[000:00:00;00] and how important it is to use such huge platforms in the world to also remind that the war in ukraine is still going on and even if people there live their lives somewhere abroad, this does not mean that they should not remember ukraine and also help ukraine. it was poem hope by lesia ukrainka, i have neither fate nor will, i have only one hope left, one hope to return to ukraine once again, to look once more at my native country, dear friends, on this note, we end our first donor essay, now it will be andriy yanitskyy, happy new economy day, and after that we we'll be back, andrey, thanks for the word, colleagues, we'll talk today about the excess profits of ukrainian banks, they received a huge amount of money only in the first quarter, more about that

in a moment andriy lenytskyi with economic news on the espresso tv channel in the morning at 8:00 a.m. we 'll meet with you live and we'll talk not only via tv if you don't watch us on tv, that's fine, we are on any gadget, in particular via the stream on youtube, you can watch us like subscribe to the e-e espresso channel on youtube comment on this video i respond to comments if there are questions on the topic and send the link to your friends and family and post them on your social networks so more people will see us the european commission for the first time presented an economic forecast for ukraine after a drop of approximately 29% in a year since the full-scale invasion already this year gdp will grow by 0.6 %, e percent, and in the next e-e year, the domestic gross product is not a mark of 4% was calculated in the european union. this

was reported by the european commissioner for economic affairs , paulo ginsiloni. he believes that in the conditions of the russian invasion, the ukrainian economy turned out to be extremely stable, however, positive expectations depend on the further development of events on the front, uncertainty remains, according to the european commissioner, people with low incomes will not actually feel the increase in electricity tariffs, which is already planned, assured andriy gerus, head of the specialized committee of the verkhovna rada for people in need of help the subsidy system should continue to work . it should be easily and simply accessible , say using electronic means of smartphones, so that there are no complex bureaucratic procedures for obtaining such support from the state, the deputy believes that options for changing electricity prices, which are only now being discussed, are moderate, the main task is not

just to collect money from people as much as possible, but to invest in the power system to restore it . deputy andriy gerus ukrzaliznytsia received from the us agency for international development more than a hundred generators , their value is about 3 million dollars, the company noted that the generators will be installed on at the stations of the main routes of passenger and freight trains, they will provide back-up power supply for more than 100,000 consumers and contribute to the uninterrupted transportation of passengers and goods until the default of the united states. there are only two weeks left. we discussed this topic in previous broadcasts . this is what the letter is about u.s. treasury secretary janet yellen to lawmakers and this letter is effectively the latest

warning about the government's shaky financial situation. states may run out of money to pay bills by june 1 if congress does not will raise or not suspend the debt limit, she notes, experts hope that the problem will be temporarily solved by summer tax revenues, however, i will remind you that the debt limit of almost 31.5 t usd was crossed back in january, and previously a similar situation was resolved by simply raising this debt limit this year, the first the attempt to raise this limit failed failed for those who want to know more about it i send to our previous issues where we already discussed the national debt of the united states and whether the default of the united states is possible and today we will talk about other economic topics with our permanent experts include yevgeny dubogryzam, a financial expert, and mykhailo demkiv, who is a financial analyst at

the icu investor group. good morning, gentlemen. the topic of today's conversation is the key topic - the huge profits of the ukrainian banking system in the first quarter. i read the following news on the pages of the publication fink club became the most profitable ukrainian bank in january-march, the state-owned privatbank earned uah 16 billion, which is actually half of all , well, a little less than half of everything it earned the entire banking system suffered the most damage during this period, motor bank received 25.4 million hryvnias , not billions and millions of hryvnias, and in general, the total profit of this system is 34,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000. this is how they began to earn a lot, yevgeny

. maybe you can help. well, is it ethical to earn a lot like this, in principle, it is ethical because it is a business to earn money, but in fact , the situation there really looks quite absurd at first glance, because there is a lot of war in the country of loans at the serviced e-e level e share of non-performing loans in the banking system in general at the beginning of the invasion increased from 27% to almost 40% in the system, but at the same time banks not only had record profits but also record revenues and interest income was 68.5 billion in three months hryvnia is 48% more than in the same period of the previous year. it seems like a bit of a nose, god, there are fewer loans, but the bank earns more . why is this happening because now the lion’s share and it really is the lion’s share, this is without exaggeration of the banks’ income, it is the income from the operation with government securities are the interest on ovdp that banks receive from the government and the interest

on de certificates of the national bank is quite a large percentage of udp now from 12 to 19%. where 20-25% certificates are brought by the bank annually and at the same time the cost of funding, i.e. the cost of the funds raised, and business funds , public funds, it is quite low, from literally a few percent of business funds to 12-13% of public funds, and this is the difference, yes, and gives banks such a large profit because other components such as revaluation or trading income or commissions revenues, they are basically market-based, these components are plus one more point, which seems to me to be quite important that the banks have almost stopped deducting from reserves for expected events, that is, it is also a bit strange because the share of non-performing loans is growing , it continues to grow, but the banks do not recognize that

these incomes are no longer received somewhere among the insurance in the reserve for the first three months, somewhere around 1.3 billion per month, this is 10 times less than last year, so it seems to me that the banks here are waiting for the actions of the nbu , waiting for the diagnostics of the banks to finally say and what are their real future losses and why is it important? and why is this dangerous in my opinion, and because this business model of banks, such earnings are called arbitrage. and that is , the difference between state securities and state securities, which are also paid for from the budget, you know this i really would not like banks to withdraw from accreditation, because such a business model brings huge revenues and bank shareholders in the future will demand the same profitability from their managers to say that yes, you used to earn a lot, you earn only now

direct lending loans have not brought such income and such profitability, and it is a huge and difficult task for the nation to return banks to lending. well, when you are usually worried about risks, find it. i personally do not have a quick answer to this question. well, a smart top manager will explain to his shareholders that this is a temporary phenomenon. i think that in general it is necessary, as they rightly said , to collect some money before the test, because the stress test can reveal some shortcomings and necessary for capitalization or some increase in the deduction of reserves, yes, but also all the same, i am worried about this question, that is, guilt, well, i can’t say that it is guilt, because of course i exaggerate, i don’t want to say that all bankers are like fat cats who make money from poor ukrainians, that ’s not the case, we know different periods in the banking system sometimes revenues are large, sometimes we are less. but the fact that this situation has developed

is that these are some objective factors. are there still shortcomings in the work of the national bank of ukraine , which simply did not see in time that it can happen that large funds can accumulate in the banks, mykhailo, i am asking you to answer this question. well, maybe you can add something to yevhen's words, well, i'll start by saying that this situation is a consequence of the policy of the national bank, and that's what yevhen said -e situation that banks earn on e-e balances, client balances will be certificates, it is already putting pressure on the fact that the same national bank is forced to adjust its monetary policy to this situation and in march, the national bank literally changed the design of monetary policy

by reducing e- e bets for e-e overnight with positive certificates, well, in fact, he lowered the interest rate by doing it in order to reduce these expenses on interest on certificates of deposit, it is obvious that in the next month this situation will only accumulate it there and the national bank will quickly lower the discount rate by more than he previously thought due to all these things, in addition, i would add a second source of income - these are settlements abroad, after the beginning of the great war , the difference between the official rate of the national bank and the so-called card exchange rate increased very seriously. to which banks conduct the operation, this is also done there, in principle , no, not because of the ban of the nbu, that is, this is an absolutely legal, legal

situation, but this is a distortion of the market today, for example, banks sell euros for 2 hryvnias according to the calculations of ukrainians abroad approximately more than the official rate of almost 4% in some months of the summer, this difference was almost twice as much to 7% of the decor here it is worth saying that it is not only a matter of physical physical calculation abroad , even being in ukraine you can also fall into this the difference when you, for example, pay for some products e.e. abroad, for example, subscribe to the internet or order something, this also all goes along a larger course and allows banks with a large number of retail, not corporate , but actually retail customers e.e. to feel quite good on the eve of all this stress tests, i suspect that individual banks will not

even need this much before capitalization , including some of the states, which is probably ok, but as yevgen really correctly said , such a situation cannot last indefinitely in for some time we are waiting for a return to normal, some kind of normalization and a return of profits to the usual doctor, we will monitor this situation, see where the banks will actually spend these funds and how they will come stress tests, well, what will you find , e. already in the following issues, we still have several topics to discuss, in particular, a very interesting topic from the media market. i'm glad that a journalist can talk about this once, a billionaire, who

still doesn't have a 30-year-old actually bought one controlling well, not all the shares, but it controls the package of shares of forbes global media holdings. that is, it is the same force that makes all these ratings, many people, and it is not about the ukrainian e-magazine, but exclusively and about the entire global holding, according to the results of the agreement, e-e , they evaluated this entire holding for 800 million dollars, russell will have 82% of the shares of this company , which previously, including er, belonged to the forbes family, all this is no longer a family business, mr. yevgeny, let us now tell you what you can say about this deal, who currently needs this traditional media business, which, as we know, is unprofitable everywhere , is it not profitable, is it some new political ambitions of all the young, young, well

, that’s narasova, there is a billionaire . this is precisely the subscription - this is advertising, that is, for some marketing events or communication hubs , in particular, the media business, what can i say for an economist? last year , revenues and profits increased very much, they themselves say that this is it was above their expectations, the york times also increased a little less, while forbes increased the same increase, this means that the traditional media business is just as high-quality media business in the world, it is developing quite well, it increases revenues and profits, it is attractive to investors . well, people who have money, they see this as a prospect and are ready to pay a lot of money for it, well, only because they see that it is possible to earn even more from it, that is,

we are not talking about any failed traditional media on the contrary, we are talking about the development of traditional media, that they are profitable and will generate even more money, provided that they are really high-quality, that they produce precisely journalistic content, that they produce independent analysis for this, there is a demand for it, you know, i wanted to remind you of one thing, just about 10 years ago the same 28-year-old billionaire, only ukrainian, and the billionaire, of course , is in quotation marks, and serhiy korchenko, he bought the ukrainian holding company yumz, including the forum magazine - by the way, it seemed to me to be an indicator of what really high-quality media work, because forbes was able to do it well, and at that time the correspondent was still high-quality, but they really prevented kurchenko yanukovych and all these predecessors from running their so -called business. the argument that high-quality media is needed , high-quality media is really important and can

make money. mykhailo what do you say? i have already read various conspiracy stories about the fact that there is russian money, it is russian capital that wants to penetrate the media market. uh, usa, i’m not sure, it was some kind of source, it’s very dubious. that’s why it’s more like some kind of rumor . that’s why i question them. is it worth investing in the media today? why are media in the world profitable, and ukrainian media are mostly unprofitable? well, why is that? these rumors can be born not only because the russians are publicly poking their noses somewhere, but also because forbes has been for sale for several years and literally last year or so , there was talk of the company entering the stock market and starting to trade. it was like this the popular procedure of entering the e-e stock market is very fast due to special associations with a special company with a package, this did not

happen, and perhaps also because e-e forbes was interested in the crypto exchange binat, which somehow got into the hands of american regulators and maybe that is why didn't work out didn't work out and the deal now, uh, ford was bought even for a larger amount, uh , which is somewhat strange, because the market fell in a year , well, in general, the value of assets decreased a lot, and uh, this time, the island itself is in in principle, he is a billionaire. he is a very successful person, he made himself in the market of technology for self -driving cars, car safety, but still he is. his wealth does not greatly exceed this deal. that is , it is quite such a risky investment for a large

amount and therefore somewhere there are conspiracy theories regarding the media , i would like to add here that they are facing now, even the profitable american, western media have challenges related to artificial intelligence in what sense when we get technology which allows us to do some similar things from the articles , that is, the consumer should no longer go to the sites of these same publications, not generate traffic for them, subscriptions to advertisements, etc., that is, all that on why does the media make money, and now among the regulators of western countries er legislators there is a discussion about how to regulate this market so that our media does not disappear under er er large technological grants such as google and

other companies that simply monopolize this traffic e-e and monopolize e-e access to information and fables will not generate the kind of income they have now. and this is definitely a challenge for the industry in the coming years. yes, mr. mikhailov, we are already close to 20 minutes and we do not have time to talk about one more topic, we will leave it for next time about how the european union has previously approved a ban on the destruction of clothes that have not passed the test . the financial analyst of the icu group was on our air, they talked about the excess profits of ukrainian banks and the sale of the forbes media company , which was valued at 800 million dollars. i, andriy yaninsky, was with economic news for you. see you tomorrow at 8

am. together we will win the semi-finals of the champions league on megogo. inter milan and man city-real find out who will play in the decisive match on may 16 and 17 at 10:00 p.m. exclusively on megogo. watch this week's program collaborators as supporters of russky mir claim positions in the occupied melitopol why are the sellers not allowed out of the city food will be cut to all residents of the liberated territory of novorossiya watch on wednesday, may 17 at 4:45 p.m. the program of collaborators with olena kononenko on

the espresso tv channel, this is freedom, life on radio svoboda, we have already come to the very change, the following shots can help you shock news from the scene of events live kamikaze drone attacks political analysis objectively and meaningfully there is no political season exclusive interviews reports from the hottest front goats freedom life frankly and impartially make your own conclusions, the war in ukraine is the main topic for ukrainians, victories and losses, analysis and forecasts, politics and geopolitics , serhii rudenko and the guests of his program will talk about all this, people who have information and shape public opinion, people who defend ukraine and create the future right now, the main

and interesting thing in program verdict serhiy rudenko from monday to thursday at 1:00 p.m. repeat at 6:00 p.m. here we are back on tuesday, we continue to inform you about what is happening in ukraine, analyze the whole situation and here, based on the motives of the previous hour, one of the audience was outraged, saying why we divide people and can't everyone think only about war and life. listen, we don't call for people to give up their peaceful lives , of course not. we call for closing all institutions. cancel all concerts, all performances , life must go on. said it seems that he cannot during the great war, when the whole homeland is in danger, when the enemy wants to destroy and make virtually all ukrainians e pretend that business is as usual

, that things are going as usual, things are not going as usual i always want to love, but if you don't want to see it, the enemy will come to beat you. but you watch how the kids come up with some cocktails or come up with cocktails and sell them and collect money for the armed forces or the girl who cut off her long braids and donated money to zsu who how can who some way can we showed you katrin to him who read a poem by lesya ukrainka from the stage of the kant film festival using this huge platform using her fame in order to remind that ukraine is and there is a war in this country for example video andrzej severyn the polish actor just posted a video with his granddaughter. he is dancing with her. can we show it without, uh, without sound, because there is just music playing, they are just dancing, but

please note that he has a sticker on his t-shirt and i watch this polish actor from time to time famous polish actors who appear not only in polish films, but also in other american films, he is invited to french cinema, and he is always invited to his t-shirt. popular in poland. he wants every time he appears in public to express his support for ukraine, that is, once he takes and removes this blue-yellow ribbon, for example, from his jacket in which he was at some reception somewhere and clings to his t-shirt when he went for a walk just with granddaughter, and it is possible, this is not financial help

, but it is a reminder that the war in ukraine is going on for other people who can also be distracted by their lives. something was not relayed there , they will react to what they write in the chat about whether journalists have the right to express their opinion, to comment, to separate in, that is, to comment, and so on. to separate not to mix is ​​true, but this does not mean that the facts are not commented on, it means that the facts are not explained here simply what subtle matter is very simple example i will show you includes a journalist for example from the president's briefing is turned on, he is with a microphone and he says in the next sentence today, the weather is clear and sunny, it is quite warm. by the way, the president looked a bit tired, and i think he was very uncomfortable . the last few questions, which i will tell you about now, he was visibly nervous, but here, by the way , all the independent changes have gathered today of ukraine, three evaluation judgments were made here: firstly, about the weather, did journalism have the right, yes, absolutely, he is a witness to the events . he has the right to this, even as a reporter, he is not

a commentator in the studio of a political reporter connects under himself. he said that in his opinion the president was nervous, does he have the right to such an evaluation service, does he have a witness to the events, he sees it that way and he will try to prove it in the next video, and the third, he said that all the independent media gathered here, then we saw the borders there if there and so on, similar to that, there are some medvedchuk channels, for example. yes, we understand that there were not many independent mass media there, it was an evaluation judgment and it was already wrong , it was a generalization, which he had no right , you just always have to separate and not generalize, don't mix it up, you know. peas from cabbage, when we talk about whether journalists have the right to their opinion, they have the right , but if they do not report only purely facts and do not twist the facts. this is unacceptable. a little bit was enough for us, it was already literally some 10,000 not enough for our

amount for yesterday, which we together with you , our dear viewers, collected for our military , 100,000 was added and now we have 500 necessary thousand is already 316,973 uah eh and it is incredible we are very grateful to you, this is just for us we are grateful to those people who actually do not forget that the war is going on and potapovych, like nastya kamenskikh, cannot collect even offering in exchange for several years, we do not offer infiniti, we do not have and this is some kind of uneven exchange, you know. they sold the infiniti video and would have given it to the locksmith. they would probably have bought several cars like this with good traffic. they would have gone to help the boys there, but so we collect

the memory. we play on the mavik, we also collect on we are collecting equipment and collecting for the defenders who are currently in donetsk region, this is the fourth brigade of the operational assignment of the national guard of ukraine and the 80th separate airborne assault brigade, the guys are now in the bakhmut direction, where there is a mavik - this is such a reconnaissance drone, it is the eyes of intelligence, these drones qualitatively help to conduct not only development but also to adjust targets for artillery shelling, thus minusing our enemies. well, equipment is also needed and it is constantly needed because it often simply gets destroyed card number it is not a problem to write it down, andrei, because there is a youtube broadcast and there is all this data , it is the same for those who manage to see it, the same for those who do not have time to write, for example, scan a qr-code or do not know how to use it or did not have time to write down the card number, there is youtube the broadcast of express search on youtube on youtube

with espresso tv you find the broadcast of our air and there are also all the necessary requisites listen we need to collect less than 200,000 continuing our good tradition the host also forwards a small but noticeable a little ot a na na na na our results and let today be more than 100,000 or the sum in this way we will get closer to the dreamed 500,000 and we will send this to mom as soon as possible, what is this equipment that our defenders in donbas need well, what about us now oleksandr skoryk a deputy of the kharkiv regional council joins our eteo oleksandr good morning, good morning, you had a good time, you are hosting the broadcast , you know. well, on the positive side, even i wanted to do it, here in kharkiv, we have