The net profit of state-owned PrivatBank (Kyiv) in January-September 2023 amounted to UAH 43.37 billion, which is 3 times higher than the same period in 2022, according to the bank’s unconsolidated report for the third quarter.
According to the report, the state-owned bank’s net profit for the third quarter amounted to UAH 13.62 billion, which is UAH 0.082 billion less than in the second quarter, and at the same time UAH 6.08 billion more than in the same period last year.
According to the report, PrivatBank’s net interest income increased by 64.5% year-on-year to UAH 43.18 billion in January-September 2023, including a 40.7% increase to UAH 15.32 billion in the third quarter, which is UAH 1.2 billion less than in the second quarter of this year.
Net fee and commission income for the first nine months of this year increased by 25% to UAH 17.45 billion compared to the results of 2022. However, in the third quarter, this figure was 1.5% lower than in April-June this year, but 1.3% higher than in the third quarter of 2022 – UAH 5.81 billion.
A significant contribution to the improvement of the bank’s financial result was made by a decrease in the loss from impairment for the first nine months of this year to UAH 0.072 billion, while in the same period last year this figure was UAH 17.34 billion. According to the report, in July-September, the bank even made a profit of UAH 0.697 billion under this item, compared to UAH 0.051 billion in the previous quarter and UAH 9.73 billion in the third quarter of last year.
PrivatBank also reports that its total profit for January-September this year reached UAH 49.52 billion, 3.5 times higher than in the comparable period of 2022. However, in the third quarter of 2023, the total profit decreased by 42% compared to the second quarter and amounted to UAH 13.63 billion, exceeding the total profit for the third quarter of 2022 by 43%.
According to the report, in 9M2023, the bank’s assets increased by 12%, reaching UAH 605.26 billion as of September 30.
This growth is explained by the increase in the amount of funds with the NBU from UAH 11.46 billion to UAH 59.32 billion, funds on correspondent accounts and overnight deposits with banks: in Ukraine, they amounted to UAH 2 million for this period (data for 2022 are not available), in the countries of the Organization for Economic Cooperation and Development (OECD) – from UAH 58.1 billion in 2022 to UAH 75.22 billion as of September 30, 2023.
As for loans and advances to customers, they grew by 32% to UAH 89.82 billion in January-September this year. On the contrary, loans and advances to banks decreased by 10.7% to UAH 93.81 billion since December 2022, including UAH 93.14 billion in NBU certificates of deposit (CDs) and UAH 0.67 billion in escrow with the NBU. At the same time, UAH 55.5 billion of these are CDs at 16%, UAH 26.3 billion are CDs at 22%, and UAH 10 billion are CDs at 25%.
The loan portfolio of legal entities grew by 15.8%, including repurchase agreements to UAH 2.87 billion (no data for 2022). The largest increase in the retail portfolio was recorded in credit card loans (+16.8%), consumer loans (+94.5%), and car loans (up 2 times).
Finance lease loans and receivables increased from UAH 167.93 billion to UAH 169.35 billion. Overall, financial leasing receivables decreased significantly in all segments, both for individuals and legal entities, as well as for small and medium-sized businesses and enterprises.
At the same time, investments in securities decreased slightly for the first time this year, from UAH 239.75 billion to UAH 239.18 billion.
In the first nine months of 2023, PrivatBank’s customer accounts increased from UAH 471.97 billion to UAH 509.94 billion, and equity increased from UAH 57.79 billion to UAH 83.11 billion.
The provision for expected credit losses increased from UAH 174.35 billion in 2022 to UAH 182.41 billion in September this year.
According to the National Bank of Ukraine, as of September 1, 2013, PrivatBank is the leader in total assets (UAH 642.3 billion) among 64 operating banks in the country and ranks third in terms of the number of branches – 1131.
Raiffeisenbank (Kyiv) earned UAH 6 billion 135.77 million in net profit in January-September this year, while in the same period of 2022 this figure was UAH 2 billion 394.84 million, according to the bank’s quarterly report.
According to the report, Raiffeisenbank’s net profit for the third quarter amounted to UAH 3 billion 17.11 million, which is 2.8 times higher than in the second quarter and 1.7 times higher than the net profit for the comparable period last year.
According to the report, the bank’s net interest income increased by 41.1% year-on-year to UAH 12.4 billion in January-September 2023. In particular, for the third quarter, this figure amounted to UAH 4.4 billion compared to UAH 3.9 billion in the second quarter and UAH 3.6 billion for the third quarter of 2022.
It is emphasized that the bank’s income from operating activities in January-September amounted to UAH 22.3 billion, which is 37% higher than the result of the previous year.
According to the information provided, Raiffeisenbank received UAH 4.8 billion (or 21% of total income) from interest income on certificates of deposit (CDs) and interest rate swap agreements with the National Bank. At the same time, interest income on domestic government bonds refinanced by the NBU brought the bank UAH 2.5 billion, which is 11% of total income.
The bank reminded that for 9 months of 2022, interest income on DS and interest rate swap transactions amounted to UAH 2.3 billion (or 14% of total income).
“Most of the income from external customers is generated by transactions with residents of Ukraine. Most long-term assets are concentrated in Ukraine,” the financial institution emphasized.
It is noted that net fee and commission income increased by 30.3% to UAH 1.8 billion in the first nine months of this year compared to the results of 2022. However, in the third quarter, this figure was 30% less than in April-June this year, and 33% less than in the third quarter of 2022 – UAH 495 million.
According to the report, since the end of 2022, the bank’s assets have increased by UAH 15.8 billion and reached UAH 182 billion as of September 30. This growth is primarily due to a significant increase in the volume of securities – from UAH 25.4 billion to UAH 41.8 billion.
The amount of cash decreased from UAH 8.2 billion to UAH 7.4 billion, while cash on current accounts with the NBU and other banks increased by 9.2% and 66.5%, respectively, to UAH 12.7 billion and UAH 11.8 billion.
Loans and advances to customers grew slightly compared to the previous quarter, by 6.3% to UAH 53.5 billion, but still remain below the previous year’s level of UAH 61.7 billion. Meanwhile, the debt of other banks increased by 3.5% to UAH 43.7 billion and remains above the 2022 target of UAH 39 billion.
In July-September, the financial institution managed to increase its customer accounts from UAH 146.4 billion to UAH 152.6 billion, while at the end of last year they were at the level of UAH 143.6 billion. Banks’ funds, on the contrary, decreased by UAH 220.5 million to UAH 2.2 billion in the first nine months of 2023.
It is noted that the total amount of the bank’s capital has increased by 36% since December 2022 and reached UAH 23.2 billion, including retained earnings – 4 times, to UAH 6.2 billion. At the same time, Raiffeisen’s liabilities increased from UAH 149.2 billion to UAH 158.9 billion.
The bank spent UAH 2.8 billion on salaries, bonuses, other incentive payments and payroll taxes, compared to UAH 2.6 billion last year.
Raiffeisen Bank was registered in Ukraine in 1992 and is the largest bank with foreign capital in Ukraine. In October 2005, the bank became part of the Austrian banking group Raiffeisen Bank International AG. Currently, Raiffeisen Group owns 68.21% of the bank’s shares, while the European Bank for Reconstruction and Development owns 30%.
According to the National Bank of Ukraine, as of September 1, 2023, Raiffeisenbank ranked 4th (UAH 132.9 billion) among 64 banks operating in the country in terms of assets.
Ukrainian Graphite PrJSC (Ukrgraphite, Zaporizhzhya) posted a net profit of UAH 128.230 million in January-September this year, up 0.7% year-on-year.
According to the company’s interim report, the company increased its revenue by 8.7% to UAH 1 billion 322.508 million in 9M2023.
The company’s retained earnings amounted to UAH 3 billion 833.682 million as of the end of September this year.
As reported, Ukrgraphite increased its net profit by 42.9 times year-on-year to UAH 70.723 million in January-March 2023, but reduced its net income by 11% to UAH 437.326 million.
In 1H2023, the plant earned a net profit of UAH 83.556 million, while it ended the same period last year with a net loss of UAH 22.135 million and increased revenue by 22.6% to UAH 938.909 million.
“In 2022, Ukrgraphite reduced its net income by 41.4% year-on-year to UAH 1 billion 545.562 million, earned a net profit of UAH 52.584 million, while it ended 2021 with a net loss of UAH 317.539 million.
“Ukrgraphite is Ukraine’s leading producer of graphitized electrodes for electric steel-making, ore-thermal and other types of electric furnaces, commercial carbon masses for Soderberg electrodes, and carbon-based lining materials for metallurgical, machine-building, chemical and other industries.
According to the National Depository of Ukraine (NDU), as of the fourth quarter of 2022, Intergraphite Holdings Company Limited (Bermuda) owns 23.9841% of the company, and C6 Safe Group Limited (Cyprus) owns 72.0394%.
The authorized capital of the company is UAH 233.959 million, with a par value of UAH 3.35 per share.
In January-September 2023, Kredobank (Lviv) earned UAH 1 billion 509.44 million in net profit, while in the same period of 2022 this figure amounted to UAH 68.45 million, according to the bank’s quarterly report.
According to it, in particular, Kredobank earned UAH 594.65 million in the third quarter, which is UAH 41.6 million less than in the second quarter, but 58 times higher than the net profit for the same period last year (UAH 10.09 million).
According to the report, net interest income, which amounted to UAH 1.45 billion in the first half of 2023, increased by another 61.5% to UAH 2.34 billion in the third quarter, while in January-September 2022 it amounted to UAH 1.48 billion.
In particular, net interest income for the third quarter of this year (UAH 893.44 million) was twice as high as in July-September last year.
It is noted that net fee and commission income increased by 9.3% to UAH 387.47 million in the first nine months of this year compared to last year’s results, but in the third quarter this figure was 5.7% less than in 2022 – UAH 128.3 million.
In January-September 2023, Kredobank increased its reserves by only UAH 23.55 million against UAH 1.24 billion in the same period of 2022.
According to the report, since the second quarter of this year, the bank’s assets have increased by 6.8% and reached UAH 48.72 billion as of September 30. This growth is primarily due to a significant increase in the volume of securities – from UAH 13.51 billion in the second quarter to UAH 16.5 billion in the third quarter. At the same time, the amount of cash and funds with the NBU decreased from UAH 14.71 billion in June to UAH 13.68 billion as of September.
Loans and advances to customers increased slightly compared to the previous quarter – by 3.2% to UAH 12.43 billion, while the amounts due to other banks increased by 12.9% to UAH 4.36 billion.
At the same time, in July-September, Kredobank increased its customer accounts from UAH 39.38 billion in June to UAH 41.48 billion. During this time, the bank’s capital increased from UAH 5.08 billion to UAH 5.83 billion, including retained earnings from UAH 0.91 billion to UAH 1.5 billion.
Kredobank was founded in 1990. Its sole shareholder is the largest bank in Poland – PKO Bank Polski S.A. According to the National Bank of Ukraine, as of September 1, 2023, Kredobank ranked 14th (UAH 52.05 billion) among 64 banks operating in the country in terms of assets.
“Ukrtelecom, Ukraine’s largest fixed-line operator, posted a net profit of UAH 242.39 million in January-September 2023, compared to a net loss of UAH 755.18 million in the same period last year, the company said in a report on its website on Monday.
Ukrtelecom’s revenue decreased by 6.1% to UAH 3.14 billion in the first nine months of the year.
Gross profit increased by 26.4% to UAH 791.6 million, and EBITDA amounted to over UAH 1 billion compared to UAH 975 billion in January-September 2022, resulting in an EBITDA margin of 28%.
The company notes that amid the war, Ukrtelecom continues to develop its optical infrastructure, providing Internet access at almost 90% of the number of settlements covered by the operator’s network before the full-scale Russian invasion.
According to a release on Monday, since the beginning of the year, the company has already laid almost 4 thousand kilometers of fiber optic lines, compared to about 5 thousand kilometers in the first nine months of last year. Both new users – business representatives and individuals – are connected to the high-speed optical Internet. It is noted that in the first nine months of this year, 120 medical and 140 educational institutions were also connected to optics.
According to the report, Ukrtelecom paid UAH 1 billion in taxes and duties to the budgets of all levels in January-September 2023 compared to UAH 1.12 billion in January-September 2022, and more than UAH 70 million has already been allocated for the needs of the Ukrainian defenders (UAH 50 million in January-September 2022). Almost 400 Ukrtelecom employees are defending Ukraine in the Armed Forces of Ukraine, compared to about 350 a year ago.
Kharkiv-based aircraft manufacturer FED JSC completed January-September 2023 with net income of UAH 907 million, up 87.1% compared to the same period in 2022.
According to the company’s interim financial statements published in the NSSMC’s information disclosure system, its net profit for the period increased 2.8 times to UAH 272.5 million.
From operating activities, FED JSC received UAH 334.6 million in profit, which is 2.8 times more, and gross profit increased almost 2.3 times to UAH 432.3 million.
As reported, in January-June 2023, the company increased its net profit by 12.6 times compared to the first half of 2022, to UAH 249.43 million, while net income almost tripled to UAH 674.89 million.
Thus, in the third quarter of this year, the net profit of FED JSC amounted to UAH 23 million, which is 70.3% less than in July-September 2022, with a 9.1% drop in net income to UAH 232.1 million.
FED JSC is one of the leading enterprises in Ukraine, specializing in the development, production, maintenance and repair of aviation, space and general engineering units.
In 2022, the company reported a 2.7-fold decrease in net profit compared to 2021, down to UAH 146.77 million. Net income decreased by 2.3 times to UAH 570.9 million.
At the beginning of 2022, the company employed more than 1 thousand people.
According to the National Securities and Stock Market Commission, more than 98.2% of FED shares are owned by the company’s CEO Viktor Popov.
