2022, access to 4G should be provided for 90% of the population.
