Business news from Ukraine

FUIB SEES NET PROFIT RISE BY 23%

The net profit of First Ukrainian International Bank (FUIB, Kyiv) in January-March 2021 amounted to UAH 1 billion, which is 23.3% more than in the same period in 2020 (UAH 810.9 million), the bank said on its website.
According to the report, the bank’s net interest income in the first quarter increased by 20.7% compared to the same period a year earlier, to UAH 2.03 billion, and commission fees – by 5%, to UAH 439 million.
FUIB’s assets in the first three months of the year increased by 12.8%, to UAH 84.877 billion, in particular loans to customers – by 5.5%, to UAH 39.6 billion, and cash and cash equivalents – by 1.5 times, to UAH 21.26 billion.
The bank’s liabilities increased by 15%, to UAH 75.456 billion, in particular, customer funds – by 17%, to UAH 67.3 billion, and debt to other banks – by 35.7%, to UAH 1.84 billion.
The bank’s net worth decreased by 2.7% in three months, to UAH 9.42 billion. The charter capital remained at the level of UAH 4.78 billion.
FUIB was founded in 1991. Rinat Akhmetov is the owner of a significant stake in the bank (indirect participation is 99.9%).
According to the National Bank of Ukraine, as of March 1, 2021, in terms of total assets (UAH 85.516 billion) FUIB ranked seventh among 73 banks operating in the country.

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ALFA-BANK INCREASE NET PROFIT IN UKRAINE IN Q1 BY 3.3 TIMES

The net profit of Alfa-Bank (Kyiv) in January-March 2021 amounted to UAH 977.9 million, which is 3.3 times more than in the same period in 2020 (UAH 295 million).
According to the bank, net interest income for this period increased by 2%, to UAH 1.415 billion, net commissions – by 10.3%, to UAH 821.5 million.
At the same time, the assets of Alfa-Bank in the first quarter decreased by UAH 15 million, to UAH 97.578 billion, in particular the loan portfolio – by 4%, to UAH 45.93 billion.
The bank’s liabilities decreased by 1%, to UAH 86.96 billion, in particular customer funds – by UAH 108 million, to UAH 73.4 billion.
The bank’s capital in the first three months of the year increased by 10.4%, to UAH 10.62 billion. The charter capital remained at the level of UAH 28.726 billion.
As of March 1, 2021, Alfa-Bank ranked sixth in terms of total assets (UAH 109.94 billion) among 73 banks operating in the country.

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NET PROFIT OF STATE-OWNED UKRGASBANK DOWN BY 66%

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.

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STATE-OWNED DEVELOPMENT COMPANY UKRBUD REDUCES NET PROFIT BY 31% IN 2020

The state-owned development company Ukrbud, part of the state-owned development corporation Ukrbud (all located Kyiv), in 2020 reduced its net profit by 31% compared to 2019, to UAH 14.4 million.
According to the company’s annual report in the information disclosure system of the National Securities and Stock Market Commission, its net income decreased by 50.1% and amounted to UAH 62.9 million, gross profit – by 16%, to UAH 26.3 million and operating profit – by 30.1%, to UAH 17.6 million.
Retained earnings of the company increased by 7.5%, to UAH 57.1 million. Current liabilities decreased by 36.2%, to UAH 18.3 million, and there are no long-term liabilities.
In general, the company’s assets last year decreased by 2.2% and amounted to UAH 284.9 million.
The development company Ukrbud was established by the government of Ukraine in 2004. It is part of the state-owned development corporation Ukrbud.
The company is engaged in the design and construction of industrial and civil facilities, as well as training of personnel for the construction industry. Ukrbud includes 11 subsidiaries in Ukraine.
The owner of 100% of the company’s shares, according to the National Securities and Stock Market Commission, as of the fourth quarter of 2020, is the Cabinet of Ministers of Ukraine.
The charter capital of Ukrbud amounted to UAH 193 million as of April 2021.

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DONBASENERGO TO SEND 30% OF NET PROFIT TO PAY DIVIDENDS

PJSC Donbasenergo will send 30% (UAH 8.727 million) of the net profit received at the end of 2020 to pay dividends, the company has told Interfax-Ukraine, referring the results of the shareholders’ meeting held on Monday. Another 70% of last year’s profit will be channeled to the production development fund.
As reported, PJSC Donbasenergo saw a net profit of UAH 29.09 million in 2020 versus UAH 69.997 million of a net loss in 2019.
Donbasenergo owns Starobesheve TPP (located in the occupied territory) and Sloviansk TPP with a total installed capacity of 2.88 GW, including the capacity of Sloviansk TPP of 880 MW. In March 2017, the generating company announced the loss of control over the Starobesheve TPP, as well as part of the structural units located in the temporarily uncontrolled territory.
PJSC Energoinvest Holding owns 60.86% of Donbasenergo shares, another 25% of the company is owned by the state.

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MOBILE OPERATOR KYIVSTAR RECEIVES UAH 10.3 BLN OF NET PROFIT IN 2020

The mobile operator Kyivstar (Kyiv) in 2020 received UAH 10.370 billion of net profit, which is 15.72% more than in 2019, according to the announcement of the operator on holding an annual meeting of shareholders on April 29.
According to it, the company’s retained earnings for the year amounted to UAH 10.384 billion compared to UAH 12.752 billion a year earlier.
“Determine that the accumulated retained earnings of the company as of the end of 2020 are retained earnings subject to further distribution in the form of dividends (annual or interim) or any other use by decision of the general meeting of shareholders of the company,” the draft resolution of the meeting says.
According to the announcement, the long-term liabilities of Kyivstar for the year increased 2.8 times, to UAH 7.012 billion, while the current liabilities by 4.2%, to UAH 8.512 billion, and total debtor indebtedness decreased by 2.6%, to UAH 826 million.
In 2020, the company increased its fixed assets by 14.8%, to UAH 13.824 billion, its total assets increased by 10.74%, to UAH 27.013 billion.
The number of mobile subscribers of the operator in the fourth quarter of 2020 decreased by 1.3% compared to the same period in 2019, to 25.9 million, while the number of fixed-line subscribers increased by 10.9%, to 1.1 million.

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