gillie chris Posted April 16, 2008 Share Posted April 16, 2008 http://edinburghnews.scotsman.com/topstories/Romanov-making-big-money-as.3986049.jp Link to comment Share on other sites More sharing options...
gillie chris Posted April 16, 2008 Author Share Posted April 16, 2008 Oops Ive not got a speech problem Link to comment Share on other sites More sharing options...
Coco Posted April 16, 2008 Share Posted April 16, 2008 Ukio beats credit crunch. :rofl: Brilliant stuff. Link to comment Share on other sites More sharing options...
Gavsy Van Gaverson Posted April 16, 2008 Share Posted April 16, 2008 Ukio beats credit crunch. :rofl: Brilliant stuff. Exaclty. I'll hazard a guess that there are currently 0 Americans with Mortgages with Ukio. Link to comment Share on other sites More sharing options...
Paolo Posted April 16, 2008 Share Posted April 16, 2008 We can laugh, but although small fry compared to UK banks, this is very positive and taken on in percentage terms, they are envious figures. And imagine the hysteria if the reverse had happened, it certainly would be talked about more by the tabloids. Link to comment Share on other sites More sharing options...
Sexton Hardcastle Posted April 16, 2008 Share Posted April 16, 2008 I think kickback should have an area for the scotsman/evening news. I think thats every hearts story linked up to there this morning. Link to comment Share on other sites More sharing options...
Gavsy Van Gaverson Posted April 16, 2008 Share Posted April 16, 2008 We can laugh, but although small fry compared to UK banks, this is very positive and taken on in percentage terms, they are envious figures. And imagine the hysteria if the reverse had happened, it certainly would be talked about more by the tabloids. Agreed, with the way the banking sector is at the moment any increase in profits should be looked up on as success. Link to comment Share on other sites More sharing options...
jkato Posted April 16, 2008 Share Posted April 16, 2008 Agreed, with the way the banking sector is at the moment any increase in profits should be looked up on as success. If you feel like a punt, you can buy shares in them if you so wish Link to comment Share on other sites More sharing options...
portobellojambo1 Posted April 16, 2008 Share Posted April 16, 2008 If you feel like a punt, you can buy shares in them if you so wish Are you sure you meant to type punt. Link to comment Share on other sites More sharing options...
Hagar the Horrible Posted April 16, 2008 Share Posted April 16, 2008 Still i am waiting for the hoboeconomists to put a negative spin on this? or are they all still realling from how they all invested in Nothern Rock? Link to comment Share on other sites More sharing options...
Lionel Posted April 16, 2008 Share Posted April 16, 2008 http://edinburghnews.scotsman.com/topstories/Romanov-making-big-money-as.3986049.jp Wonder where the new money came from- Sunderland anyone?? i did not realise that its not Vlads bank as is widely spouted, has a major holding but not majority. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted April 16, 2008 Share Posted April 16, 2008 Round of applause for Ukio but their profit is only a quarter of Hearts' loss. For Vlad's sake, I hope the rest of the UBIG group is offsetting the Hearts loss. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted April 16, 2008 Share Posted April 16, 2008 Wonder where the new money came from- Sunderland anyone?? i did not realise that its not Vlads bank as is widely spouted, has a major holding but not majority. He has the controlling stake via his mother and via UBIG, which he owns roughly 66% of. That said, he does have to run it as a proper business so IMHO, he has given some sort of guarantee to subsidise the interest that Hearts pay to Ukio. Link to comment Share on other sites More sharing options...
Mon Posted April 16, 2008 Share Posted April 16, 2008 And as I pointed out earlier it doesn't look as if they are doing that well considering: http://www.baltic.omxnordicexchange.com/market/?instrument=LT0000102352&list=2&pg=details&tab=historical&lang=en¤cy=0&date=&period=6months&start_d=16&start_m=10&start_y=2007&end_d=9&end_m=4&end_y=2008&period=year Looks like a downward trend. Suppose you can put spin on anything if you try. Link to comment Share on other sites More sharing options...
Coco Posted April 16, 2008 Share Posted April 16, 2008 Are you sure you meant to type punt. Made me laugh Link to comment Share on other sites More sharing options...
Billy52 Posted April 16, 2008 Share Posted April 16, 2008 We can laugh, but although small fry compared to UK banks, this is very positive and taken on in percentage terms, they are envious figures. And imagine the hysteria if the reverse had happened, it certainly would be talked about more by the tabloids. Look at the whole article, they are not registered direct with the FSA in the UK and may have to come under the wing of a major UK bank as a kind of subsiduary for audit purposes etc. Link to comment Share on other sites More sharing options...
Cut The Crap Posted April 16, 2008 Share Posted April 16, 2008 The banknote behind him in the picture certainly looks like "big" money, but I think it might be a fake? If not, they must have pretty big wallets in Lithuania. Link to comment Share on other sites More sharing options...
Billy52 Posted April 16, 2008 Share Posted April 16, 2008 He has the controlling stake via his mother and via UBIG, which he owns roughly 66% of. That said, he does have to run it as a proper business so IMHO, he has given some sort of guarantee to subsidise the interest that Hearts pay to Ukio. The point you are missing is that according to the article he and his old lady own 42% of UKIO. Dont know how the voting rights go but if the others decided they dont fancy Hearts current overdraft rate or the risks involved, we could be in bother. Branches in Ukraine, Russia, Khazakstan and..................Edinburgh. Global pattern emerging, ha ****ing ha! Link to comment Share on other sites More sharing options...
Billy52 Posted April 16, 2008 Share Posted April 16, 2008 The banknote behind him in the picture certainly looks like "big" money, but I think it might be a fake? If not, they must have pretty big wallets in Lithuania. Thats inflation for you! Cant see that one going in the Hotpoint! Link to comment Share on other sites More sharing options...
doctor jambo Posted April 16, 2008 Share Posted April 16, 2008 The point you are missing is that according to the article he and his old lady own 42% of UKIO. Dont know how the voting rights go but if the others decided they dont fancy Hearts current overdraft rate or the risks involved, we could be in bother. Branches in Ukraine, Russia, Khazakstan and..................Edinburgh. Global pattern emerging, ha ****ing ha! Hate to say it Billy, but Russia and Kazahkstan are both booming economies oil and gas rich I'd rather have a branch there than Edinburgh at the moment Link to comment Share on other sites More sharing options...
PTBCAL Posted April 16, 2008 Share Posted April 16, 2008 Did this really need to be splashed all over the front page of the news? Link to comment Share on other sites More sharing options...
John Findlay Posted April 16, 2008 Share Posted April 16, 2008 Did this really need to be splashed all over the front page of the news? Nope. A wee mention in the business section would have been suffice. That's twice now Hearts have been front page news this week and niether story merited it. John Link to comment Share on other sites More sharing options...
Winston Ingram Posted April 16, 2008 Share Posted April 16, 2008 Think the thing to remember is that Ukio, like Hearts to an extent, is merely another UBIG business. It is not UBIG, therefore what money they make or do not make impacts only partially on the big picture. UBIG's assets are close to 500 million Euros, we are told; in which case property and leisure facilities, plus the likes of the Bosnian aluminium plant, are likely to make consierably more cash than the bank (this is certainly the case with the Bosnian place.) Ukio just happens to be the bank where the majority of our banking facilities are housed, which makes complete sense given that UBIG control it. Whether they make ?3 mil or ?30 mil doesn't impact directly on us.. although the more the better, obviously. Link to comment Share on other sites More sharing options...
Coco Posted April 16, 2008 Share Posted April 16, 2008 Think the thing to remember is that Ukio, like Hearts to an extent, is merely another UBIG business. It is not UBIG, therefore what money they make or do not make impacts only partially on the big picture. UBIG's assets are close to 500 million Euros, we are told; in which case property and leisure facilities, plus the likes of the Bosnian aluminium plant, are likely to make consierably more cash than the bank (this is certainly the case with the Bosnian place.) Ukio just happens to be the bank where the majority of our banking facilities are housed, which makes complete sense given that UBIG control it. Whether they make ?3 mil or ?30 mil doesn't impact directly on us.. although the more the better, obviously. I don't think the figures for UBIG's profitability or how they are financed are in the public domain. The businesses may well be rotten, facing horrendous operating or financial conditions. We don't know. So we have no idea of whether any of the other businesses make any money. Ukio Bankas is obviously a minnow. Link to comment Share on other sites More sharing options...
Winston Ingram Posted April 16, 2008 Share Posted April 16, 2008 Coco- Notes at the bottom of Hearts' financial statement the other week quoted UBIG's asset worth, near 500 million Euros from memory. I agree we do not know profitibility, but seems safe to assume the money must come from somewhere.. my guess Bosnia. Point I'm making is we shouldn't get too hung-up on the bank, which has always returned relatively minimal profits. UBIG obviously have far bigger fish to fry out there. Link to comment Share on other sites More sharing options...
Coco Posted April 16, 2008 Share Posted April 16, 2008 Coco- Notes at the bottom of Hearts' financial statement the other week quoted UBIG's asset worth, near 500 million Euros from memory. I agree we do not know profitibility, but seems safe to assume the money must come from somewhere.. my guess Bosnia. Point I'm making is we shouldn't get too hung-up on the bank, which has always returned relatively minimal profits. UBIG obviously have far bigger fish to fry out there. I wonder why the asset size is always quoted. Is it because they don't make any profit? I would strongly disagree that it is safe to assume that VR's company makes any money. Perhaps it is run in the way that Hearts is run. Link to comment Share on other sites More sharing options...
Winston Ingram Posted April 16, 2008 Share Posted April 16, 2008 Well, almost ?30 million has so far been dished out to players in wages from somewhere? That money existed, ie hard cash was given out.. and given Ukio's resources, not by them! There are so many components that we are unaware of. For example, the offer document from UBIG in 2005 lists "InErgo LLC", another Vlad company, as part of UBIC. Their business is "investment projects" and they are listed somwhere between the USA and the British Virgin Islands... Link to comment Share on other sites More sharing options...
Coco Posted April 16, 2008 Share Posted April 16, 2008 Well, almost ?30 million has so far been dished out to players in wages from somewhere? That money existed, ie hard cash was given out.. and given Ukio's resources, not by them! There are so many components that we are unaware of. For example, the offer document from UBIG in 2005 lists "InErgo LLC", another Vlad company, as part of UBIC. Their business is "investment projects" and they are listed somwhere between the USA and the British Virgin Islands... Lots of unanswered questions. What is UBIG's funding structure. Do they make any profits. Do they need to replace their equipment at the aluminium factory. Who are their suppliers/customers. When are they actually going to start developing one of their real estate developments. Where do the cheques from Lithuania going into Hearts actually come from. etc etc Link to comment Share on other sites More sharing options...
ToadKiller Dog Posted April 16, 2008 Share Posted April 16, 2008 The UBIG group say they had a turnover of 390m euros in the last year ,dont know what that means in terms of net profit or in terms of financing any debt that they have ,but it does seem that the group is growing year on year. So it could be like hearts with the 12m turnover but with 37m debt,or it could be that they are making large profits ,Romanov has stated that he has his own wealth stashed away which is not tied in with his business intrests. Link to comment Share on other sites More sharing options...
Coco Posted April 16, 2008 Share Posted April 16, 2008 The UBIG group say they had a turnover of 390m euros in the last year ,dont know what that means in terms of net profit or in terms of financing any debt that they have ,but it does seem that the group is growing year on year.So it could be like hearts with the 12m turnover but with 37m debt,or it could be that they are making large profits ,Romanov has stated that he has his own wealth stashed away which is not tied in with his business intrests. Given the catastrophic way (operational and financial) in which VR and his acolytes have run Hearts, why would we expect any of his other businesses are run on a less whimsical and less disastrous way? Link to comment Share on other sites More sharing options...
Mr Quagmire Posted April 16, 2008 Share Posted April 16, 2008 Look at the whole article, they are not registered direct with the FSA in the UK and may have to come under the wing of a major UK bank as a kind of subsiduary for audit purposes etc. But they are not going to come in under another bank who will be offering the same services, thats why it is taking them a while to open in the uk market. Last i heard, they have just applied to the FSA and are in discussions at present. all good if you ask me. Link to comment Share on other sites More sharing options...
Drylaw Hearts Posted April 16, 2008 Share Posted April 16, 2008 But they are not going to come in under another bank who will be offering the same services, thats why it is taking them a while to open in the uk market. Last i heard, they have just applied to the FSA and are in discussions at present. all good if you ask me. Yes, tremendous. Link to comment Share on other sites More sharing options...
jambos are go! Posted April 16, 2008 Share Posted April 16, 2008 Round of applause for Ukio but their profit is only a quarter of Hearts' loss. For Vlad's sake, I hope the rest of the UBIG group is offsetting the Hearts loss. Its only a quarters profit I think you'll find. Link to comment Share on other sites More sharing options...
jambos are go! Posted April 16, 2008 Share Posted April 16, 2008 But they are not going to come in under another bank who will be offering the same services, thats why it is taking them a while to open in the uk market. Last i heard, they have just applied to the FSA and are in discussions at present. all good if you ask me. Rumour has it VR needs to be ratified by the FSA and is having to adapt his business methods. All good as you say Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted April 16, 2008 Share Posted April 16, 2008 Its only a quarters profit I think you'll find. Yep. The point remains valid. Even if he broke even over HMFC/Ukio, there would still be an issue of profitability for the group. Oh and Billy 52 - UBIG own a certain percentage of Ukio and Vlad owns UBIG. Therefore, he has the controlling stake in Ukio. Link to comment Share on other sites More sharing options...
Colonel Kurtz Posted April 17, 2008 Share Posted April 17, 2008 Still i am waiting for the hoboeconomists to put a negative spin on this? or are they all still realling from how they all invested in Nothern Rock? Cartainly a lot of them are partial to Northern ****** Link to comment Share on other sites More sharing options...
walton1983 Posted April 17, 2008 Share Posted April 17, 2008 The point you are missing is that according to the article he and his old lady own 42% of UKIO. Dont know how the voting rights go but if the others decided they dont fancy Hearts current overdraft rate or the risks involved, we could be in bother. Branches in Ukraine, Russia, Khazakstan and..................Edinburgh. Global pattern emerging, ha ****ing ha! How much of the bank's profit is interest from us! I suppose it means it more likely he will stick around as the money rolls in but how high can our debt go before we panic.As long as the Gordon money goes into Hearts account then this year we should break even. Link to comment Share on other sites More sharing options...
SUTOL Posted April 17, 2008 Share Posted April 17, 2008 And as I pointed out earlier it doesn't look as if they are doing that well considering: http://www.baltic.omxnordicexchange.com/market/?instrument=LT0000102352&list=2&pg=details&tab=historical&lang=en¤cy=0&date=&period=6months&start_d=16&start_m=10&start_y=2007&end_d=9&end_m=4&end_y=2008&period=year Looks like a downward trend. Suppose you can put spin on anything if you try. How is making a profit putting a spin on anything? How does Ukios share performance compare to the likes of HBoS and RBS, over the same time period? Link to comment Share on other sites More sharing options...
Coco Posted April 17, 2008 Share Posted April 17, 2008 How much of the bank's profit is interest from us!I suppose it means it more likely he will stick around as the money rolls in but how high can our debt go before we panic.As long as the Gordon money goes into Hearts account then this year we should break even. The bank is making an opportunity loss by lending to Hearts (other than in terms of preventing its entire exposure going sour by preventing Hearts going bust). I don't have the figures to hand, but I think that the bank could make more money by lending to the UK Government with zero credit risk and the same currency risk (and a lower capital risk). Link to comment Share on other sites More sharing options...
SUTOL Posted April 17, 2008 Share Posted April 17, 2008 How much of the bank's profit is interest from us! How much interest did we pay them in the last accounts? Link to comment Share on other sites More sharing options...
topcat Posted April 17, 2008 Share Posted April 17, 2008 How much interest did we pay them in the last accounts? http://www.hmfckickback.co.uk/showthread.php?p=182588#post182588 I'm not typing all that in again! But total interest was: ?1,815 not all of that is to ukios so an estimate of ?400K per quarter would be reasonable. Of course this would be an extra income as opposed to profit. Hearts last reported debt of ?36m represented about 4% of Ukios' assets of ?919,254,658. Assuming it's not much more or less profitable than their other assets that would give you an estimate of ?150K out of ?3.7m for quarter 1. Link to comment Share on other sites More sharing options...
Paolo Posted April 17, 2008 Share Posted April 17, 2008 Look at the whole article, they are not registered direct with the FSA in the UK and may have to come under the wing of a major UK bank as a kind of subsiduary for audit purposes etc. That is where you are wrong. They meet all FSA and Bank of England requirements, but as with all organisations they need clearing status. They do not have to come under the wing onf another bank, but they can, and this has been considered as to be a clearing bank in your own right costs around ?1 million pound, and for a one branch operation, it may be more viable to come under one of the major banks - All building socities do this, as do many private banks, and other banks, such as Scottish Widows Bank and Standard Life Bank, and many other foreign banks in the UK - there is nothing scaring or concerning about this. There are reasons why they have not yet come under a major UK bank - nothing to do with the stability or lack off effort from Ukio Bankas. Link to comment Share on other sites More sharing options...
SUTOL Posted April 17, 2008 Share Posted April 17, 2008 http://www.hmfckickback.co.uk/showthread.php?p=182588#post182588I'm not typing all that in again! But total interest was: ?1,815 not all of that is to ukios so an estimate of ?400K per quarter would be reasonable. Of course this would be an extra income as opposed to profit. Hearts last reported debt of ?36m represented about 4% of Ukios' assets of ?919,254,658. Assuming it's not much more or less profitable than their other assets that would give you an estimate of ?150K out of ?3.7m for quarter 1. Cheers TC, Can we assume a sum in the region of ?1.5M was paid to Ukio Bankas in interest payments, (or at least due to them, maybe not paid) then a rough calculation that Ukios profits are 30% of income, = HMFC contributed ?450,000. to Ukios profits. Link to comment Share on other sites More sharing options...
Maroon & White Posted April 18, 2008 Share Posted April 18, 2008 And imagine the hysteria if the reverse had happened, it certainly would be talked about more by the tabloids. Don't know if anyone else spotted this but the news about Vlad's profits were actually reported by our good ''friends'' - the Scottish Sun. Very small article but it did present the impressive facts. Hmmm.. Just to add - first post back in years.. Wow. So many members. Impressed if slighty overwhelmed as to where to begin!? :107years: Link to comment Share on other sites More sharing options...
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