Poroshenko declares over Hr 1 million in interest from his bank

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Ukraine’s President Petro Poroshenko has declared Hr 1,029,785 of income in the form of interest from deposits in the International Investment Bank (IIB, Kyiv), the controlling stake in which belongs to the president.

According to the January 5 announcement about the changes to the Unified State Register of Declarations, Poroshenko received interest on three deposits in the bank in the amount of Hr 616,309, Hr 328,698 and Hr 84,778.

As reported, IIB saw Hr 78.364 million of net profit in January-September 2017, which is 2.5 times more than in the same period of 2016.

According to the NBU, as of January 1, 2017 the major stockholder of IIB was President of Ukraine Petro Poroshenko, who owns a total of 60% of the financial institution.

Minority co-owners are business partners of Poroshenko – First Deputy Chairman of Petro Poroshenko Bloc Ihor Kononenko (14.94%), First Deputy Secretary of the National Security and Defense Council (NSDC) Oleh Hladkovsky and Head of Energoavtomatika Dnipropetrovsk pilot production plant LLC and Chairman of supervisory board of Ista-Center Oleh Zimin (9.9008% each).

In addition, Kateryna Vorushylina and Serhiy Vorushylin hold 2.5994% and 2.5984%, Poroshenko’s son Oleksiy holds 0.0061% and wife of Hladkovsky – Yulia Hladkovska holds 0.000001%.

The IIB was founded in 2008.

According to the NBU, as of July 1, 2017, the bank ranked 23rd in terms of the size of its assets (Hr 7.308 billion) among the total of 88 operating banks.

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