The first FinCamp Odessa’2019 conference on finance for foreign trade held in Odessa

09.07.2019

On 5 July 2019, Odessa hosted the first conference in Ukraine on financial strategies for participants engaged in foreign trade – FinCamp Odessa'2019 “Finances for foreign economic activity: Open the window of opportunity.” The event was organised by Faservice and Pivdenny Bank with the support of PWC, COSA, ACCA and Top Lead.

The forum brought together about 150 business representatives – general and financial directors, corporate treasurers, commercial directors, business owners, directors for foreign economic activity, analysts and industry experts – to discuss current macroeconomic trends, financial and non-financial risks, and also find ways to enter international markets and develop domestic imports and exports.

“High interest rates on loans and the reluctance of multinational companies to finance business in Ukraine are the main challenges faced by participants engaged in foreign trade in Ukraine, especially beginners, – said Aleksandr Matyushenko, Director of the Corporate Business Department of the Pivdenny Bank. – By organising such events, we strive to provide a glimpse into all available financial solutions, their advantages and risks. We also understand that entities engaged in foreign economic activities are increasingly expecting from a partner bank comprehensive examination and advice on financial monitoring, compliance, and currency regulation. We respond to these goals with comprehensive consultations. Moreover, to effectively support client-related transactions, we are developing partnership programmes with brokerage, forwarding and logistics companies. And we see that such comprehensive expert support is becoming increasingly popular, especially in the medium and small corporate business segment with great ambitions and a cool product, but with a lack of knowledge and experience in foreign markets.”

According to the conference participants, the highlight of the event was a case session of business owners, during which they gave many inspiring examples of entering international markets – how entrepreneurs started and developed their businesses, overcame crises, accepted challenges and found opportunities for development in Ukraine and abroad.

The case session for business owners, from which the forum began, was addressed by the President of KTD Group (Saturn) Aleksandra Gromyko, co-owner and Managing Director of Iceberg LTD Daria Antonenko, founder and CEO of Top Lead Stanislav Shum.

Aleksandr Matyushenko, Director of the Corporate Business Department of Pivdenny Bank, Aleksandr Petrichenko, currency trader of Kernel and Vladimir Gavlitsky, Compliance Director of Pivdenny Bank, spoke about relevant tools for financing import and export operations, managing currency risks and investing in securities.

Certain aspects and strategies of receivables management were disclosed by Andrey Sichka, Managing Partner of Credit Engineering (Switzerland).

The second session of the forum was devoted to the role of the financial department and strategies for planning international expansion. The delegates were introduced by Igor Snitivker, Director of Strategic Development, Kaizen Institute Ukraine, as well as the winners of the top 10 best financial directors rating, Yuri Tarasenko (CFO of Bogdan Corporation) and Yuri Pinchuk (FP & A, Private Equity).

The final session of the forum touched on non-financial risks and key factors of financial losses. It began with a transfer pricing workshop by Anna Nikolayko, Senior Manager, Transfer Price Formation Group, PWC Ukraine. Pavel Verkhnyatsky, Managing Director of COSA and Elena Bay, Commercial Director of Zaporozhye Ferroalloy Plant spoke about the safety of import and export operations.

Financing international trade and foreign exchange transactions is one of the most powerful competencies of Pivdenny Bank, which has been operating on the market for over 25 years and is one of the leaders in the corporate banking segment. The volume of purchase and sale of currency by the bank's customers in 2018 amounted to USD 4.3 billion (+23% compared to 2017). According to this indicator, Pivdenny Bank is among the ten largest players in the banking system.