Ukreximbank

Ukreximbank, 100% state-owned, is Ukraine’s third largest bank with end-1H16 assets of $6.1bn (12% market share). Corporates, mostly export/import-oriented businesses and state-owned enterprises, account for over 98% of the bank’s loan book.
Year 2025 2029
Issue Volume ($m) 600 100
Coupon Rate (% p.a.) 9.750% 9.950%
Coupon Frequency S/A S/A
Maturity date 1/22/2025 11/14/2029
Ratings: Fitch/Moody`s/S&P CCC- CCC-
Market Price* ($) 80.00 60.00
Market YTM* 30.50% 52.90%
Spread over UST* - -
Note: *Based on bid price.
Year 2020 2021 2022E
Total Assets ($m) 6,822 8,017 -
Total Revenues ($m) 59 248 -
Net Income ($m) (207) 71 -
Equity ($m) 366 446 -
NIM (%) - - -
Equity/Assets (%) 5.4% 5.6% -
ROE (%) neg. 17.5% -
ROA (%) neg. 1.0% -

Company Peers

Latest news about Ukreximbank

May 30, 2023
| Banking

Ukreximbank — Books small profit in 1Q23

According to preliminary data released by the NBU, state-owned Ukreximbank booked net profit of UAH 1.1bn ($31m) in 1Q23, up 11% q-o-q and up from a UAH 2.0bn ($71m) net loss in 1Q22. Total assets (UAH terms) increased by 5.6% q-o-q (+33% y-o-y), with net loans -5.0% q-o-q (+1.3% y-o-y). Customer deposits rose by 12% q-o-q in UAH terms (+74% y-o-y). NIM, based on net interest-bearing assets and in UAH terms, inched down by 0.8pp q-o-q to 1.2%. Annualized cost of risk was positive at 3.1% due to a release of provisions in 1Q23, vs. 1.8% in 4Q22. The total capital adequacy ratio stood at 9.2%, +1.5pp q-o-q and -7.3pp y-o-y.
Feb 14, 2023
| Banking

Ukreximbank — Books profit in 4Q22

According to preliminary data released by the NBU, state-owned Ukreximbank booked net profit of UAH 1.0bn ($42m) in 4Q22 following a UAH 5.4bn ($168m) net loss in 3Q22, recording a net loss of UAH 6.9bn ($213m) for the full year. Total assets (UAH terms) increased by 10% q-o-q (+23% y-o-y), with net loans +0.4% q-o-q (+20% y-o-y). Customer deposits rose by 14% q-o-q in UAH terms (+44% y-o-y). NIM, based on net interest-bearing assets and in UAH terms, inched up by 0.4pp q-o-q to 2.0% (2.7% in 2022, -0.6pp y-o-y). Annualized cost of risk was positive at 1.8% due to a release of provisions in 4Q22, vs. 28% in 3Q22 (14% in 2022, +12pp y-o-y). The total capital adequacy ratio stood at 7.7%, down 3.8pp q-o-q and 10.5pp YTD.
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