Business news from Ukraine

Business news from Ukraine

SHOW-PROGRAM «THE WORLD OF HORSES»

On January, 30 and 31 the «Kyivan Rus Park» invites to make an exciting time travel into the Middle Ages and visit the show-program «The World of horses».
The guests will see the horses of the unique historical breeds. The visitors will learn a lot of interesting things about the origin and characteristics of breeds. The horses can be palmed, ridden on a horseback.
The guests will plunge into the life of the medieval city, will see the defensive structures, the mansions of the Kyiv residents of the Х-ХII cc., the Basyl`s church, will visit the expositions of the siege technique and shipbuilding.
Ancient Kyiv opens at 10:00. The program starts at 13:00.
The ticket price: a full adult ticket – 200 UAH, for pensioners and students – 150 UAH, for schoolchildren – 80 UAH, for preschool children – free.
Ancient Kyiv in the «Kyivan Rus Park» is located in Kyiv region, Obukhiv district, the vill. Kopachiv.
Details on the website www.parkkyivrus.com
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for a full price adult ticket to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 29/01/21

National bank of Ukraine’s official rates as of 29/01/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JANUARY 29

Official rates of banking metals from national bank as of January 29

One troy ounce=31.10 grams

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UKRAINE INTERNATIONAL AIRLINES PLANS TO RESUME FLIGHTS TO TBILISI

Ukraine International Airlines (UIA) plans to resume flights to Tbilisi from January 31, and SkyUp Airlines from February 4, 2021.
Currently, there are no direct flights between the capitals of Ukraine and Georgia, Georgia plans to remove restrictions on international scheduled flights from February 1, 2021.
As noted in the UIA message on Thursday, after the official lifting of restrictions on air travel by the Georgian authorities, communication with Tbilisi by UIA flights will be possible twice a week: on Fridays and Sundays, with a return to Kyiv every Saturday and Monday.
In the future, from March 1, 2021, UIA expects to increase the number of flights in this direction to four flights per week.
SkyUp Airlines plans to launch flights Kyiv-Tbilisi from February 4 and Kyiv-Batumi from February 9.

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STATE-OWNED OSCHADBANK INCREASES NET PROFIT BY ABOUT 10 TIMES

The state-owned Oschadbank, according to preliminary results (without corrections and before the audit), in 2020 received a net profit of UAH 2.8 billion compared to UAH 277 million in 2019, the bank said on Friday.
“Since 2016, the bank has continued to operate profitably. The return on equity [RoE] of the bank at the end of 2020 is 13.8% and significantly exceeds the corresponding result in 2019 [some 1.3%],” the document said.
At the same time, Oschadbank said that the results of 2020 were significantly affected by creating reserves in accordance with international financial reporting standards (IFRS 9), due to negative forecasts for the activities of certain sectors of the economy. “These forecasts are caused by the application of adaptive and full quarantine restrictions in the fight against the coronavirus [COVID-19] pandemic, as well as the current slowdown in business activity,” Oschadbank said.
Over the nine months of 2020, it posted a net profit of UAH 4.74 billion, which is 25 times higher than this indicator for the same period in 2019 (some UAH 189 million). The bank’s net interest income for the three quarters of last year increased by 35.4%, to UAH 5.67 billion, and the net commission income by 8.4%, to UAH 3.24 billion.
According to the report, the net interest income of Oschadbank as a whole for 2020 increased by UAH 2.5 billion, or by 45.4%, to about UAH 8 billion, mainly due to a decrease in interest expenses due to cheaper funding.
The financial institution indicated a significant increase in the fixed-term resource base last year more than UAH 9 billion (10%), including on deposits of individuals UAH 4.9 billion, and on deposits of business entities UAH 4.3 billion.
The loan portfolio for the year decreased by 3%, to UAH 63.2 billion, the press release said.
Among the achievements of last year, Oschadbank singled out a decrease in the level of non-performing loans (loans overdue more than 90 days) from 49% to 24%. During the year, it was possible to restructure loans totaling UAH 16.4 billion, in cases of non-performing loans, the courts issued verdicts in favor of Oschadbank in the amount of UAH 3.9 billion, of which it managed to return UAH 2.8 billion, the financial institution said.
The message also indicates that as of the end of 2020, Oschadbank’s equity capital was UAH 22 billion, and the capital adequacy ratio was 19%, while the National Bank’s standard was 10%.
The financial institution also indicated that in 2020 it paid UAH 3.4 billion in taxes, fees and mandatory payments to the state budget.
Oschadbank was founded in 1991. Its sole owner is the state.
According to the National Bank of Ukraine, as of October 1, 2020, Oschadbank ranked second (UAH 266.29 billion) among 74 banks operating in the country in terms of total assets.

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PRESIDENT OF UKRAINE: THIS YEAR UKRAINIANS WILL BE ABLE TO GET AFFORDABLE MORTGAGE AT 7%

President of Ukraine Volodymyr Zelensky has reported on the fulfillment of his election promise: this year Ukrainians will be able to get an affordable mortgage for housing at 7%.

“We promised to do everything in the program to make young Ukrainian families have a headache from just one question: what to choose – an apartment in the city or a country house,” the head of state recalled in a video message posted on his Facebook page on Friday morning. He noted that an important step has been taken this week on the way to this – the mortgage available for Ukrainians was launched at 7% per annum.

He noted that an important step has been taken this week on the way to this – the mortgage available for Ukrainians was launched at 7% per annum.

“I think this is a great victory. When someone tells you that in his time the indicators in the country were higher, he is not lying in this sense. Because two years ago the average mortgage rate in Ukraine was 21%. Now it will be seven. And already this year, Ukrainians – and, by the way, this applies not only to young families, but also to all our citizens – and so, this year they will be able to get an affordable mortgage for housing at 7%,” Zelensky said.

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