Ukreximbank

Ukreximbank, 100% state-owned, is Ukraine’s third largest bank with end-1H16 assets of $6.1bn (12% market share). Corporates, mostly export/import-oriented businesses and state-owned enterprises, account for over 98% of the bank’s loan book.
Year 2022 2023 2025 2029
Issue Volume ($m) 750 125 600 100
Coupon Rate (% p.a.) 9.625% 7.21% 5) 9.75% 9.95%
Coupon Frequency S/A S/A S/A S/A
Maturity date 4/27/2022 2/9/2023 1/22/2025 11/14/2029
Ratings: Moody`s/S&P/Fitch B3/-/B Caa1/-/CCC- B3/-/B -/-/-
Market Price* ($) 102.75 99.00 108.25 100.00
Market YTM* 3.99% 5.82% 5.27% 9.94%
Spread over UST* 214 - 395 943
Note: *Based on bid price.
Year 2019 2020 2021E
Total Assets ($m) 5,925 6,822 -
Total Revenues ($m) 238 59 -
Net Income ($m) 3 (207) -
Equity ($m) 376 366 -
NIM (%) - - -
Equity/Assets (%) 6.3% 5.4% -
ROE (%) 0.9% neg. -
ROA (%) 0.1% neg. -

Latest news about Ukreximbank

May 06, 2021
| Banking

Ukreximbank — Returns to profitability in 1Q21

State-owned Ukreximbank published its 1Q21 results (IFRS separate, unaudited), reporting net profit of UAH 325m ($12m), up from a net loss of UAH 2.1bn ($83m) in 1Q20. Total assets (in UAH terms) dipped by 2% q-o-q (+26% y-o-y), with net loans +3% q-o-q (-13% y-o-y). Customer deposits (in UAH terms) went up 8% q-o-q (+44% y-o-y). NIM (based on net interest-bearing assets and in UAH terms) increased 1.2pp q-o-q to 2.4% (+1.1pp y-o-y). Cost of risk (annualized) stood at virtually zero in 1Q21 (vs. 1.2% provisioning in 1Q20). Cash and cash equivalents rose 3% q-o-q and 21% y-o-y to UAH 51bn ($1.8bn), or 29% of liabilities (+2pp q-o-q, flat y-o-y). The total capital adequacy ratio (NBU) stood at 23.0% (-0.3pp q-o-q and +9.7pp y-o-y).
Mar 25, 2021
| Banking

Ukreximbank — CEO expects return to profits in 2021

The CEO of state-owned Ukreximbank projected in a media interview the bank would earn UAH 1.6bn in net profit this year after booking a loss of UAH 5.6bn in 2020. The bank expects to benefit from recent NPLs resolution efforts, cutting interest expenses through repayment of expensive external funding, reducing personnel (to 2,500 from 3,500 employees), and selling non-core assets such as real estate.
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