Business news from Ukraine

Business news from Ukraine

UKRAINIAN RAIFFEISEN BANK RISES NET PROFIT 0.5% IN H1 2018

The net profit of Raiffeisen Bank Aval (Kyiv) in January-June 2018 totaled UAH 2.72 billion, which is 0.5% more than a year ago (UAH 2.738 billion).
According to a financial report on the bank’s website, net profit in Q2 2018 accounted for UAH 1.371 billion, which is 6.4% more than in Q2 2017.
Net interest-bearing income in H1 2018 grew by 24.3%, to UAH 3.404 billion.
The loan profit of the bank fell by 48.2%, to UAH 510.006 million, and non-interest income – by 15.3%, to UAH 233.123 million.
Non-interest expenses grew by 12.7%, to UAH 1.927 billion.
The bank’s assets rose by 3.2% in H1 2018, reaching UAH 68.411 billion, including loans issued to clients rose by 12.3%, to UAH 41.393 billion.
The charter capital decreased 0.02%, to UAH 6.153 billion and net worth – by 14.9%, to UAH 9.285 billion.
Raiffeisen Bank Aval was founded in 1992. According to its data, as of January 1, 2018 Raiffeisen Bank International owned 68.28% of the charter capital of the financial institution, the European Bank for Reconstruction and Development (EBRD) some 30%.
Raiffeisen Bank Aval ranked fifth among 84 operating banks in terms of assets as of June 1, 2018 (UAH 69.317 billion), according to the National Bank of Ukraine.

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KAN DEVELOPER HAS 10.5-FOLD RISE IN PROFIT IN Q2 2018

KAN LLC, part of KAN Development Group (both based in Kyiv), saw a 10.5-fold rise in net profit in Q2 2018, to UAH 24.8 million. According to an annual report of the company posted in the information disclosure system of the National Commission for Securities and the Stock Market, net revenue in H1 2018 grew 1.6-fold, to UAH 79.4 million, and uncovered loss fell by 6%, to UAH 385.9 million.
Noncurrent liabilities fell by 1.6%, to UAH 579.2 million, and current liabilities decreased 32%, to UAH 277.9 million, total bills receivable narrowed by 42.4%, to UAH 39.9 million.
KAN Development LLC was established in 2001. As of July 2018, the participant of the limited liability company was Deverte Holding GmbH (Austria, 100%).

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OTP BANK UKRAINE EXPECTS TO GET UAH 2 BLN IN NET PROFIT

Kyiv-based OTP Bank expects to post UAH 2 billion in net profit by the end of 2018, Chairman of OTP Bank’s board Tamas Hak-Kovacs has said. “In the first four months of this year, the bank’s net profit amounted to UAH 723 million. Net profit in 2018 may amount to UAH 2 billion. It will entirely be capitalized. This is also part of our strategy – to capitalize profits, therefore this money is additional liquidity, and it is in the Ukrainian hryvnia,” he told Interfax-Ukraine in an interview.
Due to profitable operating activities and the consistent implementation of a balanced financial and credit policy, OTP Bank improved the result of 2017 and posted net profit under IFRS was UAH 1.02 billion.
In Ukraine, OTP Bank acts as the flagship of the OTP banking group, registered by the National Bank of Ukraine. The group also includes LLC OTP Capital assets management company and LLC OTP Leasing. OTP Bank ranked 11th in terms of net assets worth UAH 29.822 billion among 84 banks operating Ukraine as of January 1, 2018, according to the National Bank of Ukraine.

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STATE-OWNED UKRENERGO POSTS UAH 818 MLN NET PROFIT IN Q1

State-owned enterprise Ukrenergo saw its net profit rise by 53.7 times (by UAH 803.162 million) in January-March 2018 compared to the same period last year, to UAH 818.416 million. According to the financial report of the company, its net income for the first quarter decreased by 15.3% (by UAH 219.35 million), to UAH 1.216 billion, gross profit by 32.1% (by UAH 288.714 million), to UAH 610.042 million.
As reported, in January-March 2018 Ukrenergo increased transmission of electricity through trunk networks by 0.5% (145.197 million kWh) compared to the same period last year, to 30.224 billion kWh. At the same time, the cost of the company’s transfer services for the three months decreased by 18.8% (UAH 251.344 million), to UAH 1.087 billion.
Ukrenergo operates trunk and interstate power grids, as well as performs the centralized dispatching of the unified energy system of the country. It is a state enterprise subordinated to the Ministry of Energy and Coal Industry.

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UKRAINIAN ENTERPRISES RAISE PRETAX PROFIT BY 29.5% IN Q1, 2018 – STATISTICS

Enterprises and organizations in Ukraine in January-March 2018 received profit from ordinary activities before taxation in the amount of UAH 132.875 billion, while in January-March 2017 the figure was UAH 102.615 billion, according to the State Statistics Service.
According to the service, in the first quarter of 2018 profitable Ukrainian enterprises received UAH 177.491 billion of profit, which is 13% more than in the same period in 2017.
At the same time, 31.4% of enterprises posted a negative financial result. Their losses in January-March of this year decreased by 18% compared to January-March last year, to UAH 44.617 billion.

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VODAFONE UKRAINE SEES 2.1% RISE IN REVENUE IN Q1 2018, CUTS NET PROFIT BY 31%

Vodafone Ukraine, the mobile communications operator, saw UAH 2.9 billion of revenue in January-March 2018, which is 2.1% more than a year ago.
According to a financial report of the operator published on Wednesday, net profit in Q1 2018 fell by 30.75%, to UAH 367 million.
Operating income before depreciation and amortization (OIBDA) grew by 17.6% year-over-year, to UAH 1.5 billion.
OIBDA margin reached 52.8%, a rise by 7 percentage points (p.p.) year-over-year.
Net profit in Q1 2018 totaled UAH 367 million, which is UAH 163 million less than a year ago. The main reasons for the reduction of profit were the increase in amortization expenses and devaluation of long-term assets in eastern Ukraine.
Subscribers’ revenue in Q1 2018 grew mainly thanks to organic growth of revenue from data transfer. In the period, Vodafone Ukraine increased revenue from data transfer 1.5-fold.
The subscribers’ base reached 20.7 million clients in Q1 2018. The number of data users grew by 1.2 million in a year.
Early 2018 Vodafone Ukraine significantly increased investment in infrastructure – UAH 1.2 billion in Q1 2018, including the cost of 4G licenses, investment in development of 3G and 4G networks.
Today high-speed 4G Internet is provided in 25 cities of Ukraine. Over 1 million clients of Vodafone Ukraine used 4G mobile Internet. 3G coverage is available for over 80% of residents of Ukraine in over 10,000 cities and towns.
Vodafone Ukraine is the second largest mobile communications operator in the country which serviced 20.8 million subscribers as of late 2017.

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