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according to the National Bank of Ukraine (NBU). Privatbank posted a net profit of UAH5.356bn ($190mn) for the first nine months of this year , the bank reported on October 19 -- the first profit the bank earned since government nationalised Privatbank in December 2016 after it failed to fulfil a three-year recapitalisation plan .
Russia's debt before Ukraine’s second biggest lender Oschadbank will grow by $97,000 daily in case of delay in compensation of $1.3bn for losses caused by the illegal military annexation of Crimea in 2014, according to the lender's head Andriy Pyshny. Ukraine's state-owned lender Oschadbank filed a lawsuit in August 2016 with claims for the recovery of lost assets and remuneration for the lost of business and payable interest caused by Russia’s take over of the peninsula. The move followed another Oschadbank lawsuit worth UAH15bn ($589mn) filed in 2015. Earlier, the Ukrainian leadership urged all Ukrainian state-owned companies to follow the example of Oschadbank and recover damages for the annexation of Crimea and the loss of Ukrainian property. The ruling makes Oschadbank the first fully state-owned company to have won compensation from Russia owing to its military aggression against Ukraine, the bank highlighted, calling upon other state and private entities to follow in its path, the lender said in a statement on November 26.
The National Bank of Ukraine (NBU) has declared the Ukrainian operations of Russia's state-owned VTB Bank insolvent following weeks of asnowballing liquiditycrisis, theregulatorsaidinastatementpublishedon November 27. "Due to VTB Bank owners' failure to take real steps to prevent insolvency, as well as due to a lack of adopted and realistic measures to improve liquidity, the NBU decided to recognise VTB Bank insolvent," the statement reads. Over the past weeks, the Ukrainian operations of VTB Bank has introduced restrictions on withdrawal of cash in the national and foreign currencies due to a decrease in liquidity caused by September's ruling of the Kyiv court of appeals to freeze the lender's assets, which deprived the bank of the opportunity to replenish liquidity by selling mortgaged property and assets acquired in foreclosure. The ruling to seize the shares of Ukrainian subsidiaries of Russian state-owned banks Sberbank, VTB and VEB followed a claim filed by 17 companies and one person, ex-chairman of the board of nationalised PrivatBank Oleksandr Dubilet, that lost their assets in Crimea as a result of its annexation by Russia in 2014. On November 5, the National Bank of Ukraine (NBU) said in a statement that the regulator observed "a certain decrease in liquidity" at VTB Bank, "which has developed along the process of winding down the operation of VTB and intensified by the decision of the Kyiv court of appeal [...] on freezing of assets of the financial institution".
The High Court of Justice in London has recognized the claim of PrivatBank (Kyiv) against ex-owners Ihor Kolomoisky and Hennadiy Boholiubov, as well as the companies related to them, inconsistent with its jurisdiction . According to a press release of the plaintiff, the court made the decision at a meeting on November 23. "Despite the fact that the judge recognized the bank as a victim of large-scale fraud... he concluded that an English court does not have jurisdiction to consider the bank's claim against its ex-owners," the document states. At the same time, it notes that this court ruling is only the first stage of the process and PrivatBank received permission to appeal it.
The National Bank of Ukraine (NBU) approved the terms under which China's UnionPay International payment system can operate in Ukraine,
53 UKRAINE Country Report December 2018 www.intellinews.com