The net loss of state-owned Ukreximbank (Kyiv) in 2020 amounted to UAH 5.6 billion against a net profit of UAH 63.62 million in 2019, chairman of the bank’s board Yevhen Metsger has said in a column published by the Interfax-Ukraine agency.
According to him, in the fourth quarter of 2020, the bank’s net loss amounted to UAH 3.4 billion, which is 1.5 times more than in the corresponding period of 2019 (UAH 2.21 billion).
Metsger explained that Ukreximbank entered 2020 with a number of problems, in particular, a structural deformation of the balance sheet, a weak foreign exchange position, a significant amount of overdue debt, a pool of expensive borrowings in foreign markets, which led to the formation of a loss.
According to him, these problems were caused by political factors, and in the context of the pandemic, they were intensified by macroeconomic challenges.
In addition, the banker said that the bank’s operating model was set to automatically generate losses, in particular, the volume of loan bookings regularly exceeded operating income by an average of 50%.
“And this accumulated portfolio of toxic assets caused constant pressure on the financial result. Firstly, a sufficient level of reserves was not formed for it, and secondly, it does not generate interest income for the bank. Over 2020, expenses to cover expected losses from the credit risk of non-performing assets amounted to UAH 4.3 billion,” Metsger explained.
Some 36% of Ukrainians trust Alexander Lukashenko, 26.7% – Joe Biden, 26.2% – Emmanuel Macron and 14.4% – Vladimir Putin, according to the results of a poll conducted by the Kyiv International Institute of Sociology (KIIS) from January 27 to February 1.
According to the research, President of Belarus Alexander Lukashenko, whom the EU and the U.S. do not recognize as legally elected, is trusted by 36% of respondents, distrusted – by 53.6%,there are 7.6% of those who found it difficult to answer, and 2.7% do not know. The balance of trust in Lukashenko is (-17.6%).
U.S. President Joe Biden is trusted by 26.7% of respondents, 23.3% do not trust him, 25.4% found it difficult to answer, and 24.6% do not know. The balance of trust in Biden is (+ 3.4%).
Some 26.2% of respondents trust French President Emmanuel Macron, 23.2% do not trust him, 22.9% found it difficult to answer, and 27.6% do not know. The balance of trust in Macron is (+ 3%).
Some 14.4% of respondents trust Russian President Vladimir Putin, while 79.8% do not trust him, 5.6% found it difficult to answer, and 0.3% do not know. The balance of trust in Putin is (-65.4%).
The all-Ukrainian poll was conducted by personal interviews using tablets (CAPPE). Some 1,205 respondents living in 86 settlements of all regions of Ukraine (except for the Autonomous Republic of Crimea) were interviewed according to a 3-stage stochastic sample with a quota selection at the last stage, which is representative for the population of Ukraine aged 18 and over. In Luhansk and Donetsk regions, the survey was conducted only in the territory controlled by the Ukrainian authorities.
The statistical error of the sample (with a probability of 0.95 and excluding the design effect) does not exceed: 2.9% – for indicators close to 50%, 2.5% – for indicators close to 25%, 1.9% – for indicators close to 12%, and 1.3% – for indicators close to 5%.
State-controlled Oschadbank (Kyiv) in 2020 issued 4,000 car loans for a total of UAH 1.9 billion, which is 11.8% more than in 2019 (UAH 1.7 billion), the press service of has bank has said.
The bank reportedly issues car loans for up to seven years and with a minimum advance payment of 10%.
It is indicated that Oschadbank cooperates with more than 500 dealer centers throughout the country.
According to the bank, among the cars that were purchased on credit from Oschadbank, the favorites in 2020 were Toyota, Mazda, Suzuki, Nissan, Skoda, Hyundai, Kia, Volkswagen, Mercedes, Honda, Subaru, Renault, Peugeot and Fiat.
Oschadbank was founded in 1991. According to the National Bank of Ukraine, as of October 1, 2020, in terms of total assets (UAH 266.29 billion) Oschadbank ranked second among 74 banks operating in the country.
Dynamics of changes in discount rate of NBU.
NBU
Ukrainian company Augmented Pixels, which is based in Palo Alto (California, the United States) and develops products in the fields of navigation, digital mapping and virtual/augmented reality, has raised $2 million in investments.
“Augmented Pixels, Inc. closed a $2M funding round from current and new investors and completed the development of indoor navigation, earth-scale 3D mapping and cloud localization technologies,” CEO and Founder of Augmented Pixels Vitaliy Goncharuk has said.
Augmented Pixels will use the funds to continue its innovative R&D efforts while also expanding with an executive team based in the United States.
In general, the company has raised $7 million since 2015.
As reported, ICU invested in Augmented Pixels in July 2020. The amount of the investment was not disclosed.
The European Investment Bank (EIB) invested over EUR 1 billion in Ukraine in 2020 alone. This represents an increase of more than 50% compared to 2019, the press service of the bank has reported.
“We delivered record investment of over EUR 1 billion in Ukraine in 2020, focusing our operations on support for conflict-affected regions of eastern Ukraine, sustainable and green infrastructure, digitalization, innovation and business recovery after COVID-19,” the press service said, citing EIB Vice-President Teresa Czerwińska, who is responsible for operations in Ukraine.
She said that Ukraine is the main recipient country of EIB investments in the Eastern Neighbourhood, accounting for more than 60% of the EIB’s lending activity in the region and supporting the European Union’s policies in its neighbourhood.
According to the report, total EIB investment in Ukraine has now reached EUR 7.5 billion.
The EIB financed small and medium-sized enterprises (SMEs) to ensure they can survive the crisis and continue to provide jobs. It also invested in infrastructure rehabilitation and development, innovation and improvements in public transport and key public services such as education and the postal service.
In 2020, the EIB supported 75 SMEs and mid-caps and helped sustain close to 18,500 jobs in Ukraine.
