State-owned Ukreximbank (Kyiv) plans to reduce its presence in small towns and focus on interaction with large clients, Chairman of the bank’s board Yevhen Metsger said.
“We will focus on the model of optimizing our castes. This is a decrease in presence in small towns. We will remain in regional centers in order to participate and interact only with large clients,” he said during the Ukrainian Investment Roadshow on Tuesday.
As reported with reference to Deputy Governor of the National Bank of Ukraine (NBU) Yuriy Heletiy, the Cabinet of Ministers on December 9 plans to approve the strategy of Ukreximbank.
The state-owned Ukreximbank (Kyiv) and the Export Credit Agency (ECA) have signed a cooperation agreement to stimulate the export of goods, works and services of Ukrainian origin, the bank’s press service said on Monday, November 16.
“For the first projects under this agreement, we plan that the bank will provide Ukrainian exporters with financing of operating capital in the amount of up to UAH 5 million and for a period of up to two years for the production of goods and the sale of works and services for export purposes,” the press service quotes chairman of the board of the bank Yevhen Metsger.
According to him, within the framework of the project, exporters will go through an accelerated decision-making procedure, they will be subject to reduced collateral requirements, which, among other things, can be ECA insurance coverage for up to 85% of the loan or limit.
“The conditions for implementation of insurance compensation by the agency will be determined separately for each insurance contract after the assessment of the project. It is assumed that insurance rate size will be set depending on the loan term and may also be included in the export loan amount,” chairman of the ECA board Ruslan Hashev said.
Ukreximbank was established in 1992, the state is the only owner.
According to the National Bank of Ukraine, as of October 1, 2020, Ukreximbank ranked third in terms of total assets (UAH 226.634 billion) among 74 banks operating in the country.
State-controlled Ukreximbank (Kyiv) with the assistance of the World Bank has provided a $22 million loan to Protein-Invest vegetable oil producer.
According to a report on the bank’s website, $14 million was used to refinancing an investment loan, and the company will receive another $8 million as part of a sub-project for the purchase of soybean seeds for further processing.
“Protein-Invest plant is increasing its production capacity, taking into account the global tendencies of increasing the consumption of oilseeds. To meet the needs of the enterprise in a sufficient volume of working capital for the purchase of raw materials, the bank made the most of the program of the International Bank for Reconstruction and Development. The sub-project worth $ 8 million was approved for the project of access to long-term financing, a mandatory criterion for the participation of enterprises in which is an export-oriented activity or the attraction of local supply chains to this direction,” board member of Ukreximbank Oleksandr Ihnatenko said.
Protein-Invest enterprise has a soybean oil extraction plant with a capacity of 700 tonnes per day. It supplies vegetable oil and high-protein meal to the market of Ukraine and other countries, which are further used in the food industry and for the manufacture of animal feed. Production was launched in the village of Dunayivtsi, Khmelnytsky region, in 2019.
According to the unified state register of legal entities and individual entrepreneurs, t
The state-owned Ukreximbank (Kyiv) provided a EUR 500,000 loan to Nutsi LLC, which specializes in the sale of walnuts and pumpkin seeds, to export the 2020 harvest, the bank’s press service said on Thursday.
According to the bank, Nutsi has an extensive network of points to purchase nuts and seeds throughout Ukraine and exports raw materials throughout Europe.
According to the unified public register of legal entities and private entrepreneurs, Viacheslav Yanchiy is the ultimate beneficiary of Nutsi LLC, the size of the charter capital of the company is UAH 44,000.
Ukreximbank was established in 1992, the only owner is the state.
According to the National Bank of Ukraine, as of July 1, 2020, in terms of total assets, Ukreximbank ranked third (UAH 226.729 billion) among 75 banks operating in the country.
Canadian company Black Iron, which is implementing the investment project to create a new iron ore production facility in Kryvy Rih (Dnipropetrovsk region), has announced its decision to accelerate the expiry date of the common share purchase warrants dated March 29, 2019 and April 5, 2019.
The company said in its press release on July 30 that the warrants were issued in connection with a private placement of units, with each share purchase warrant being exercisable into one additional common share of the company at a price of $0.09 per share until March 29, 2022 and April 5, 2022, as applicable.
“The Warrants are subject to the right of the Company to accelerate the expiry date of the Warrants if the Company’s common shares close at or above $0.15 per share for more than 10 consecutive trading days on the Toronto Stock Exchange (the “Acceleration Event”). The Company is entitled to accelerate the expiry of the Warrants to that date that is 30 business days from the date of issuance of a news release announcing the exercise of the acceleration right,” it said.
Black Iron also noted that the press release constitutes notice to the holders of warrants that the Acceleration Event has occurred and the company has elected to accelerate the expiry date of the Warrants. This notice only affects the warrants dated March 29, 2019 and April 5, 2019 and not any other warrants the company has issued.
In addition, it is reported that Black Iron’s management have recently initiated discussions with institutional investors on a royalty that could contribute materially to the funding required for project construction and are receiving strong interest.
“Negotiation of a Heads of Agreement on the commercial terms to be included in a binding contract for a high potential $60 million investment in exchange for being awarded the construction contract for the Shymanivske project have concluded positively with one company and are well advanced with a second. Further details on this will be disclosed in due course noting that a binding contract would only be entered into with only one of these two companies, should the parties reach an agreement, who will then lead the future planned construction of the project,” the company said.
State-controlled Ukreximbank (Kyiv) as a financial partner of the Big Construction project has provided 68 bank guarantees over the past three months to ensure tender offers and guarantees for fulfilling contractual obligations of road construction enterprises, the bank’s press service has said.
“We have simplified a lot of procedures for road workers, reduced the time for making decisions. And as a result, today the bank with a whole range of financial instruments in the equivalent of hundreds of millions of hryvnias ensures the timely execution of work of all companies involved in the construction and reconstruction of roads of state and local significance,” a member of the board of Ukreximbank, the curator of the corporate business, Oleksandr Ihnatenko, said.
According to the report, in July, with financial support from Ukreximbank, repair and construction work is carried out at more than 200 facilities in Ukraine. It is specified that next sections of updated roads with a length of over 740 km will soon be commissioned.
Ukreximbank was established in 1992, the state is the sole owner.
According to the National Bank of Ukraine, as of July 1, 2020, Ukreximbank ranked third (UAH 220.708 billion) among 75 banks operating in Ukraine.
