Business news from Ukraine

Business news from Ukraine

About 2 thousand apartments for refugees will be built in Ukraine with German funds

The Ministry of Reintegration of Temporarily Occupied Territories of Ukraine, the International Organization for Migration (IOM), five regional state administrations and 12 communities signed memorandums of cooperation on Friday, which will provide affordable housing for displaced and war-affected people.

According to the IOM press service on Friday, the project, financed by the German Federal Ministry for Economic Cooperation and Development through the German Development Bank, envisages the construction of up to 2,000 apartments for about 6,000 people in the cities of Khotyn and Chernivtsi in Chernivtsi Oblast, Kolomyia in Ivano-Frankivsk Oblast, Irpin and Gorenka in Kyiv Oblast, Agronomiche, Ladyzhyn and Khmelnyk in Vinnytsia Oblast, Stary Sambor, Drohobych and Kamenka-Bugska in Lviv Oblast.

At the same time, the latter two communities are receiving resettlers from Severodonetsk in the Luhansk region, with which a memorandum of understanding on the implementation of the housing project has also been signed.

“Housing will become affordable for internally displaced persons and vulnerable local population thanks to the rental mechanism that will be developed and implemented within the project,” the statement said.

The Ministry for Reintegration of Temporarily Occupied Territories will carry out the overall coordination of the project.

“According to the latest IOM data, one fifth of internally displaced persons plan to stay and integrate in their current place of residence. Finding durable solutions to housing problems is the key to success… Legal and technical provisions tested in the framework of the affordable housing project may become the basis for further large-scale international assistance projects in the field of housing policy in Ukraine,” said Alessia Schiavon, Head of the IOM office in Ukraine.

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More than 15 thousand road accidents involving Ukrainian drivers occurred abroad in 2023

In 2023, 15.122 thousand traffic accidents involving Ukrainian drivers occurred abroad, the Motor (Transport) Insurance Bureau of Ukraine reported.

At the same time, 31%, or 15.122 thousand accidents occurred in Poland, 19%, or 2.033 thousand accidents in Germany, 7%, or 753 in the Czech Republic, and 4%, or 463 in Italy.

As reported, 1.625 million Green Card contracts were concluded in 2023, which is 0.7% less than in 2022. The amount of payments collected amounted to UAH 5.207 billion (+27.3%).

At the same time, the amount of indemnities paid on claims increased 2.4 times to EUR 46.7 million, while the number of paid claims increased by 96.6% to EUR 15.122 thousand.

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Banks will have to pay almost half of their profits as tax for 2023

Who are the top 10 Ukrainian banks by profit?

Ukrainian banks earned almost UAH 160 billion in pre-tax profit in 2023. This is almost twice as much as before the full-scale invasion. However, banks will have to pay tax, which is almost half of their total profit – over UAH 73 billion.

UAH 159.99 billion of pre-tax profit was earned by 63 Ukrainian banks in 2023. This is 1.9 times more than in 2021.

However, last year’s net profit was much lower – only UAH 86.54 billion. At the same time, this is still 12% more than before the full-scale invasion. Back then, 71 banks made a profit of UAH 77.53 billion.

Almost half of the banks’ profits must be paid as income tax under the new law – 46% or UAH 73.45 billion. For comparison, in 2021, the tax was almost 12 times less: UAH 6.37 billion or 7.6% of profit.

Overall, only 7 banks out of 63 ended 2023 with losses of UAH 245 million.

Currently, the top 10 banks have undergone little change: the ranking includes 5 banks with foreign capital, 4 state-owned banks, and 1 bank with private capital. Together, these 10 banks earned 88% of the total profit – UAH 75.94 billion. And their income tax amounted to UAH 63.18 billion.

State-owned banks

5 state-owned banks accounted for 63% of the total profit of all banks – UAH 54.71 billion. State-owned Privat is a consistent leader in terms of profit among all Ukrainian banks: UAH 37.76 billion in 2023. This is 8% more than in 2021.

Meanwhile, Oschadbank managed to increase its profit by 4 times last year and received UAH 4.75 billion in net profit. Sens Bank, nationalized in 2023, was also added to the list of state-owned banks.

Foreign banks
14 banks with foreign capital earned UAH 22.43 billion. For comparison, 20 banks in this group earned almost the same amount on the eve of the full-scale invasion.

Raiffeisen was the leader in terms of profit last year: UAH 4.78 billion. Together with Ukrsibbank, which almost tripled its earnings compared to 2021, they accounted for 40% of the group’s profit.

Most foreign banks managed to increase their profits last year compared to 2021. Deutsche Bank showed the largest increase: by 18 times.

Private capital
According to the results of the year, private banks are doing the worst. Last year, 44 banks with private capital earned UAH 9.4 billion in profit. This is 25% less than before the start of the full-scale war.

Almost 2/3 of the total profit of this group is accounted for by 2 banks: FUIB, which is the leader of the group – UAH 3.95 billion, which is 5% less than in 2021, and Universal Bank (Monobank), whose profit decreased by 1.6 times in 2021.
https://opendatabot.ua/analytics/banks-2023

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Cloudy, wet snow and rain in Kiev on February 20-21

In Kiev and the region on Monday, February 19, cloudy with clearings, without precipitation, reported Ukrhydrometcenter.

The wind is northerly with a transition to southeastern, 5-10 m/s.

In the region, the temperature at night 1-6 ° frost, during the day from 2 ° frost to 3 ° heat.

In Kiev on Monday night 3-5° frost, in the afternoon on February 19 0-2° warm.

In Kiev region on February 20-21, cloudy with clearings. A little wet snow and rain, with no precipitation at night on February 20.

The wind is south, southwest, 5-10 m/s. The temperature on February 20 will be 1-6° frost at night, from 2° frost to 3° warm during the day; on February 21, from 3° warm to 2° frost at night, from 3-8° warm during the day.

In Kiev on February 20-21, cloudy with clearings. Some wet snow and rain, with no precipitation at night on February 20. The wind is south, southwest, 5-10 m/s.

The temperature in the capital on Tuesday, February 20, night 1-3° frost, daytime 0-2° warm; February 21, night 1-3° warm, daytime 4-6° warm.

Forecast for Kiev region for February 22-23. At night on February 22, light rain and wet snow. The temperature at night 3° warm to 2° frost, during the day 3-8° warm.

In Kiev on the night of February 22, light rain and wet snow. The temperature at night is about 0°, during the day 4-6° warm.

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Special visas for Ukrainians in UK extended for another 18 months

Special visas for Ukrainians who received temporary asylum in Britain after the full-scale invasion of Russia, from the beginning of 2025 can be extended for another 18 months, reports BBC News with reference to the British Home Office.

It is noted that for Ukrainian refugees in the UK have been introduced special categories of visas with a validity period of three years. The first such visas were issued in March 2022 and respectively expire in March 2025. They allow refugees to work in the United Kingdom, as well as give them access to education, health and social benefits.

“Ukrainian nationals in Britain who have been granted asylum under the Homes for Ukraine and Ukrainian Family Program will be able to apply for an 18-month visa extension three months before the visa expires, meaning the first of them can do so early next year,” it said.

Those who have been granted asylum in the country outside of these schemes will also be eligible for the extension, according to the Home Office.

According to BBC News, since the launch of programs for Ukrainians fleeing war, Britain has granted asylum to more than 283,000 people, many of whom have been placed with British families.

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President of Ukraine plans to meet with U.S. President Joe Biden online in near future

President of Ukraine Volodymyr Zelenskyy plans to meet with U.S. President Joe Biden online in the near future. The Head of State told Inter TV journalists on the sidelines of the Munich Conference on Saturday, February 17.

“We will be in constant contact with Biden, we have agreed on this. I won’t tell you some details, but I think we will meet online in the framework of the G7 meeting in the near future,” the president said.

He noted that he was in constant contact with the United States at various levels, with the White House and with congressmen.

Zelenskyy also emphasized that during a telephone conversation with the American president on February 17, he assured him that he would support Ukraine and do everything to ensure a positive outcome.

“I am confident that the United States will remain our strategic partner,” the head of state said.

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