First Ukrainian International Bank (PUMB) gathered the finance chiefs of leading Ukrainian companies for a panel discussion, “Business Under Pressure: From Risks to Solutions,” as part of the Ukrainian CFO Forum 2026.
Panel participants and key topics
Participants on the panel included Serhii Shulha, Group CFO of Vitagro; Anna Vashchenko, finance director of the Askania group of companies; Liubov Tsymbal, CFO of the Dobrobut medical network; and Andrii Komar, CFO of BGS RAIL. The discussion was moderated by Pavlo Prytyko, director of the department for work with medium-sized businesses at First Ukrainian International Bank (PUMB).
The discussion focused on security and energy risks, disruptions to logistics, access to financing, preserving liquidity and the need to continue investing. The emphasis of the conversation shifted from describing threats to practical solutions that help companies adapt.
The impact of logistics and asset management on BGS RAIL
Andrii Komar explained that the value of rail assets is determined not by their mere existence but by their ability to operate and generate revenue. Following strikes on production facilities, the shutdown of large mining and metallurgical enterprises reduces freight volumes and affects asset turnover.
The company prioritises maintaining the technical readiness of its wagon fleet, diversifying clients and cargoes, and timely management of financial liabilities. Dependence on infrastructure — the condition of which BGS RAIL cannot control — remains a challenge.
Company strategies: Vitagro, Askania and Dobrobut
Serhii Shulha outlined Vitagro’s diversification strategy: investing in processing, bioethanol and other higher value-added areas. The company also uses scenario planning and cost control, modelling the impact of rising fuel costs and developing its own fuel supply mechanisms.
Anna Vashchenko explained that for the Askania group, which comprises 12 businesses, the priorities are stable liquidity and business continuity. Investment directions include energy independence for manufacturing sites, while the group continues to invest to preserve competitiveness.
Liubov Tsymbal spoke about the Dobrobut medical network’s experience: at the start of the full-scale invasion the network faced a sharp drop in patients, staff departures and liquidity problems. Through open dialogue with financial partners, rescheduling payment plans and securing additional financing, the company was able to continue investment projects, including opening a new hospital.
PUMB’s role in fostering professional dialogue
The panel provided a platform for sharing practical case studies between representatives of different sectors and the forum’s professional audience. Participants demonstrated that investment decisions can help reduce risks and create new revenue streams.
“Today it is critically important for Ukrainian businesses not to face their challenges alone. That is why First Ukrainian International Bank (PUMB) supports professional platforms where representatives of different industries can speak openly not only about risks but, above all, about solutions that work. For us as a bank it is particularly valuable to see how the experience of one company becomes a source of new ideas for others. These discussions go far beyond individual businesses: they help to rethink approaches to management, investment and partnership, and therefore lay the foundation for the resilience and further development of the Ukrainian economy. We are convinced that even in the most difficult conditions businesses must continue to move forward, and the role of financial partners is to help turn those decisions into real opportunities,” said Pavlo Prytyko, director of the department for work with medium-sized businesses at First Ukrainian International Bank (PUMB).
