Page 45 - UKRRptAug19

8.1.4 Bank news
Andriy Volkov, the ex-head of the Ukrainian operations of Russia’s Alfa-Bank, is going to purchase Prominvestbank, the local subsidiary of Russia's state-owned lender VEB , at an auction in August branded by VEB as "illegal", using companies affiliated with his investment banking boutique Investohills. According to the Ukrainian National Securities and Stock Market Commission, Volkov-controlled Financial Company (FC) Geneva and Yevropeiske Oshchadne Tovarystvo are seeking to take part in the auction, news agency Interfax reported on July 26 Earlier in July, the Kyiv-based PFTS Exchange said that a stake of Prominvestbank amounting to 99.7726% had been put up for auction on August 28. The starting price of the stake is UAH532.099mn ($2.1mn). Last week, VEB accused the Ukrainian authorities of "expropriation" of its local subsidiary , Prominvestbank, via "an illegal auction".
Kyiv-based state-owned Ukreximbank's net profit in January-June 2019 amounted to UAH862.153mn, which is 27% more than for the same period in 2018 (UAH679.127mn), the bank said in a statement on its website. According to the report, the bank's net interest income for the first half of 2019 decreased by 10.5% compared to the corresponding period last year, to UAH1.003bn, while commission income increased by 13.7%, to UAH530.914mn. Assets since the beginning of 2019 have shrunk by 6.2%, to UAH151.661bn, loans issued to customers decreased by 7.5% to UAH67.008bn. Bank liabilities from the beginning of this year decreased by 6.3%, to UAH143.582bn. The bank's charter capital in the first half of the year remained at UAH38.730bn, while its total equity capital decreased by 4.3%, to UAH8.078bn.
45 UKRAINE Country Report August 2019 www.intellinews.com