Business news from Ukraine


Bank Credit Dnepr (Kyiv) has increased its charter capital by UAH 1.199 billion, or 78.8%, to UAH 2.72 billion through an additional share issue.
According to a press release of the financial institution, on August 15 the bank registered the new wording of the charter in connection with the increase of the charter capital.
Capitalization was carried out by a private placement of additionally issued shares.
Bank Credit Dnepr was founded in 1993. Its sole shareholder is Brancroft Enterprises Limited, which indirectly belongs to Victor Pinchuk.
The bank ranked 21st among 84 operating banks in the country as of June 1, 2018 in terms of total assets (UAH 9.439 billion), according to the National Bank of Ukraine.

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PrJSC Ukrainian Agro-Insurance Company (UAIC, Cherkasy) will increase charter capital by 25%, to UAH 15 million through the private placement of common registered shares at a price of UAH 477.48 per share to the tune of UAH 3 million. The face value of one share is UAH 171.43.
This decision was taken by the company’s shareholders at a meeting on June 26, 2018, the company said in an official statement. As reported, UAIC was in the red in 2017 and its net loss totaled UAH 20.3 million against UAH 10.207 million in net profit in 2016.
Over the year, its assets grew by 7.5%, to UAH 53.7 million. Its net worth as of December 31, 2017 decreased by 40%, to UAH 30.714 million, cash and cash equivalents increased by 46.3%, to UAH 16.581 million. Accounts receivable amounted to UAH 4.391 million (UAH 33.016 million in 2016).
UAIC’s long-term liabilities grew by 23%, to UAH 7.6 million, current liabilities are estimated at UAH 15.831 million (UAH 815,000 in 2016). Its charter capital remained unchanged in 2017 and stood at UAH 12 million.
PrJSC Ukrainian Agro-Insurance Company (IC Salamander-Dnepr) has been operating on the market since 1995. The National Commission for the State Regulation of Financial Services on April 13, 2017, allowed Dobrobut agricultural firm to acquire a 75.59% stake in the insurer. According to the Unified State Register, 98.26% of Dobrobut’s charter capital belongs to LLC Astarta-Kyiv Firm.