Business news from Ukraine

CITIBANK POSTS UAH 988 MLN NET PROFIT IN UKRAINE

The net profit of Kyiv-based Citibank in January-June 2019 reached UAH 988.495 million that is by 57.4% more than in the same period in 2018 (UAH 627.989 million), the bank said in its report.
Its net interest-bearing income for the six months came to UAH 968.718 million, a rise of 47.2% year-over-year.
The total assets of the bank over the period decreased by 2.7%, to UAH 24.161 billion, including 23.5% drop in the credits and debts of clients, to UAH 5.475 billion.
The report says that liabilities of the bank fell by 1.7%, to UAH 22.153 billion.
The bank’s charter capital remains the same in the first half of the year and totals UAH 200 million, net worth over the period reduced by 12.6%, to UAH 2.008 billion.
Citibank was founded in 1998. It is a subsidiary of the American-based Citibank NA.
The largest shareholders of the financial institution on January 1, 2018 were Citibank Overseas Investment Corporation (67%) and Citicorp Leasing International LLC (33%).
Citibank ranked 15th among 77 banks in terms of total assets on April 1, 2019 (UAH 22.890 billion), according to the National Bank of Ukraine.

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CREDIT AGRICOLE BANK SEES 4.5% IN NET PROFIT IN H1

The net profit of Credit Agricole Bank (Kyiv) in January-June 2019 amounted to UAH 824.944 million, which is 4.5% more than in the same period of 2018, according to a quarterly report of the bank.
According to the report, posted on the website of the financial institution, a net interest income in the first half of this year increased by 12.6% compared with the corresponding period of 2018, to UAH 1.198 billion.
The bank’s assets grew by 15%, to UAH 37.707 billion, in particular loans to customers by 13.8%, to UAH 24.689 billion.
The liabilities of the bank since the beginning of the current year have increased by 17.2%, to UAH 33.498 billion, net worth by 0.2%, to UAH 4.209 billion.
Charter capital in the first half remained at the level of UAH 1.223 billion.
Credit Agricole Bank was founded in 1993. Its only shareholder is Credit Agricole S.A. (France).

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ALFA-BANK SEES NET PROFIT RISE BY 2.3 TIMES IN H1

Alfa-Bank’s net profit (Kyiv) in January-June 2019 amounted to UAH 909.674 million, which is 2.3 times more than in the same period of 2018, according to a quarterly report of the bank.
According to the report posted on its website, the net interest income of the bank in the first quarter of this year increased by 16.6% compared with the corresponding period of 2018, to UAH 2.007 billion.
Assets for six months increased by 4.2%, to UAH 62.876 billion, while loans to customers decreased by 1.4%, to UAH 31.999 billion.
Since the beginning of the year, the bank’s liabilities have increased by 2.9%, to UAH 56.922 billion, its net worth rose by 18.1%, to UAH 5.954 billion, charter capital remained at the level of UAH 12.179 billion.
Alfa-Bank was founded in 1993. ABH Holding also includes Alfa-Bank in Ukraine, Belarus, Kazakhstan, Russia and Amsterdam Trade Bank N.V. The subsidiaries of ABHH also operate in Cyprus and the UK.

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FERREXPO SEES 77.6% RISE IN NET PROFIT IN H1

Ferrexpo mining company with assets in Ukraine in H1 2019 reported $270.35 million in net profit, which is 77.6% higher than the same period in 2018.
According to the financial statements posted by the company on the website of the London Stock Exchange (LSE), higher iron ore fines prices and an increase in sales volumes account for the increase.
Ferrexpo’s revenue was 28% up and amounted $787 million, while EBIDTA increased 59% to $372 million.
“During the period we continued to benefit from strong pricing for our high-grade iron ore pellets, which helped deliver healthy cash flows. This enabled us to allocate capital to further reduce debt, increase organic investment in our assets to drive medium term growth and declare a record interim dividend to shareholders,” Ferrexpo Non-Executive Chairman Steve Lucas said.

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NET PROFIT OF UKRAINIAN BANKS SKYROCKETS IN H1

The net profit of solvent banks in Ukraine in January-June 2019 amounted to UAH 31 billion, which is 3.7 times more than in the same period last year (UAH 8.3 billion), the NBU said on its Facebook page.
The NBU pointed to three factors of growth in bank profits: a 20% increase in net interest income of banks, to UAH 39 billion, a growth in net commission income by 17%, to UAH 21 billion, and a positive result from revaluation and from transactions on currency sale and purchase – UAH 10.4 billion.
According to the NBU, there were 76 operating banks in Ukraine as of July 1, 2019.

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NET PROFIT OF ING BANK IN UKRAINE UP BY 71%

The net profit of ING Bank Ukraine in January-June 2019 amounted to UAH 366.478 million, which is 71.3% more than in the same period in 2018 (UAH 213.894 million), the bank reported in a statement published on its website.
Net interest income of the bank for the first six months of this year increased by 13.6% compared with the corresponding period last year, to UAH 526.102 million.
Its assets since the beginning of the year decreased by 2.4%, to UAH 10.684 billion, loans to customers by 24.8%, to UAH 6.418 billion.
The bank’s liabilities from the beginning of this year have decreased by 1.8%, to UAH 6.742 billion.
Charter capital in the first half of the year remained at the level of UAH 731.298 million, while net worth was down by 3.5%, to UAH 3.942 billion.
ING Bank Ukraine was founded in 1997. By January 1, 2019, its sole shareholder was ING Bank N.V.
ING Bank Ukraine ranked 21st among 77 operating Ukrainian banks as of April 1, 2019 in terms of net assets (UAH 11.347 billion), according to the NBU.

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