Business news from Ukraine

UKRAINE STARTS TENDERS TO SELECT CANDIDATES FOR POSTS OF INDEPENDENT MEMBERS OF STATE-OWNED PRIVATBANK, OSCHADBANK, UKREXIMBANK

Ukraine has started a tender to select candidates for the posts of independent members of the supervisory boards of state-owned PrivatBank, Oschadbank and Ukreximbank. According to a posting on the website of the Finance Ministry, the tender was started on April 5 and will be completed before May 10.
As reported, the Finance Ministry early April 2019 selected Pedersen & Partners recruiting company to search for candidates to the post of independent members of the supervisory board of state-owned Oschadbank, Ward Howell Ukraine to search for candidates for state-owned Ukreximbank and Talent Advisors, part of Odgers Berndtson Ukraine, to search for candidates for state-owned PrivatBank.
According to the ministry’s report, candidates who want to take part in the tender must apply to these recruiting companies by April 25.
As reported, the Verkhovna Rada early July 2018 adopted a law on the reform of the supervisory boards of state-run banks, according to which the supervisory board of state-owned banks should consist of nine members. Six of them should be independent, three – representatives of the state, one each from the president, the Cabinet of Ministers and the parliament.

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OSCHADBANK, UKREXIMBANK SELLING GULLIVER SHOPPING MALL FOR UAH 18 BLN

State-run Oschadbank and Ukreximbank have put rights of claim under a loan agreement with Kyiv-based Gulliver shopping mall’s mortgage up for sale through SETAM’s OpenMarket system for UAH 18.177 billion.
The lot includes a 1.14 ha plot of land on Kyiv’s Sportyvna Square, a trading and office complex with a parking lot with a total area of 151,800 square meters, a 0.11 ha plot of land for construction of a new trading and office complex, and 100% of corporate rights in the borrower’s charter capital, says an announcement posted on the trading platform.
The auction is scheduled for October 16. Bids are accepted until October 15.

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STATE-OWNED OSCHADBANK PAYS $32.8 MLN EUROBONDS’ COUPON

State-owned Oschadbank (Kyiv) on September 10, 2018 paid the $32.8 million coupon on restructured $700 million eurobonds in full amount and in accordance with the issue terms, the press service of the bank has told Interfax-Ukraine.
The yield on eurobonds is accrued and paid twice a year – on March 10 and September 10.
As reported, in 2015, Oschadbank restructured eurobonds maturing in 2016 and 2018 for a total of $1.2 billion. Under the agreement, eurobonds were issued for the amount of $700 million due on March 10, 2023 and with the yield of 9.375% per annum, for $332.914 million due on March 20, 2025 and the yield of 9.625% per annum and $167.086 million due on March 20, 2025 and the yield 8.25% per annum.
In addition, eurobonds were issued for $100 million with maturity up to 2024 after restructuring the subordinated loan for the corresponding amount.
Oschadbank was founded in 1991. Its only owner is the state.
Oschadbank ranked second among 84 banks operating in the country on June 1, 2018 in terms of total assets (UAH 236 billion), according to the National Bank of Ukraine.

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STATE-CONTROLLED OSCHADBANK LAUNCHES APPLE PAY SERVICE

State-controlled Oschadbank (Kyiv) has launched the Apple Pay payment service, chairman of the financial institution Andriy Pyshny has reported.
“Oschadbank the fastest in Europe several months ago integrated Google Pay. It has already launched Apple Pay. The future is in smartphones!” he wrote on his Facebook page.
He said Apple Pay is based on security and confidentiality.
“If you add a credit or debit card to Apple Pay, the card number itself is not stored in either the device or Apple servers. You are assigned a unique account number for the device, while it is encrypted and stored in a secure mode in the microchip “Secure Element” of your device. Each transaction is due to the generation of a unique one-time dynamic security code,” he said.
According to Pyshny, to use the possibility of paying with an iPhone, it is not necessarily to have an Oschadbank card: just call the contact center of the bank and get an instant digital prepaid card. It can be connected to Apple Pay and they you can use the application.
According to the press release of Oschadbank, one can pay with Apple Pay in stores using iPhone SE, iPhone 6 and newer models, and also with Apple Watch.

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