Daily monitor

Ukrainian banks are beginning to post their 1Q2009 results. The aggregated net loss of the Ukrainian banking system reached UAH 7 bln and most of the banks are disclosing losses stemming from high provision expenses, but some of them are posting profits.

Mriya [MAYA GR, U/R], an agricultural holding with a land bank of 157.5 thsd ha,, plans to invest a total of USD 50 mln into the construction of silo facilities before 2011.

Poltavkhimmash [PHMSH UZ, U/R], a rapidly growing railcar tank producer in Ukraine, announced its financial results for 2008. According to a company press release, PHSMSH increased net sales by 44% to UAH 309.3 mln (USD 58.4 mln), and net income grew by 6.3 times to UAH 30.1 mln. (USD 5.7 mln).

Kryukiv Railcar [KVBZ UZ, U/R], based in Kremenchug (Poltava Oblast), decided to pay dividends for 2008. KVBZ’s EPS’08 is UAH 3.49, which is a 50% increase compared to the previous year; DPS’08 is UAH 0.5, which is 500% higher than DPS’07. Dividends will be paid out over May-June 2009.

Dneprovagonmash [DNVM UZ, U/R], a large domestic carriage producer owned by TAS Group, has announced plans to decrease railcar production by 42.21% to 1880 units due to low demand for new railcars in the CIS.

According to an announcement from the National Bank of Ukraine, the BOP deficit in March shrank to USD 1.29 bln, compared to USD 2.14 bln in February 2009. The 1Q09 BOP deficit was USD 5.23 bln, compared to USD 0.14 bln in 1Q08.

According to an announcement from the IMF’s Managing Director, Dominique Strauss-Kahn, the Fund is planning to soften requirements for the budget and financial policies of Ukraine and other countries that the IMF is cooperatng with on anti-crisis activities. The details were not revealed, however.

Seven oblenergos and one power generating company, Dniproenergo [DNEN UZ, U/R], reported their 1Q09 financials yesterday.

At its AGM held on April, 24 Bank Forum [FORM UZ, U/R] announced its financial targets for 2009.

The Creative Group is a Ukrainian vegetable oil and fat producer.