Business news from Ukraine

Business news from Ukraine

Denmark to provide $13.3 mln for Ukraine’s cyber defense

Denmark is contributing DKK 91 million ($13.3 million) to projects to support the development of cybersecurity and defense of the Armed Forces of Ukraine and the Ministry of Defense of Ukraine.

“The donation is made under the auspices of the Estonia-led and Luxembourg-led IT Coalition for Ukraine, which Denmark has joined along with a number of other countries,” the statement said.

Denmark and other members of the IT Coalition signed a cooperation agreement yesterday on the sidelines of a meeting of the Ukraine Defense Contact Group.

“This donation is an important contribution to the long-term support for strengthening Ukraine’s cyber defense. Since the beginning of the invasion, Denmark has made a significant contribution to the Ukrainian liberation struggle, and this also applies to cyberspace,” said Defense Minister Troels Lund Poulsen.

In addition to Denmark, the coalition includes Estonia, Luxembourg, Iceland, Italy, Latvia, Lithuania, the Netherlands and Ukraine. So far, Denmark, Estonia and Luxembourg have made financial donations to the coalition.

,

Import changes in % to previous period in 2022-2023

Import changes in % to previous period in 2022-2023

Source: Open4Business.com.ua and experts.news

Cabinet of Ministers has expanded list of medical products that are mandatory for purchase through Prozorro Market

The Cabinet of Ministers has expanded the list of medical products that are mandatory for purchase through the electronic catalog Prozorro Market.

According to the state enterprise “Medical Procurement of Ukraine” (MPU), thus, more than 400 categories of medicines and 92 categories of medical devices will be mandatory for purchase through the electronic catalog.

The relevant changes, enshrined in the government resolution No. 34 regarding medical devices, have already entered into force, while regarding medicines the innovations will be applied from March 1, 2024.

In 2023, more than 1600 customers conducted 13 thousand transactions using Prozorro Market to purchase medicines and medical devices.

The total value of medical goods purchased through electronic catalogs in 2022 amounted to $28 million, in 2023 – $ 2.5 billion.

Prozorro Market electronic catalog works on the principle of the market and is free for customers. With its help, customers can quickly, conveniently and favorably buy products. The medical part of the catalog is administered by specialists from the Ministry of Health.

, ,

Insurer Avangard will increase its authorized capital

The meeting of shareholders of the insurance company Avangard (Kiev) has decided to increase the authorized capital 4 times, up to UAH 48 mln by conducting an issue for the amount of UAH 36 mln, as reported in the official information of the insurer, placed in the information base of the National Commission on Securities and Stock Market (NCSSM).

It is noted that in the course of the closed issue it is planned to place 36 thousand shares with nominal value of UAH 1 th.

IC “Avangard” was registered in November 2004. It specializes on risk insurance.

The shareholders of the company are AVT-Buti LLC (Kiev) 47,51% and six individuals with stakes from 9,5% to 9,8%

Authorized capital – UAH 12 mln.

,

PrivatBank increased its net profit by 25%

State-owned PrivatBank ended 2023 with UAH 37.77 billion in net profit, which is UAH 7.57 billion, or 25%, higher than the financial result of 2022, the financial institution said in a press release on Wednesday.

Pre-tax profit increased 2.1 times, or by UAH 38.09 billion, to UAH 72.77 billion.

According to the release, PrivatBank’s assets last year, after growing by 34.9% in 2022, increased by another 26.6% to UAH 685.1 billion, ensuring its leadership in this indicator in the market.

In 2023, the bank’s net interest income increased by UAH 19.7 billion, or 49.4%, to UAH 59.6 billion, of which UAH 3 billion was due to the favorable interest rate policy of the National Bank of Ukraine (NBU) in 2023,

At the same time, net fee and commission income increased by 20% to UAH 24.4 billion.

“In the context of business growth, operating expenses grew by only 8%, remaining under close management control,” the release said.

According to the state-owned bank, the net portfolio of loans to households in 2023 increased by 39% to more than UAH 60 billion, while the volume of loans to businesses increased by 23% to more than UAH 30 billion.

PrivatBank notes a gradual improvement in the quality of the loan portfolio, which leads to significant savings in provisioning costs. In particular, according to the bank, expenses under this item in 2023 decreased by UAH 11.8 billion compared to 2022.

There has also been an increase in deposits in the state bank of both individuals and enterprises – the volume of deposits increased by 18%, or UAH 85 billion, compared to the level of 2022. According to the state-owned bank, deposits and balances on correspondent accounts of clients reached UAH 550 billion in 2023. According to the submitted materials, Privat has 18.35 million active individual clients and 875 thousand business clients.

It is noted that Privat paid UAH 26.8 billion in income tax to the state budget (including UAH 8.2 billion in prepayments in 2021-2022, together with dividends), while in 2021-2022 the financial institution paid UAH 8.5 billion.

“The majority of the bank’s net profit will be used to pay dividends, i.e. also to the state budget, according to the decision of the shareholder represented by the Ministry of Finance,” the statement emphasizes.

,

Ukrainian and Slovak prime ministers agree to hold business forum

Ukrainian Prime Minister Denis Shmygal and Slovak Prime Minister Robert Fitzo have agreed to hold a business forum in the first half of 2024.

“They emphasized the importance of strengthening relations between enterprises and promoting the involvement of Slovak companies in the efforts to rebuild Ukraine. Accordingly, they agreed to convene a business forum in the first half of 2024 with the participation of representatives of the state and regions, business associations and relevant state institutions,” reads a joint statement following the premiers’ meeting in Uzhgorod on Wednesday.

The sides also agreed to hold a meeting of the Ukrainian-Slovak mixed commission on economic, industrial, scientific and technical cooperation and the intergovernmental Ukrainian-Slovak commission on cross-border cooperation as soon as possible.

,