On 6 September 2006, one of the largest Ukrainian banks Ukreximbank (state export import bank) allocated a four-year credit worth USD 1.068 million to Lysychansk-based Proletarii plant-producer of she…
On 6 September 2006, one of the largest Ukrainian banks Ukreximbank (state export import bank) allocated a four-year credit worth USD 1.068 million to Lysychansk-based Proletarii plant-producer of sheet glass (Luhansk region), as disclosed by the company in an official statement. According to the report, the credit agreement, which has an interest rate of 10.35% per annum, was signed on 30 September 2005. According to representative of the enterprise, the credit is a part of a credit line allocated by Ukreximbank, of which the total sum was not disclosed. As previously reported, Ukreximbank allocated a part of the credit line funds worth USD 0.93 million to Proletarii on 31 July. In December 2004, the Antimonopoly Committee of Ukraine gave Proletarii permission to purchase a part of Lysychansk glass plant departments. Proletarii ended 2004 with a net profit of UAH 44.062 million, an increase on net revenues by 42.14% or UAH 71.129 million, compared to 2003, to UAH 239.907 million. According to the Stock Market Infrastructure Development Agency, 50% stake in the enterprise belonged to individuals-resident by November 2004. By July 1, 2006, Ukreximbank net assets were UAH 12,929.8 million; credit portfolio was UAH 10,018.3 million and the capital was UAH 1,208.8 million. The bank ended January-June with a net profit of UAH 140.011 million. The 100% stake in opened joint stock company Ukreximbank belongs to the state.