State Export-Import Bank of Ukraine

The joint-stock company State Export-Import Bank of Ukraine or Ukreximbank (Ukrainian: Укрексімбанк) is one of three 100% state-owned systemically important banks in Ukraine (together with Savings Bank and PrivatBank).[3]

JSC «Ukreximbank» (Ukrainian: «Укрексімбанк»)
TypeJoint-Stock Company
IndustryBanking, investment
FoundedJanuary 3, 1992 (approved by NBU on 23 January 1992) [1]
FounderGovernment of Ukraine
Headquarters
Kyiv
,
Ukraine
Key people
Serhiy Yermakov (Acting Chairman of the Board)
ServicesFinancial services
UAH 200.6 million (2013)[2]
Total assets UAH 93.3 billion (2013) [2]
Owner100% Government of Ukraine
Websitewww.eximb.com/eng/
Footnotes / references
All figures annualized for 2017

The bank was founded in January 1992 with its headquarters in Kyiv. Bank services a considerable proportion of export and import activities. It acts as the sole financial agent of the Government of Ukraine with respect to loans from foreign financial institutions, which are originated, borrowed or guaranteed by Ukraine. Ukreximbank has the widest amidst Ukrainian banks foreign network of correspondents. Bank network includes 83 branches, 692 ATMs and SSTs (as of January 2017)[4] covering all regions of Ukraine. Ukreximbank also has offices in London and New York.[5]

According to the British magazine The Banker, in 2014 Ukreximbank ranked eleventh in the ranking of the largest banks in Central and Eastern Europe and 388th in the ranking of the top 1,000 world banks.[6]

During the political and economic crisis of 2014-15, Ukreximbank suffered the largest losses in its history. In 2014, they reached 9.8 billion hryvnias, and in 2015 they increased to 14.1 billion. In the bank's report for 2015, the main reasons for such losses are the depreciation of assets due to the economic crisis and losses from exchange rate differences on foreign currency transactions.[7]

In April 2015 the bank successfully extended its 2015 eurobonds [8] despite objections from a group of bondholders including Bence Sardi that advocated the full repayment of the notes in time.[9] The bank had the capacity to pay, but refused, requesting extension on the grounds the government needed to adhere liquidity targets specified in the IMF request for aid.[10]

The bank posted $561 million in loss in 2015, which was 25.6% up on the $446 million loss of 2014.[3]

In 2019, the bank received a net profit of ₴1 billion according to the National Bank of Ukraine.[11]

In 2021, the bank received the largest profit in its history - over two billion UAH.[12]

  • Ukreximbank's head office in Kyiv
  • The Lviv office of Ukreximbank
  • Ukreximbank office in the city of Ivano-Frankivsk
  • Ukreximbank Lutsk local office
  • Ukreximbank office in Uzhhorod, western Ukraine

See also

References
  1. "National Bank of Ukraine. Banks dictionary. Ukreximbank".
  2. Ukreximbank. Fact Sheet. Retrieved August 27, 2014.
  3. State-run Ukreximbank posts UAH 14 bln in loss in 2015, UNIAN (30 April 2016)
  4. (in Ukrainian) Number of branches and ATMs as of January 1, 2017, National Bank of Ukraine
  5. Ukreximbank. Profile. Retrieved August 27, 2014.
  6. "ПриватБанк вошел в ТОП-10 банков Восточной Европы". finance.bigmir.net (in Russian). Retrieved 2020-06-03.
  7. Річна консолідована фінансова звітність за 2015 рік разом зі звітом незалежного аудитора eximb.com, процитовано: 20.07.2016
  8. Extension of 2015 notes.
  9. Initial refusal of restructuring proposal. Retrieved April 15, 2015.
  10. Natalie Jaresko on restructuring. Retrieved March 27, 2015.
  11. "НБУ назвав найбільш прибуткові та збиткові банки за 2019 рік - FINBALANCE. Все про економіку та фінанси". finbalance.com.ua. Retrieved 2020-06-03.
  12. "Державний банк відзвітував про рекордний прибуток". Економічна правда (in Ukrainian). Retrieved 2022-01-10.
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