The state-owned Ukreximbank (Kyiv) provided a EUR 3.2 million loan to Kostopil Glassworks LLC (KSZ) to acquire a stake in the regional brewery PrJSC Khmelpyvo.
“The acquisition of a stake in PJSC Khmelpyvo will be a logical step in diversifying the business and optimizing production chains,” the bank said.
The financial institution emphasized that the financing is intended to support the Ukrainian glass container manufacturer in expanding its business and entering the beer market. The agreement will also contribute to strengthening vertical integration between the production of packaging containers and finished food products.
According to the NBU, as of April 2025, Ukreximbank ranked third in terms of total assets among 60 operating banks with UAH 311.8 billion. The bank’s net profit for the first quarter of 2025 increased by 26% to UAH 2.4 billion.
A large manufacturer of glass containers, Kostopil Glassworks (KZS, Rivne region), is in the process of acquiring PJSC Khmelnytsky Regional Brewery (Khmelpyvo, TM Proskurivske, Khmelnytske), a regional beer producer.
As reported, on May 22, the Antimonopoly Committee of Ukraine granted KZS permission to acquire control over PJSC Khmelpyvo. According to the information disclosure system of the National Securities and Stock Market Commission, the main shareholder of Khmelpyvo, with a 78.0286% stake, is the company’s director, Oleksandr Lysyuk. The company has convened an extraordinary shareholders’ meeting on June 13, at which the supervisory board headed by Lysyuk will be dismissed and replaced by a new one headed by the chairman of the Federation of Employers of Ukraine, Dmytro Oliynyk, who owns 19.46% of KZS and, together with his family, 49.53%.
In 2024, Khmelpyvo increased its revenue by 2.8% to UAH 146.41 million and reduced its net profit by 3.9% to UAH 76.86 million. At the meeting on April 8 this year, the issue of allocating all profits to the technical re-equipment of the company was raised.
At the beginning of this year, its equity capital amounted to UAH 547.97 million, cash – UAH 326.04 million, assets – UAH 559.4 million, and the number of employees – 125.
Kostopil Glassworks is one of the largest industrial enterprises in the Rivne region and is one of the five largest manufacturers of glass containers in Ukraine. The company ended 2024 with a net profit of UAH 76.5 million, which is 6.6 times less than in 2023, and its net income decreased by 18% to UAH 1 billion 467.8 million.
The main products of KSZ are beverage containers (91% of last year’s production), with bottles accounting for 9%. According to the plant, last year 51% of its products (UAH 755.3 million) were exported, in particular to Poland, Hungary, Romania, Bulgaria, Slovakia, Moldova, Lithuania, Latvia, and Estonia.
KZS reported that it plans to increase glass container production by 10-15% annually and increase sales accordingly. As of early 2025, the plant employed 503 people.
According to YouControl, Oliinyk owns 19.46% of KZS LLC, his family members Tetyana, Kyrylo, and Ivan Oliinyk own 16.27% and 6.9% respectively, another 22% belongs to the Bulgarian company Fisherman Investments, 9.06% to Andriy Rybitsky, 4.85% each to Anatoliy Kucheruk, Leonid Smilyanets, Andriy Filimonuk, and a private enterprise, the Sava firm.
State-owned Ukreximbank (Kyiv) increased its net profit in the first quarter of 2025 by 26%, or UAH 508.6 million, to UAH 2.4 billion compared to the first quarter of last year, becoming one of the three most profitable banks during this period.
According to the bank’s report on its website, its net interest income increased by 42.5%, or UAH 686.5 million, to UAH 2.3 billion, while net commission income increased by 4.4%, or UAH 12.6 million, to UAH 301.4 million.
The bank’s total assets for January-March 2025 increased by 0.3%, or UAH 945.5 million, to UAH 292 billion, while total liabilities decreased by 0.4%, or UAH 1 billion, to UAH 278.8 billion.
At the same time, the amount of customer funds in Ukreximbank increased by 1.3%, or UAH 3.26 billion, to UAH 247.3 billion, while bank funds decreased by 17%, or UAH 393 million, to UAH 1.92 billion.
In the first quarter of this year, Ukreximbank increased its equity capital by 17.6%, or UAH 1.9 billion, to UAH 13.3 billion.
“During the first three months of 2025, the bank exceeded the expected capital adequacy ratios set by the updated Capitalization Program and complied with the minimum prudential requirements in accordance with the NBU’s requirements,” the report said.
As reported, Ukreximbank ended 2024 with a record pre-tax profit of UAH 5.9 billion, which is 20.1% more than in 2023.
Agro-industrial group of companies Novaagro Ukraine (Kharkiv) has attracted UAH 350 million from Ukreximbank to support agricultural production, the company’s press service reported on Facebook.
“Novaagro Group of Companies continues to actively develop the agrarian direction thanks to the strategic partnership with Ukreximbank, which provided financing in the amount of UAH 350 million in the form of tranche credit lines and bill avalization limits to agricultural companies of the group,” the statement said.
The purpose of using the funds is to ensure the sowing and harvesting campaign, in particular on new areas in Kharkiv region, which became part of the group after the acquisition of assets of AgroGeneration in the fall of 2024.
Novaagro Ukraine added that the realized financing structure will allow the team to flexibly manage financial instruments in accordance with seasonal and production needs.
Novaagro Group of Companies has been operating in the Ukrainian and international markets since 2009. It consists of four operating companies specializing in trading, export of grain and oilseeds, cultivation, warehousing, production and sale of mixed fodder, wheat flour and granulated bran, chicken meat.
“Novaagro” has five elevators with a total capacity of one-time storage of more than 310 thousand tons, feed mill in Chkalovskoye (Kharkiv region), producing 200-300 tons of products per day.
According to the Unified State Register, the ultimate beneficiary of Novaagro Limited is Serhiy Polumisny.
As reported, in October, Novaagro completed the purchase of 56.9% of shares of AgroGeneration S.A., an agricultural holding company.
State-owned Ukreximbank has raised the interest rate on its Eurobonds due November 14, 2029 from November 14, 2024 to 10.45% per annum, according to a stock exchange announcement by the issuer of these Eurobonds, Biz Finance Plc, on Wednesday.
According to it, the interest rate on the loan provided to the bank through the issuance of these Eurobonds has been raised to 11% per annum.
As reported, in November 2019, the bank, through Biz Finance, issued Eurobonds in the form of loan participation notes with a total nominal value of $100 million with a fixed coupon rate of 9.95% per annum and maturity in November 2029 with the possibility of early redemption in November 2024 solely for the purpose of financing the bank’s subordinated debt. Interest is payable semi-annually on May 14 and November 14.
According to Ukreximbank’s reporting, as of the middle of this year, its liabilities under the other Eurobonds issued in 2013, which finally mature on January 22, 2025, amounted to $40.566 million.
These Eurobonds, originally issued in the amount of $600 million and due in 2018, were reprofiled on July 9, 2015, with the following terms: coupon rate of 9.75% per annum; final maturity was extended by 7 years, i.e. to January 22, 2025. At the same time, 50% of the Eurobonds will be redeemed on January 22, 2021, and the remaining 50% of the bonds will be redeemed between July 22, 2021 and January 22, 2025 in eight equal semi-annual installments. In 2020 and 2022, the bank repurchased these bonds for a total amount of $238.006 million at par and canceled them.
Ukreximbank was established in 1992. The sole owner of the financial institution is the state.
According to the NBU, as of September 1, 2024, the bank ranked 3rd in terms of total assets with UAH 299.42 billion among 62 active banks. Its net profit in the first eight months of this year amounted to UAH 5.36 billion, which is 73.4% more than in the same period last year.
State-owned Ukreximbank (Kyiv) is closing its representative offices in the United Kingdom and the United States to optimize operating costs, the issuer said in a statement in the disclosure system of the National Securities and Stock Market Commission (NSSMC).
According to it, the above decisions were made by the supervisory board of the state-owned bank on August 30, 2024.
According to the National Bank of Ukraine (NBU), as of July 1, 2024, Ukreximbank ranked 3rd (UAH 287.18 billion) in terms of total assets among 62 banks in the country.
The net profit of the financial institution in 2023 amounted to UAH 3.25 billion.
State-owned Ukreximbank has successfully sold a pool of land plots for construction in Kyiv region through the OpenMarket electronic trading system (SE SETAM of the Ministry of Justice of Ukraine). The total sale amounted to UAH 28,289,000. These land plots were acquired by the Bank as a result of work with non-performing loans (NPL) and sold at a price higher than the cost of acquiring them, which confirms the effectiveness of the Bank’s actions. In 2023, Ukreximbank’s proactive position and continuous work of the NPL division, despite all the existing obstacles, gave the bank a record result of UAH 2.7 billion in NPL repayments. In total, over the past 10 years, repayment of NPLs amounted to UAH 10.1 billion, 50% of which was received over the past 3 years.
“Our bank demonstrates good results of working with NPLs in 2024. With the sale of this land plot, the total portfolio of the Bank’s repossessed property sold in 1H2024 amounts to UAH 190 million, which confirms the success of the previous year,” said Anatoliy Lola, Director of Restructuring and Recovery Department of Ukreximbank.
The land plots with a total area of 12,755 hectares are located in Bucha district of Kyiv region (Kyiv-Svyatoshyn district). Their intended purpose is for construction and maintenance of a residential building, outbuildings and structures (personal plot). The land plots are located in an open field with a flat terrain, 4 km from the center of Bilohorodka village.
“Our portfolio includes many attractive properties, such as these plots, which will be used for housing construction,” said Pavel Gashkovets, Ukreximbank’s Management Board Member in charge of organizing work with distressed assets. “The bank regularly holds electronic auctions for the sale of property that was collateral for non-performing loans on the principles of transparency and openness. All information about the sale of such property can be found on the bank’s website in the “Currentauctions” section, and the entire list of property available for sale is given in the “Sale of own property” section.”
The village of Bilohorodka is located on the right bank of the Irpin River, 22 km from Kyiv and 8 km from the Tarasivka passenger railway station.
“The land plots have a favorable location and convenient transport links, which provides an excellent opportunity for residential development. We congratulate the bank and the buyer on the successful transaction,” said Oleksandr Mamro, CEO of SE SETAM.
TheOpenMarket auction (SE SETAM of the Ministry of Justice of Ukraine) is a simple and effective means of selling and purchasing property via the Internet. The online auction has been operating throughout Ukraine since 2014, and the total amount of sales since its launch is UAH 22.2 billion.
