Ukreximbank

The joint-stock company State Export-Import Bank of Ukraine or Ukreximbank (Укрексімбанк) is one of three 100% state-owned systemically important banks in Ukraine (together with Savings Bank and PrivatBank). 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 bank&s;s foreign network of correspondents. Bank network includes 83 branches, 692 ATMs and SSTs (as of January 2017) 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. During the political and economic crisis of 2014-15, Ukreximbank suffered the largest losses in its history. In 2014, they reached ₴9.8 billion, and in 2015 they increased to 14.1 billion. In the bank&s;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. In April 2015, the bank successfully extended its 2015 eurobonds The bank posted $561 million in loss in 2015, which was 25.6% up on the $446 million loss of 2014. In 2019, the bank received a net profit of ₴1 billion according to the National Bank of Ukraine. In November 2020, the Resolution of the Cabinet of Ministers of Ukraine No. 1085 dated 4 November 2020 entered into force, according to which Ukreximbank changed its full name from a public joint stock company to a joint stock company by amending the Bank&s;s Charter. In 2021, the bank received the largest profit in its history — over ₴2 billion.