Page 69 - UKRRptApr24

projects (including through the bank's issuance of special bonds and attracting financing from international financial organizations) after the war. Launching such a state bank has been necessary due to Ukraine’s huge losses and restoration needs. According to Hetmantsev, two contenders for this function are Ukrexim and Ukrgazbank. He also explained that with Ukraine still in the midst of the war and for five to ten years after its end, it is appropriate to concentrate the bank's resources on programs that provide preferential financing for businesses and citizens in priority industries.
OTP BANK has the highest index "A" of financial reliability according to the calculations of the FinScore tool from YouControl for the fourth quarter of 2023. Compared to the third quarter, the Bank has risen one step in the rating, thus taking the fourth place.
The updated research includes 40 Ukrainian banks. The highest index "A" indicates a minimal probability of unfavorable financial consequences. Bank_FinScore is a scoring index of a bank's financial reliability calculated by the analytical department of YouControl and based on 25 indicators. Among them are NBU standards and financial ratios that comprehensively reflect the state of liquidity, capital adequacy, profitability, credit, investment and currency risks of the bank. The financial scoring of Ukrainian banks is available at the following link.
Samsung Pay to Stop Supporting Russia’s Mir Card The United States imposed sanctions on Mir’s operator last month as part of sweeping penalties against Moscow.
Ukraine’s partners provide tens of millions of euros in guarantees for Ukrainian business lending. The Polish bank BGK and Ukrainian Kredobank signed an addendum to an agreement. Kredobank will receive an additional €10M in EC guarantees for lending to Ukrainian entrepreneurs. These funds will increase the bank's ability to provide loans to companies operating in Ukraine to €20M, primarily those companies operating in territories liberated from occupation and in areas near the zone of active hostilities. BGK and Kredobank began cooperation within the framework of EU guarantees in January 2023. Through this mechanism, Kredobank allocated more than €12M of additional financing to almost 100 enterprises during the year. Similarly, the EBRD provides state-owned Ukreximbank with an unfunded portfolio risk-sharing instrument for financing Ukraine’s private sector. The instrument can cover up to 50% of Ukreximbank's credit risk for sub-loans up to €40M. This will allow the bank to provide financing to Ukrainian enterprises in the fields of agriculture, industry, construction, transport, pharmaceuticals, and investments of private enterprises in green technologies.
8.2 Central Bank policy rate
Five MPC members proposed to cut key policy rate to 14%, four to 14.5%, two to leave it at 15% The vast majority – nine out of 11 – members of the Monetary Policy Committee (MPC) of the National Bank of Ukraine (NBU) at a meeting on March 13 supported reducing the key policy rate from 15%, while five proposed lowering it to 14% per annum instead of the final decision to limit it to 14.5%, according to the results of the MPC discussion published on Monday.
The key policy rate in Ukraine may drop to 11-12% by the end of the year.
69 UKRAINE Country Report April 2024 www.intellinews.com