Business news from Ukraine

Business news from Ukraine

Over three years of state management, Ukrnafta has paid 97.4 bln UAH to state budget

Ukrnafta’s 2025 financial results have been verified by the independent international auditor KPMG.

The auditor issued an unmodified opinion on the financial statements, confirming their compliance with international standards.

“By the end of 2025, Ukrnafta had become the leader in the extraction industry with a turnover of UAH 99.6 billion, as reflected in Opendatabot’s Index of Top Companies,” noted Bohdan Kukura, Chairman of the Board of JSC Ukrnafta. “The company paid UAH 28.8 billion in taxes, fees, and mandatory payments, as well as UAH 5 billion in dividends to the state. In total, over three years of state management—UAH 97.4 billion in taxes and dividends. I thank the Ukrnafta team for their systematic work and results.”

An international audit confirms the transparency of financial reporting and its compliance with best practices.

JSC “Ukrnafta” is Ukraine’s largest oil producer and the operator of the country’s largest national network of gas stations—UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to acquire the Shell network in Ukraine. In total, it operates nearly 700 gas stations.

The company is implementing a comprehensive program to restore operations and modernize the format of its network’s gas stations. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.

The largest shareholder of “Ukrnafta” is NJSC “Naftogaz of Ukraine” with a stake of 50% plus one share.

In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.

Oschadbank’s new program offers loans for used cars at 0.01%

Oschadbank has launched the Select Finance program—a financing program for used cars sold through official dealers in Ukraine.

The program offers more favorable financing terms compared to traditional used car loans and applies to vehicles with low mileage that have a verified service history and are covered by the manufacturer’s warranty.

A vehicle purchased under the program must meet the following requirements:

  • age – up to 3 years from the date of first purchase;
  • mileage – up to 50,000 km;
  • valid manufacturer’s warranty;
  • no more than one previous owner.

Oschadbank offers flexible financing terms:

  • interest rate – from 0.01% to 11% per annum (depending on the term and down payment);
  • down payment – from 30% of the car’s value;
  • loan term – up to 5 years;
  • one-time fee – from 0 to 3% of the loan amount;
  • repayment plan – classic or annuity;
  • option to include the cost of comprehensive insurance for the first year in the loan amount.

“We have focused on the segment of used cars sold through official dealers and covered by a manufacturer’s warranty. This gives customers the opportunity to get a reliable car at a more affordable price than a new one. Today, the used car loan segment accounts for only about 6% of the market for secured passenger car loans. However, it has become the true growth leader: over the past year, the number of such loans has nearly doubled. Therefore, we see significant prospects for further scaling our presence in this segment,” noted Dmytro Bashtovyi, Director of the Partner Relations Department at Oschadbank.

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Tascombank to Hold Shareholders’ Meeting on April 27

According to Fixygen, Tascombank JSC will hold its annual general meeting of shareholders on April 27, 2026, in a remote format, as indicated in the issuer’s disclosure on the bank’s disclosure and corporate materials system. The main items on the agenda for the annual meeting include the approval of financial statements, profit distribution, as well as decisions regarding the activities of management bodies and the bank’s further development.

Tascombank is one of Ukraine’s largest private banks. The institution dates back to 1989 and, following a series of name changes, currently operates under the “TASCOMBANK” brand. The bank is part of the TAS financial and industrial group and develops retail, corporate, investment, and card businesses. It is known in the market as an active player in the SME and universal banking segments.

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“Ukrenergochormet” ended 2025 with net loss of 58,500 UAH

PJSC “Production and Technical Enterprise ”Ukrenergochormet” (Kharkiv) ended 2025 with a net loss of UAH 58.5 thousand, whereas in 2024 it reported a profit of UAH 69.6 thousand.

According to the company’s announcement in the disclosure system of the National Securities and Stock Market Commission (NSSMC) regarding the remote holding of the general meeting of shareholders on May 18, there are five items on the agenda.

In particular, the meeting is scheduled to review the reports of the supervisory board and the chairman of the management board—the CEO—for 2025 and approve relevant measures, approve the annual report and the results of financial and economic activities, and establish the procedure for covering losses.

In addition, it is tentatively planned to grant consent for the execution of significant legal transactions.

As reported, “Ukrenergochormet” recorded a net profit of UAH 69,600 in 2024, compared to UAH 321,700 in 2023.

PJSC “VTP ”Ukrenergochormet” was registered in January 1992. Its main activities include the manufacture of steam boilers, the construction of other structures, and the wholesale trade of metals and metal ores.

According to the State Registration Service data for the fourth quarter of 2025, Vasyl Zaitsev owns 53.2414% of the company’s shares, and Andriy Zaitsev owns 39.6204%.

The authorized capital of the private joint-stock company is UAH 648,772 thousand, and the par value of a share is UAH 0.25.

Insurer “Knyazha Life” Reports Loss Despite an Increase in Payouts

The insurance company “Knyazha Life Vienna Insurance Group” (Kyiv) collected UAH 57.9 million in insurance premiums in 2025, which is 4.98% less than in 2024.

This was reported by the rating agency “Standard-Rating” on its website in a statement confirming the company’s financial stability rating/credit rating at the “uaAA+” level based on the results of the reporting period.

It is noted that the volume of insurance payments and reimbursements made by the company during this period reached UAH 33.657 million, which exceeded the volume of payments for 2024 by 22.91%. Thus, the insurer’s payout ratio increased by 13.20 percentage points to 58.17%, which is a high figure for the life insurance market in Ukraine.

The insurer’s acquisition costs for 2025 amounted to UAH 0.661 million, which is 40.72% less than in 2024.
At the end of 2025, the company’s operations were unprofitable. The net loss amounted to UAH 14.8 million, whereas at the end of 2024, the company’s net profit was UAH 29.6 million.

The RA also notes that as of January 1, 2026, the company’s assets grew by 10.11% to UAH 1.001 billion, equity decreased by 3.14% to UAH 296.702 million, liabilities increased by 16.85% to UAH 704.238 million, cash and cash equivalents more than doubled to UAH 8.854 million, and government bonds and bank deposits as part of current financial investments increased by 9.35% to UAH 961.915 million.

Thus, as of the beginning of 2026, equity covered 42.13% of the insurer’s liabilities, and 1.26% of its liabilities were secured by cash and cash equivalents.
At the same time, as of the reporting date, the insurer had formed a portfolio of current financial investments totaling UAH 961.915 million, which included bank deposits and investments in government bonds.

RA notes that the company’s high level of external support is provided by its shareholder—the international insurance group headquartered in Austria, Vienna Insurance Group Wiener Städtische Versicherung AG, which is represented by 50 companies in 30 countries and is a leader in the insurance market of Central and Eastern Europe.

Imports of electric generators to Ukraine fell by 31% in first quarter of 2026

Imports of power generation units and rotating electrical converters to Ukraine in January–March 2026 fell by 31% compared to the same period in 2025—to $298.7 million, according to data from the State Customs Service.
According to statistical data, in March, imports of this equipment decreased by 11% compared to March 2025 and by 41.9% compared to February 2026—to $78.6 million.
In the first quarter of this year, electric generators and converters were most frequently imported from Romania—$62.7 million, accounting for 21% of total imports of these products—China—$55.4 million, or 18.5%—and the Czech Republic—$50.3 million, or 16.8%.
A year earlier, the largest suppliers were the Czech Republic with $85.7 million in shipments, the United States with $77.3 million, and Austria with $68.7 million.
Exports of electric generators from Ukraine in January–March 2026 were negligible, totaling $0.44 million.
As reported, in late July 2024, Ukraine exempted imports of electric generator equipment and batteries from customs duties and VAT. According to the State Customs Service, imports of electric generators and converters grew 2.3 times in 2025 compared to 2024, reaching $1.69 billion.

 

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