During the year of Russia’s full-scale invasion, the net profit of Ukrainian banks has fallen by UAH 53 billion ($1.44 billion) as banks were forced to increase their reserves, according to the report of the National Bank of Ukraine, the country’s central bank, on Feb. 10. At the end of 2022, solvent Ukrainian banks received UAH … Read more
Despite the impact of economic factors caused by the war, the “ATB” group of companies continues to demonstrate sufficiently high rates of growth in the volume of tax payments and fees to budgets of all levels. The long-term leader and driver of the domestic retail industry today demonstrates a clear example of sustainable socially oriented … Read more
The World Bank will provide $50 million in funding to repair Ukrainian transport infrastructure destroyed by Russian attacks, the organization said in a message on its website on Feb. 10. “The World Bank announced today a new $50 million project to repair and restore Ukraine’s transport network to support immediate humanitarian relief and recovery, and … Read more
Consumer price growth in Ukraine accelerated to 0.8% in January 2023, against 0.7% in December and November 2022, but overall the pace of price rises in the country has slowed in recent months, the State Statistics Service reported on Facebook on Feb. 9. The most recent data is significantly below October’s indicator of 2.5% and … Read more
The Cabinet of Ministers has approved the procedure for selling confiscated Russian assets and property, Prime Minister Denys Shmyhal has said. “We already have UAH 17 billion confiscated from Russian banks. And today, we are making another decision toward recovery. It’s a resolution on how the sale of confiscated Russian assets and property will take … Read more
The Ukrainian government is negotiating a cooperation agreement with the largest U.S. bank JP Morgan Chase, and the parties have already signed a memorandum of understanding, Ukraine’s Economy Ministry said in a message on its website on Feb. 9. From the Ukrainian side, the meeting was attended by PM Denys Shmyhal, Economy Minister Yulia Svyrydenko, … Read more
By Jan. 1, 2023, the share of non-performing loans in Ukrainian banks has increased to 38%, largely due to Russia’s full-scale invasion of Ukraine, the National Bank of Ukraine (NBU) reported on Feb. 8. In specific figures, the volume of non-performing loans increased by UAH 87 billion ($2.4 billion) over the last year, to UAH … Read more
Ukraine’s international reserves amounted to $29.9 billion as of Feb. 1, 2023, the National Bank of Ukraine (NBU) reported on Feb. 7. According to the NBU, the central bank’s foreign currency reserves grew by 5% in January, mainly due to inflows to the government’s accounts and spending on servicing and repaying public debt. Meanwhile, forex inflows to … Read more
PJSC ArcelorMittal Kryvyi Rih (AMKR) hopes for an improvement in the situation with power supply in the first half of this year and an increase in production from the current 25% to 50% of the plant’s capacity, CEO Mauro Longobardo has said. “We can’t produce more than 25% because we don’t have enough power. As … Read more
Exports of processed products in the agribusiness segment from Ukraine to Russia in 2022 fell by 93.5% compared to 2021, to $3 million from $46 million, while its supplies of similar products to Belarus fell by 86.7%, to $69 million from $520 million. As reported on the website of the Ukrainian Agriculture Export Association (UAEA), … Read more