News
The National Bank of Ukraine approved Andriі Kravets as the Chairman of the Management Board of JSB “UKRGASBANK”. Mr. Kravets has taken the office starting from 16 November 2020.
Today UKRGASBANK has made a remarkable one hundredth transaction for Ukrainian business under trade finance limit provided by the EBRD. The cooperation with our international partner started in summer 2019 with the limit of USD 40 million. Thanks to active work in supporting our customers international business, the limit was increased up to USD 170 million in spring 2020. So far, the Bank has already carried out transactions worth more than USD 100 million.
Supervisory Board of JSB “UKRGASBANK” during its meeting on 02 November 2020 unanimously has decided to appoint Mr. Andriі Kravets as the Chairman of Management Board of JSB “UKRGASBANK”.
Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of UKRGASBANK at 'B' with a Stable Outlook. The rating is in line with the Fitch's current sovereign credit rating for Ukraine.
According to the National Bank of Ukraine, UKRGASBANK is the leader of the Ukrainian banking sector in assets growth.
UKRGASBANK holds a leading position among state-owned banks in providing loans to Ukrainian SMEs under “Affordable Loans 5-7-9%” program. The Bank has issued UAH 1 billion of “affordable loans”, 80%of which were directed towards investment purposes.
Exactly one year ago, on 22 September 2019, more than 130 banks in the presence of the UN Secretary General signed the first-ever global sustainability framework for the banking industry: the UN Principles for Responsible Banking. Signatories commit to align their business strategy and practice with the Sustainable Development Goals set in 2015 by the United Nations General Assembly and the goals of the Paris Climate Agreement.
UKRGASBANK is an absolute leader in providing affordable loans "5-7-9%" for Ukrainian SMEs. Currently, the Bank has granted UAH 500 million of investment loans "5-7-9%" to finance long-term high-potential projects.
For seven months of 2020, net profit of UKRGASBANK has grown to UAH 554 million. This is almost twice as much as profit for the respective period of the previous year (UAH 288 million).
Net profit of Ukrgasbank has grown to UAH 437 million, year to date. This is 1.6 times more, compared to the same period last year.
The United Nations Industrial Development Organization (UNIDO) and JSB “UKRGASBANK” have signed a contract that will enable the launch and operation of a USD 1.5 Million Loan Guarantee Fund as special financial mechanism within the framework of the UNIDO-GEF project “Introduction of Energy Management System Standard in Ukrainian Industry”. Supported by national stakeholders, and cross-guaranteed by Citibank Europe PLC, the Loan Guarantee Fund is foremost aimed to facilitate industrial companies with getting access to capital for implementation of energy management systems in line with ISO 50001 and other energy efficiency measures. The Loan Guarantee Fund is the first and one of the kind guarantee based financial mechanism launched by a UN agency with a selected financial partner in Ukraine.
State-owned UKRGASBANK has earned UAH 404 million profit for 5 months 2020. This is 1.6 times more compared to the same period of 2019.
UKRGASBANK efforts to support international business of its clients brought new results. For the second time in less than a year of cooperation with the EBRD under the Trade Facilitation Program (TFP), we managed to increase the trade finance limit. This time, it has more than doubled and now totals USD 170 million.
Since the beginning of the year, state-owned UKRGASBANK has earned UAH 381 million profit, which surpasses the last year results more than 1.6 times. Last year, net profit for the same period totaled UAH 227 million.
The International Finance Corporation (IFC), a member of the World Bank Group, named the state-owned Ukrgasbank the Best Issuing Bank in Eastern Europe in 2019. The bank received this high recognition for its achievements in IFC’s Global Trade Finance Program, which we joined in the fall of 2017.
UKRGASBANK continues to support its clients' foreign trade activities, thus steadily expanding its portfolio of trade finance deals. Thus, according to the results of the first quarter of this year, the volume of such deals increased to more than 14 billion UAH, which is 30% more than at the beginning of January.
Assets of the Bank totaled UAH 140 million as of March 1, 2020 posting a growth of UAH 20.7 billion for the first two months of 2020.