Business news from Ukraine

Business news from Ukraine

MAIN TRADE PARTNERS OF UKRAINE IN % FROM TOTAL VOLUME (EXPORT FROM UKRAINE TO OTHER COUNTRIES) IN JAN.-AUG. 2019

Main trade partners of Ukraine in % from total volume (export from Ukraine to other countries) in Jan.-Aug. 2019

CHANGES IN CURRENCY EXCHANGE, UAH/USD, 30.08.19.-30.10.19.

Changes in currency exchange, UAH/USD, 30.08.19.-30.10.19.

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DTEK FINISHES CONSTRUCTION OF PRYMORSKA WIND FARM

DTEK has completed construction of Prymorska wind farm (Botiyeve, Zaporizhia region) with a capacity of 200 MW, an Interfax-Ukraine correspondent has reported.
DTEK CEO Maksym Tymchenko said that investment in the project reached EUR 321 million, including EUR 180 million are funds borrowed from German banks and secured by foreign export-credit agencies.
Prymorska wind farm will annually generate 700 million kWh of electricity.
The plant consists of two phases 100 MW each and has 52 wind turbines made by General Electric.
During the construction of the second phase Ukrainian contractors received orders for EUR 30 million.
DTEK was established in 2005 to manage the energy assets of the System Capital Management Group (SCM, Donetsk) of Rinat Akhmetov. The functions of strategic management of the enterprises of the group that make up the vertically integrated chain for the extraction and enrichment of coal, production and sale of electricity were delegated the holding.

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ALFA-BANK SEES 70% RISE IN NET PROFIT

The net profit of Alfa-Bank (Kyiv) in January-September 2019 totaled UAH 1.487 billion, which is 69.2% more than a year ago (UAH 879.189 million), according to a quarterly financial statements of the bank.
According to the report posted on Alfa-Bank’s website, net profit in the third quarter of 2019 amounted to UAH 577.513 million, which is 19.2% more than in the third quarter of last year.
Alfa-Bank’s net interest income in January-September 2019 increased 12.2% compared to the corresponding period of 2018, to UAH 2.998 billion. Assets increased 8.4%, to UAH 65.589 billion, including loans issued to customers by 1.3%, to UAH 32.885 billion. Bank liabilities from the beginning of the year grew by 6.4%, to UAH 59.058 billion. Net worth for this period increased 29.6%, to UAH 6.531 billion. The charter capital remained at the level of UAH 12.180 billion.
At the same time, Ukrsotsbank’s net loss in January-September 2019 amounted to UAH 1.092 billion, which is 30.1% more than for the same period of 2018 (UAH 839.465 million), according to a quarterly report on the bank’s website. In the third quarter of 2019, it increased 33.3% compared to the corresponding period of 2018, to UAH 618.586 million.
Ukrsotsbank’s net interest income in January-September 2019 decreased 55.3% compared to the same period in 2018 and amounted to UAH 339.940 million. Assets decreased 31.8%, to UAH 10.690 billion, including loans issued to customers by 37.7%, to UAH 6.116 billion. Liabilities of Ukrsotsbank decreased 30.9%, to UAH 8.708 billion. Net worth decreased 35.5%, to UAH 1.982 billion. The charter capital in January-September 2019 remained at the level of UAH 16.673 billion.
As reported, the National Bank of Ukraine (NBU) in October 2019 revoked the banking license and removed Ukrsotsbank from the public register of banks in connection with the completion of reorganization of Ukrsotsbank through merger with Alfa-Bank.
According to the NBUB, as of July 1, 2019, Alfa-Bank was sixth (UAH 72.159 billion) in terms of total assets, Ukrsotsbank – 13th (UAH 33.129 billion) among 76 operating financial institutions

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KYIVSTAR CONNECTS 1,046 SETTLEMENTS TO 4G INTERNET

The Kyivstar mobile communications operator has expanded the territory of coverage with 4G technology in 21 regions in Ukraine and connected 1,046 settlements to the new technologies, providing another 830,000 residents of Ukraine with access to high-speed Internet, the company has said in a report.
So, high-speed mobile Internet appeared in the cities and towns of Baturyn, Berdychiv, Bilovodsk, Varash, Volochysk, Volnyansk, Zolotonosha, Konotop, Manevychi, Mena, Radomyshl, Rubizhne, Sambir, Smila, Starokostiantyniv, Stryi, Khotyn, Schastia, Yampil, as well as several hundreds of villages.
To date, the Kyivstar 4G network operates in 7,885 settlements, 90% of which are located in rural areas. This is the territory where over 29.8 million people or 72% of the population of Ukraine live.
The operator has already installed about 7,500 towers for 4G communications.
The company also said that the operator supported a general plan of action aimed at implementing the decree of President of Ukraine Volodymyr Zelensky on ensuring nationwide coverage of 4G/LTE in the 900 MHz band.
Kyivstar is considering the possibility of becoming a “donor” of frequencies for other mobile operators, provided that the state takes measures to increase the efficiency of the radio frequency spectrum that Kyivstar may receive as a result of redistribution, the company said.

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