Business news from Ukraine

National Bank publishes list of most profitable banks in Ukraine

State-owned PrivatBank in January 2023 received UAH 6.316 billion in net profit, Oshchadbank – UAH 2.242 billion, which amounted to 57% of all profits earned in January by 60 profitable Ukrainian banks.
According to the data published by the National Bank of Ukraine on its website, the top five leaders are also two banks with foreign capital: Raiffeisen Bank – UAH 715.8 million, Sense Bank (formerly Alfa Bank) – UAH 680.5 million and state Ukreximbank – UAH 623 million.
Three other banks with foreign capital: OTP Bank – 617.6 million UAH, Ukrsibbank – 605.3 million UAH, Citibank – 544.9 million UAH, FUIB – 499.1 million UAH and Universal Bank (mono) – 378.5 million UAH were slightly behind.
As for the most loss-making bank in January, it was Forward Bank, owned by Russian Rustam Tariko, which the National Bank considered insolvent on February 8 – UAH 298.3 mln with an increase of reserves by UAH 291.8 mln.
In January, seven banks worked with losses, although the banks formed almost 4 billion UAH of additional reserves (PrivatBank took the biggest losses – 824.4 million UAH).
After the growth of assets of all banks by 91.6 billion UAH in December 2022, in January they increased only by 18.2 billion UAH, including at Ukreximbank – by 14.1 billion UAH, while PrivatBank even decreased by 5.48 billion UAH.
Due to the increase of the National Bank on January 11, the mandatory reserve requirements and permission to form up to half of them at the expense of government bonds, banks’ investment in government securities in the first month of the year increased by 20.9 billion UAH. The largest increase in portfolios was demonstrated by Oshchadbank (UAH 7.397 billion), Raiffeisen Bank (UAH 3.171 billion), FUIB (UAH 2.279 billion), Ukrgasbank (UAH 2.067 billion), Ukreximbank (UAH 1.688 billion), and Universal Bank (mono) – UAH 1.578 billion.

, ,

BORYSPIL INTERNATIONAL AIRPORT BECOMES PROFITABLE

Boryspil International Airport (Kyiv) in May 2021 posted a profit of UAH 40 million, the press service of the airport reported, with reference to head of the supervisory board Volodymyr Zhmak.
“The return of Boryspil airport to profitability is a positive signal for the entire industry. The implementation of the airport’s anti-crisis program ensured cost reductions while increasing revenues, therefore, returned the airport to the level of profitability,” Zhmak said.
He added that the airport is actively working to attract new air carriers.
“Those airlines that operated at the airport before the crisis continue to fly and increase the number of flights. Moreover, new airlines are coming to us in 2021. In particular, Cyprus Airways began regular flights in May, and in June Flynas low cost airline operated its first flight from Saudi Arabia, we expect Eurowings, Wizz Air Abu Dhabi and several other new carriers,” he added.
As reported, Boryspil International Airport, according to the report of ACI Europe (Airports Council International Europe), ranked 14th in the list of the largest airports in Europe in terms of the number of passengers.

, ,