In 2017 Poroshenko’s Bank Increased Its Profit 2.5-Fold

Translated by Ollie Richardson

01/11/2017 1/2/3

In nine months of this year, from January to September, the International Investment Bank (IIB) increased its net profit 2.5-fold – to 78,364,000 hryvnia – in comparison with the same period of last year. 
This was stated in the financial statement of the bank, reports “Ukranews”.

For the first quarter IIB worked with a profit of 26.8 million UAH, for the second quarter with a profit of 26.1 million UAH, and for the third quarter with a profit of 25.5 million UAH.

The interest from the income of the bank for the specified period totalled 123 million UAH, net commission fees – 66 million UAH.

The assets of the bank in 2017 grew by 1.3% – to 6.9 billion hryvnia, the credit portfolio decreased by 11.5% – to 1.9 billion hryvnia, and obligations decreased by 1.4% – to 6.3 billion hryvnia.

Index (million/hryvnia) 01.01.2017 01.10.2017 Change (%)
Assets 6,887,100 6,978,900 1.3
Loans to customers 2,120,300 1,875,800 -11.5
Customer funds 6,359,800 6,269,300 -1.4
Total capital 209,500 286,500 36.8

The IIB ended 2016 with a 42.6 million hryvnia profit.

Petro Poroshenko indirectly owns 60% of the bank’s shares. The other major shareholder of the bank is the first deputy chairman of the “Bloc of Petro Poroshenko” faction Igor Kononenko, who owns 14.9% of shares.


President Poroshenko receives one million hryvnia interest from the IIB per month

On the website of NACP (National Agency on Corruption Prevention) new information about essential changes in the property status of the President of Ukraine appeared. Petro Poroshenko specified what interest he received on deposits in August in the IIB.

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It appears that in August Petro Poroshenko received interest at 1,223,000 hryvnia.

“Strana” calculated how much for this year President Poroshenko received in interest on bank deposits.

Owners of essential shares in the bank, photo:

Besides this, Poroshenko and Kononenko appear in the statute of the public join-stock company “Closed Non-Diversified Corporate Investment Fund ‘Prime Assets Capital'”, the owner of which is Poroshenko, and the head is his father Aleksey.

According to the electronic declaration of the president for 2016, in the accounts of the IIB are 80,780 hryvnia, $25,920,000, and €9885. His wife Marina has two contributions here: 115,170 hryvnia and €4300. For all of 2016 he received 11,920,000 hryvnia from interest on deposits.

We don’t know how much of the President’s money remains in this bank at the moment, but the interest can be counted thanks to the information on the website of NACP. As it appears, in 2017 in 8 months the sum from interest was 9,671,000. It is known only that from January to April he received from interest on two deposits, but now the President has five.

If to break down the months, then the made interest is (in hryvnia): January – 1,093,051; February – 664,993; March – 909,807; April – 865,444; May – 1,252,884; June – 1,199,243; July – 1,231,190; August – 1,223,532.

I.e. Poroshenko receives on average per month about one million hryvnia in interest.


Poroshenko and Akhmetov are the owners of the largest number of companies in Ukraine

The richest person in Ukraine Rinat Akhmetov appears among the owners of 303 Ukrainian companies, which is a record for businessmen in Ukraine, reports Opendatabot.

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The current President of Ukraine Petro Poroshenko, who appears among the co-owners of 76 different companies, including regional branches of Roshen (the President earlier gave the holding company to a “blind trust”), the shipbuilding plant “Forge on Rybalsky”, the International Investment Bank, and claims second place in the ranking of owners with the greatest number of companies in Ukraine.

According to the service, Dmitry Firtash (72) and Igor Kolomoisky (45) also are among the owners of the greatest number of companies in Ukraine.

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