Category: 9. Business

Banks expect an increase in demand for all types of corporate and retail loans and loan portfolio volumes, NBU data shows. Most banks will increase their corporate and retail portfolios, though their retail portfolios somewhat less. Banks expect a certain deterioration in the quality of… Continue Reading

The EU announced the transfer of the first €1.5B tranche of frozen Russian asset profits to Ukraine. The money will be directed through the European Peace Fund to support Ukraine’s military and the country’s reconstruction. Moreover, the Pentagon discovered an additional $2B in errors in… Continue Reading

Despite all the challenges brought about by the war, and contrary to forecasts, capital markets in Ukraine not only avoided collapse but also persisted in demonstrating slow growth and development. “Although the pace is not as fast as we would like, the market works daily,” said a National… Continue Reading

The Antimonopoly Committee of Ukraine (AMCU) allowed Saggarco Limited (Cyprus) to acquire more than 50% of the shares of the RESPECT insurance company. On April 19, 2024, Saggarco Limited entered into five sales agreements with several shareholders to acquire 96.382% of RESPECT’s shares. At… Continue Reading

The largest Russian private oil company, Lukoil, has increased oil exports through the country’s seaports, as supplies through the Druzhba pipeline to Slovakia and Hungary are currently suspended due to Ukrainian sanctions against Lukoil. As a result, Lukoil added another 340,000 tons of… Continue Reading

The Vinnytsia company Elixir, which privatized the Ust-Danube seaport, plans to make it a hub for supplying mineral fertilizers to Ukraine, the company’s owner, Valery Vihrenko, said. Elixir bought the port to bring fertilizers to Ukraine from its Serbian plant via the Danube River. Vihrenko… Continue Reading

Ukraine halted a run of three interest-rate cuts after an acceleration in inflation prompted policymakers to signal that easing will only be possible to resume next year, reported Bloomberg. The National Bank of Ukraine kept the key rate unchanged at 13%. Experts expected a reduction in… Continue Reading

The NBU predicts the growth of Ukraine’s GDP in 2024 at 3.7% (April’s forecast was 3%). Economic growth in the year’s first half continued, although it has slowed down in recent months due to Russia’s large-scale attacks on the energy sector. However, Ukrainian businesses have adapted… Continue Reading

Fitch Ratings downgraded Ukraine’s long-term issuer default rating (IDR) in foreign currency from CC to C. “Ukraine’s downgrade reflects Fitch’s view that the agreement in principle reached on July 22 between the government and Eurobond holders on the terms of restructuring after the… Continue Reading

New US restrictions imposed in June have put local banks in countries that trade with Russia at a higher risk of so-called secondary penalties, which is delaying or disrupting payments to and from countries like China and Turkey. That’s making it difficult, and sometimes impossible, to… Continue Reading