Lviv Bank plans to increase its authorized capital by UAH 250 million, or 35.3%, to UAH 958 million 405,338 thousand through additional contributions from existing shareholders.
According to the bank’s announcement in the disclosure system of the National Securities and Stock Market Commission (NSSMC), the relevant issue was submitted to an extraordinary remote shareholders’ meeting on December 18.
It is assumed that an additional issue of shares with the existing par value of UAH 0.1 each will be made as part of the authorized capital increase.
According to the National Bank of Ukraine, as of the beginning of September 2023, Lviv Bank ranked 28th in terms of assets (UAH 9.12 billion) among 64 banks operating in the country. The bank’s net profit for 8 months of this year amounted to UAH 121.1 million.
According to the website of Lviv Bank, its shareholders at the beginning of this year were: ResponsAbility Participations (Switzerland) – 48.557189%, Nordic Environment Finance Corporation (NEFCO) – 13.93623% and Icelandic citizen Margeir Petursson – 37.4692%.
The EBRD pointed out in August this year that Bank Lviv, which is owned by European shareholders, is a regional bank focused on SMEs and one of the fastest growing in western Ukraine, with a loan portfolio that grew from $35 million in 2017 to $133 million in the first quarter of 2023. The bank is headquartered in Lviv and has a network of 19 branches, 13 of which are in Lviv region and six in other cities.
Russia’s full-scale invasion of Ukraine has virtually eliminated the demand for foreign currency loans, contributing to a reorientation to lending in the national currency, which is a good indicator for the economy, according to Pervin Dadashova, director of the NBU’s Financial Stability Department.
“Hryvnia lending prevails, and in general, in principle, the hryvnia is more attractive for lending than foreign currency. This is very important, and I think that this love for lending in hryvnia should continue,” she said at a discussion held by the Center for Economic Strategies (CES).
Dadashova noted that earlier the main motivation for foreign currency lending was lower interest rates on such loans, which led to problems in the absence of real needs and revenues in foreign currency. According to her, the risks of foreign currency lending, which increased during the war, have sharply reduced business interest in the dumb
The Director of the NBU’s Financial Stability Department noted that the loan portfolio has recently stabilized and returned to a slight increase, and now banks are faced with the task of compensating for its loss during the war, which, according to various metrics, amounted to about 15%.
“Now the quality of the loan portfolio is absolutely normal, it is even better than before the war. That is, banks are not losing as much credit risk as they did a few months ago,” the expert emphasized.
She clarified that the small growth in the loan portfolio so far is largely due to the growth under government support programs.
“However, a greater openness to new lending is already noticeable, including in our surveys,” Dadashova noted.
Among other trends, she noted an increase in the share of small and medium-sized businesses (SMEs) in the loan portfolio to more than 50%.
“A significant part of them belongs to business groups, so it is not a pure small business, it is still a big business, but it is structured in a certain way. But in the total portfolio, 15% of loans are granted to debtors who do not belong to business groups,” the expert said, emphasizing that they are a “good engine” for market lending.
In January-October 2023, Naftogaz Group paid UAH 75.4 billion in taxes to the state and local budgets.
According to the Group’s press service, the state budget received UAH 69.8 billion, which is 11.5% of the payments controlled by the State Tax Service of Ukraine, and almost UAH 6 billion went to local budgets.
“Our work is not only about the country’s energy sustainability, it is also about economic sustainability. In October, our companies paid UAH 4.7 billion to the state budget. We are constantly working to increase our profits, which in turn affects the growth of contributions to the country’s budget,” commented Oleksiy Chernyshov, Chairman of the Group, as quoted in the release.
As reported, in 2022, Naftogaz Group transferred almost UAH 100 billion to the budgets, and in 2021 – UAH 116 billion.
The net profit of the state-owned Oschadbank (Kyiv) in January-September 2023 amounted to UAH 14.18 billion, which is 6 times higher than the same period in 2022, according to the bank’s interim condensed report for the third quarter.
According to the report, the state-owned bank’s net profit for the third quarter amounted to UAH 7.34 billion, which is UAH 3.04 billion more than in the second quarter of this year and UAH 0.56 billion more than in the third quarter of last year.
According to the report, Oschadbank’s net interest income increased by 32.2% year-on-year to UAH 13.89 billion in January-September 2023, including a 24.4% increase to UAH 4.95 billion in the third quarter, which is UAH 0.75 billion more than in the second quarter of this year.
Net fee and commission income for the first nine months of this year increased by 24.8% to UAH 5.07 billion, including 0.3% to UAH 1.75 billion in Q3. Meanwhile, in April-June this year, this figure was equal to UAH 1.65 billion.
A significant contribution to the improvement of the bank’s financial result was made by the dissolution of provisions for expected credit losses on assets: for the first 9 months of this year, it amounted to UAH 1.4 billion, including UAH 0.16 billion in the third quarter, while for the same period last year, Oschadbank formed additional provisions of UAH 9.61 billion and UAH 4.20 billion, respectively.
The state-owned bank also reports that its total profit for January-September this year reached UAH 14.23 billion, 6.7 times higher than in the comparable period of 2022. In the third quarter of 2023, total profit increased by 9.2% compared to the third quarter of last year and by 69.1% compared to the second quarter of this year.
According to the report, in 9M2023, the bank’s assets increased by 16.9%, reaching UAH 314.78 billion by September 30. This growth is attributed to the increase in cash, correspondent accounts and funds with the NBU from UAH 28.36 billion to UAH 62.56 billion. In addition, according to the report, the volume of investments increased by UAH 10.07 billion to UAH 153.45 billion.
As for loans to customers, they grew by 3.1% to UAH 83.03 billion in the third quarter, but still remain below the figure of UAH 83.22 billion in July-September last year. Of this amount, UAH 62.07 billion was granted to corporate entities, UAH 7.54 billion to government and local authorities, and UAH 4.55 billion in mortgage loans.
Over the first nine months of 2023, Oschadbank’s customer accounts increased from UAH 233.94 billion to UAH 268.89 billion, while banks’ accounts decreased from UAH 0.54 billion to UAH 0.24 billion.
The equity of the financial institution increased by UAH 14.04 billion to UAH 36.2 billion in the first nine months of this year.
According to the National Bank of Ukraine, as of September 1, 2023, Oschadbank ranked second in terms of total assets (UAH 337.99 billion) among 64 operating banks in the country and first in terms of the number of branches – 1182.
On November 19, 2023, in Kyiv, from 10:00 a.m. to 10:00 p.m., at the InterContinental Hotel (Velika Zhytomyrska St., 2A), the 8th International Forum of Winemakers and Sommeliers will be held, as part of which will be held:
– Jubilee XX All-Ukrainian Sommelier Competition “Master Sommelier – 2022-2023”,
– VII All-Ukrainian Cavist Competition “Best Cavist of Ukraine – 2022-2023”,
– “Round table” of winemakers and sommeliers as part of the “Evening of winemakers”,
– Open tastings and presentations of wines, spirits, cheeses and other products for all event guests.
Organizers:
– All-Ukrainian Association of Winemakers and Sommeliers,
– Association of winemakers of Ukraine,
– The first sommelier school “Master Class” in Ukraine.
General Partner – TM “Vinos dela Luz”
General Information Partner – Information Agency “Interfax Ukraine”.
Partners: TM “Big Wines”, “SV plus”, “Poli1898”, “Delamain”, “AELRED”, “Eyguebelle”, “ACHA”, “Purity”, “Zinka”, “Voda.ua”, “Sigarny Dim” “Fortuna”, APSVT, Hotel “InterContinental”.
Media Partners – “Club of Experts“, “OPEN for BUSINESS“, magazine “Kyiv Diplomatic”,
The guests of these events will be the heads of companies importing alcoholic beverages, heads of the restaurant segment, sommeliers, winemakers, heads of wine companies and wine boutiques, representatives of business structures, mass media and TV, connoisseurs and wine lovers.
CLUB OF EXPERTS, InterContinental, international forum, SOMMELIERS, WINEMAKERS
President of Ukraine Vladimir Zelensky received letters of credence from the new Ambassador of Turkey Mustafa Levent Bilgen, Ambassador of the Czech Republic Radek Pech, Ambassador of Luxembourg Ronald Dofing, who began their work in Ukraine.
As reported on the website of the head of the Ukrainian state on Friday, the ceremony took place on the territory of the Sofia of Kiev national reserve.
During the conversation with Mustafa Levent Bilgen, Turkey’s active participation in the Peace Formula meetings at the level of national security advisers and its willingness to lead the implementation of the food security clause of the Formula were highly appreciated.
“The upcoming joint steps to ensure the operation of the “grain corridors”, the implementation of the global humanitarian initiative “Grain from Ukraine” and the priority areas of Ukrainian-Turkish security cooperation were discussed separately. The head of state noted Turkey’s important position regarding the further promotion of Ukraine’s Euro-Atlantic aspirations,” the statement says. message.
During a conversation with the Ambassador of the Czech Republic, an exchange of views took place on interaction between states in the defense sector and strengthening cooperation in the military-industrial complex
“The President thanked the Czech Republic for its support of the Ukrainian peace formula and expressed hope for the further active involvement of Prague in its practical implementation and preparation of the Global Peace Summit. Special attention was paid to the issues of European and Euro-Atlantic integration of Ukraine and the importance of the Czech Republic’s support for the development of our country on the path to the EU and NATO “, reports the press service of the head of state.
During a conversation with Ronald Dauphing, the President thanked Luxembourg for participating in a meeting at the level of national security advisers on the implementation of the Ukrainian peace formula.
“The importance of Luxembourg’s support for the decision to begin negotiations on Ukraine’s accession to the EU during the December meeting of the European Council was noted. The head of state noted the need to develop a mechanism that would allow the use of Russian assets frozen by Luxembourg to restore Ukraine,” the message says.
