Business news from Ukraine


New Yorker Ukraine LLC (Kyiv), which is developing the German clothing and footwear network New Yorker in Ukraine, opens a store in the River Mall trade center at 12 Dniprovska Esplanade in Darnytsky district of Kyiv, thereby expanding the Ukrainian network to ten stores.
According to the press service of the mall, the store will be located on the second floor of the facility and will occupy 1,100 square meters.
The outlet will be the fourth one in Kyiv and the tenth one in Ukraine.
The New Yorker network has been developing in Ukraine since 2011.
According to the company’s website, as of August 22, 2019, the chain had nine stores in Kyiv, Odesa, Lviv, Kharkiv, Kryvy Rih, and Sumy. The New Yorker international chain has more than 1,000 stores in 40 countries.
Ukraine’s banks almost quadruple net profit in Jan-July 2019
KYIV. Aug 22 (Interfax-Ukraine) – Solvent banks in Ukraine in January-July 2019 received UAH 36.7 billion in net profit, which is 3.7 times more than in the same period in 2018, the National Bank of Ukraine (NBU) has said.
According to its data, the income of banks this year increased by 30%, to UAH 141.4 billion, while expenses by 6%, to UAH 104.7 billion.
Based on the previously released data, in July, the net profit of Ukrainian banks grew by 3.8 times, to UAH 5.69 billion: revenues increased by 23.1%, to UAH 20.34 billion, while expenses decreased by 2.5%, to UAH 14.65 billion.
The main factors in the growth of bank profit are the increase in net interest income by 19%, to UAH 46.3 billion, the growth in net commission income by 16%, to UAH 24.7 billion, a positive result from revaluation and from sale and purchase operations (UAH 10.6 billion), a decrease in deductions for reserves to UAH 6.3 billion against UAH 11.6 billion last year.
The NBU expects the sector returns to remain high in 2019.
As reported, in 2018, the banking system’s profit reached a historic high of UAH 21.7 billion.

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