The net profit of the state-owned Ukrgasbank (Kyiv) in 2020 amounted to UAH 411 million, which is 66.7% less than in the same period in 2019 (UAH 1.289 billion).
According to the statements posted on the bank’s website, its net loss for the fourth quarter of 2020 amounted to UAH 274 million, while the net profit for the same period in 2019 amounted to UAH 942 million.
Net interest income of Ukrgasbank after spending on loan expenses for the year decreased by 20% year-over-year (to UAH 1.69 billion), while net commission income grew by 16.1% (to UAH 1.2 billion).
The bank’s assets in 2020 increased by 18.1%, to UAH 142.7 billion, including loans to clients and financial leases – by 21.9% (to UAH 47.5 billion), and investments that are estimated at fair value increased by 1.8 times, to UAH 56 billion.
The bank’s liabilities for the corresponding period increased by 1.2 times, to UAH 134.2 billion, including customer accounts – by 1.2 times, to UAH 126.5 billion.
The bank’s equity capital increased by 3.6% over the year, to UAH 8.55 billion, the charter capital remained at the level of UAH 13.84 billion.
Ukrgasbank was established in 1993. The state represented by the Ministry of Finance owns 94.94% of the shares of the financial institution.
According to the National Bank of Ukraine (NBU), as of March 1, 2021, Ukrgasbank in terms of total assets (UAH 149.524 billion) ranked fourth among 73 banks operating in the country.
The loan portfolio of entrepreneurs and small and medium-sized businesses (SMEs) of state-owned Ukrgasbank (Kyiv) in the first quarter of 2021 increased by UAH 1.4 billion, or by 17.5%, to UAH 8 billion, the bank’s press service said on Thursday.
According to the report, the increase in the portfolio is due to the active participation of the bank in the state program Affordable Loans 5-7-9%” and new business lending programs. In particular, as of early April, Ukrgasbank’s portfolio of affordable loans is UAH 2 billion, including UAH 1.2 billion of loans for investment purposes.
The press service said that in the first week of April, the bank increased its portfolio of energy efficiency (warm) loans by UAH 14.6 million, or 7.3%, to UAH 200 million. At the same time, the number of such loans increased by 371, or by 2.8%, to 13,310.
According to the National Bank of Ukraine, as of January 1, 2021, Ukrgasbank in terms of total assets (UAH 151.403 billion) ranked fourth among 73 banks operating in the country.
State-controlled Ukrgasbank, 35% of whose loan portfolio is made up of “eco-projects,” in particular, renewable energy and energy efficient modernization, has expanded the scope of “green” financing to new areas: medicine, waste treatment, energy storage systems, improvement of water use efficiency and cogeneration projects.
“We will develop new directions together with our partner IFC. The funds allocated under the loan agreement will be used to finance just such projects,” the bank said in a press release on its website.
As reported, at the end of January 2021, the International Finance Corporation (IFC) and Ukrgasbank signed an agreement on the allocation of a five-year loan to the bank for EUR30 million with the possibility of converting it into a 20% stake in the capital.
The financial institution reminded that within the framework of “green” financing the matter concerns lending at preferential rates.
According to the National Bank of Ukraine, as of January 1, 2021, Ukrgasbank ranked fourth in terms of total assets (UAH 151.403 billion).
The net profit of Ukrgasbank (Kyiv) in January-September 2020 amounted to UAH 685.19 million, which is twice as much as in the same period of 2019 (UAH 346.98 million), according to the bank’s quarterly reports posted on its website.
According to it, in the third quarter Ukrgasbank’s net profit amounted to UAH 248.01 million, which is 3.5 times more than in July-September 2019 (UAH 70.99 million).
This growth in the indicator for the first nine months of 2020 is due to the bank’s positive result under the item “changes in expected credit losses on other assets and other reserves” (UAH 167.88 million), while last year this indicator was negative (‘minus’ UAH 587.28 million).
The bank’s net interest income (after payments for credit losses) for the nine months decreased by 10.9% compared to the same indicator a year earlier, to UAH 1.28 billion, net and commission income increased by 17.3%, to UAH 868.7 million.
Ukrgasbank’s assets in the nine months increased by 32.1%, to UAH 157.36 billion, in particular loans to customers and finance lease by 9.8% (to UAH 42.81 billion), while cash and cash equivalents decreased by 17.9% (to UAH 38.12 billion).
In addition, the bank’s investments, which are valued at a fair value through other comprehensive income, increased by 2.4 times over this period, to UAH 72.61 billion, and investment property decreased by 1.5 times, to UAH 151.65 million.
State-controlled Ukrgasbank (Kyiv) does not plan to pay dividends for 2019, according to the agenda of an annual remote meeting of shareholders, scheduled for July 7, posted on the bank’s website.
“Given the restrictions established by Article 31 of the law on joint-stock companies, payment of dividends on Ukrgasbank shares won’t be carried out in 2019,” the document says.
According to the agenda, the supervisory board proposes to distribute the profit received by Ukrgasbank in 2019 in the amount of UAH 1.29 billion as follows: UAH 128.9 million (10%) is to be allocated to the reserve fund, and UAH 1.16 billion (90%) to cover losses of the previous years.
Ukrgasbank was established in 1993. The state represented by the Ministry of Finance owns 94.9409% of the shares of the financial institution.
According to the National Bank of Ukraine (NBU), as of May 1, 2020 Ukrgasbank ranked fourth (UAH 148.589 billion) in terms of total assets among 75 banks operating in the country.
State-controlled Ukrgasbank (Kyiv) has issued $13 million and UAH 42.8 million for the construction of a new terminal at Zaporizhia airport, the financial institution’s press service has told Interfax-Ukraine. According to the report, the total cost of building the new terminal amounted to UAH 1.085 billion.
“Further borrowing needs from the borrower have not been announced at the moment,” the press service of Ukrgasbank said.
As reported, in December 2019 Zaporizhia completed the construction of a new airport terminal and in March 2020 they plan to open it for passengers.
Ukrgasbank was established in 1993. The state represented by the Ministry of Finance owns 94.94% of the shares of the financial institution.
Ukrgasbank ranked fourth among 76 banks operating in the country on October 1, 2019 in terms of total assets (UAH 114.133 billion), according to the National Bank of Ukraine.
