Business news from Ukraine

Business news from Ukraine

TASCOMBANK POSTS 19.2% RISE IN NET PROFIT

The net profit of TAScombank in January-September 2019 amounted to UAH 327.462 million, which is 19.2% more than for the same period in 2018 (UAH 274.662 million), the bank reported in its quarterly statements.
According to the report posted on the bank’s website, its net profit for July-September 2019 amounted to UAH 204.185 million, which is 1.9 times more than in the third quarter of 2018.
Net interest income for the nine months increased by 28.1% compared to the corresponding period of 2018, to UAH 993.742 million.
The bank’s assets increased by 2.6%, to UAH 18.170 billion, in particular loans to customers by 0.5%, to UAH 12.468 billion.
The bank’s liabilities since the beginning of the year have grown by 0.8%, to UAH 15.714 billion.
The bank’s net worth for this period increased by 15.8%, to UAH 2.457 billion. Charter capital remained at the level of UAH 1.153 billion.
According to the NBU, as of January 1, 2019 the main owner of TAScombank is Sergiy Tigipko (99.93066% of the shares).
TAScombank ranked 17th among 76 operating banks as of July 1, 2019 in terms of total assets (UAH 19.062 billion), according to the National Bank of Ukraine.

,

CREDIT AGRICOLE BANK POSTS 12.4% RISE IN NET PROFIT

The net profit of Credit Agricole Bank (Kyiv) in January-September 2019 amounted to UAH 1.332 billion, which is 12.4% more than for the same period in 2018 (UAH 1.185 billion), the bank reported in its quarterly statements.
According to the report posted on the bank’s website, net profit for the third quarter of 2019 amounted to UAH 507.335 million, which is 28.1% more than for the third quarter of last year.
Net interest income for the nine months of this year increased by 9.8% compared with the same period a year earlier, to UAH 1.787 billion.
The bank’s assets in January-September 2019 grew by 10%, to UAH 36.057 billion, in particular loans to customers by 22.4%, to UAH 26.549 billion.
Bank liabilities since the beginning of the year have grown by 9.5%, to UAH 31.316 billion.
The bank’s net worth in January-September 2019 increased by 12.8%, to UAH 4.741 billion. Charter capital remained at the level of UAH 1.223 billion.
Credit Agricole Bank was founded in 1993. Its sole shareholder is Credit Agricole S.A. (France).
Credit Agricole Bank ranked 12th among 76 banks operating in the country as of July 1, 2019 in terms of total assets (UAH 40.033 billion), according to the National Bank of Ukraine.

,

STATE-OWNED OSCHADBANK’S NET PROFIT SOARS 2.6 TIMES

The net profit of state-owned Oschadbank (Kyiv) in January-September 2019 totaled UAH 189.017 million, which is a 2.6-fold rise from a year ago (UAH 72.938 million), according to quarterly financial statements of the bank.
According to the statements posted on the bank’s website, net profit in Q3 2019 amounted to UAH 64.106 million, which is 52.9% more than in Q3 2018.
Net interest income for in January-September 2019 increased 1.2% compared with the corresponding period of 2018, to UAH 4.185 billion.
In January-September 2019, the bank’s assets decreased 4.4%, to UAH 208.109 billion, including a decline of 3.5% in loans issued to customers, to UAH 65.146 billion.
Assets for this period increased 0.4%, to UAH 18.619 billion.
The charter capital for the period remained at the level of UAH 49.725 billion.
Oschadbank was founded in 1991. Its sole owner is the state.
According to the National Bank of Ukraine, as of July 1, 2019, Oschadbank ranked second (UAH 288.339 billion) among 76 banks operating in the country in terms of total assets.

,

STATE-RUN ENERGOATOM DOUBLES NET PROFIT

National Nuclear Generating Company Energoatom in January-September 2019 doubled net profit year-over-year, to UAH 4.251 billion.
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market, its net revenue grew by 10.4%, to UAH 34.774 billion, and gross profit – by 10.8%, to UAH 8.082 billion.
As reported, in January-September 2019, Energoatom reduced electricity production by 0.5% (323.1 million kWh) compared to the same period in 2018, to 60.729 billion kWh. Power plants of Energoatom during this period released 57.02 billion kWh to the market compared with 57.376 billion kWh a year earlier.
In 2018, Energoatom increased its net profit by 21.2% compared to 2017, to UAH 4.632 billion, net income by 14.5%, to UAH 44.055 billion.
Energoatom is the operator of all four operating nuclear power plants in Ukraine. It operates 15 power units equipped with water-cooled power reactors with a total installed electric capacity of 13.835 GW.

,

ARCELORMITTAL TO CHANNEL UAH 11 BLN FROM ARCELORMITTAL KRYVYI RIH’S PROFIT INTO DIVIDENDS

PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) whose major shareholder is the largest steel producer, ArcelorMittal, will channel UAH 10.845 billion into payment of dividends, which will be UAH 2.81 per ordinary registered share.
This decision was taken by shareholders of PJSC ArcelorMittal Kryvyi Rih at an extraordinary general meeting on October 10, the company’s press service said.
The procedure and timing for the payment of the dividends will later be determined by the enterprise’s supervisory board. After that, the funds will be transferred to shareholders. At the same time, it is specified that, according to the Law on Joint-Stock Companies, dividends must be paid within six months from the date of the decision by a meeting of shareholders.
The press service recalls that the last time dividends were paid for 2007, before the 2008-2009 crisis. After that, ArcelorMittal use funds to modernize production and carry out large-scale investment projects. The current dividend payment will not affect the implementation of the investment program. In the next five years, $1.8 billion will be invested in the development of production. Of the amount, about $300-350 million is to be invested in the construction of a pelletizing factory. It will produce pellets that will partially replace sinter as raw materials for blast furnaces. Therefore, the enterprise will be able to close two worn sinter plants and thereby reduce emissions by 50–55%, according to the press service.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. Its staples are long products, in particular, reinforcing bars and wire rods.
ArcelorMittal owns the largest mining and metallurgical plant ArcelorMittal Kryvyi Rih in Ukraine and a number of small companies, in particular PJSC ArcelorMittal Beryslav.

, ,

STATE-RUN PRIVATBANK SEES NET PROFIT RISE BY MORE THAN 5 TIMES IN NINE MONTHS

Nationalized PrivatBank (Kyiv) in January-September 2019 saw net profit rise to UAH 27.4 billion from UAH 5.093 billion for the same period in 2018, which became a new absolute figure for the bank and the entire banking system of Ukraine, according to a press release from the bank.
According to the bank, its net commission income for the nine months amounted to UAH 13.3 billion, net interest income some UAH 14.7 billion.
As reported, the net profit of PrivatBank (Kyiv) in January-June 2019 amounted to UAH 18.3 billion, which is 2.7 times more compared to the corresponding period of 2018 (UAH 6.9 billion).
Net interest income for the six months amounted to UAH 9.8 billion, net commission income some UAH 8.5 billion.
The government of Ukraine on December 18, 2016, referring to the proposal of the NBU and the former shareholders of PrivatBank, the largest of whom at that time were Ihor Kolomoisky and Hennadiy Boholiubov, decided to nationalize this largest financial institution in the Ukrainian market and invested over UAH 155 billion in its capital.
PrivatBank ranked first among 76 banks operating in the country as of July 1, 2019 in terms of total assets (UAH 522.422 billion), according to the National Bank of Ukraine.

,