System Capital Management () or SCM is a Ukrainian financial and industrial holding company established in 2000 in Donetsk, Ukraine. It is currently headquartered in Kyiv.Систем Кепітал Менеджмент (СКМ)
The company is Ukraine’s largest private-sector employerBiggest private donor: Rinat Akhmetov allocates UAH 11.3 billion ($315 million, €270 million) to help Ukraine and its citizens during three years of the all-out warAkhmetov's SCM pays UAH 73.2 bln in taxes to budget in 2022 – company and taxpayer.Названі найбільші платники податків України: Нафтогаз, Укрзалізниця, група "Приват"
SCM’s portfolio includes more than 250 companies,[About SCM https://scm.com.ua/en/about] across over 30 countries, employing approximately 150,000 people.Ukraine’s Richest Billionaire on SCM and War Efforts
SCM’s portfolio businesses operate in energy, metals and mining, minerals, logistics, infrastructure, agriculture, telecommunications, real estate, finance and others.How Ukraine's Largest Investment Holding is Making Sure Russia Pays For its Invasion SCM develops large scale industrial facilities, with active development projects in a number of countries, including Italy, Poland, Croatia, and Romania.[About SCM https://scm.com.ua/en/about]
In an interview with The Guardian in May 2026, Rinat Akhmetov noted: “First of all we decided to trade in coke and coal, earning fairly small money. It started piling up and we began buying minority stakes in industrial companies. Stakes in metallurgy plants were very cheap as there was no competition from western businesspeople to invest in Ukraine, and many locals wanted to take their money to the west.”‘I was five seconds from death’: Rinat Akhmetov, Ukraine’s richest man, on owning Shakhtar and resisting Russia
At the launch of the "Invest in Ukraine" initiative in September 2026, it was revealed that SCM had invested over $4.3 billion in the country since February 24, 2022, with approximately $1 billion of that amount going toward the restoration of facilities destroyed by the Russian Federation.SCM від початку повномасштабної війни інвестувала в Україну понад $4,3 млрд
Structure
The biggest company in the SCM Group is Metinvest, involved in the mining and steel business. It is one of Ukraine's largest private business and one of the biggest steel producers in Europe. It is also the largest Ukrainian producer of iron ore. In addition to Ukraine, Metinvest has assets in the US, Italy, UK, Bulgaria, and Switzerland.
DTEK, involved in electricity generation (both from thermal and renewable sources), distribution and customer service. As of 2025, DTEK has invested $1.2 billion in renewable energy, and has committed €450 million to the expansion of its Tyligulska Wind Power Plant, which can power nearly one million homes in south-west Ukraine once live.Tyligulska
Ukrtelecom, the national telecommunications operator of Ukraine. In 2024 alone, nearly 7,000 kilometres of fibre-optic cable were installed, enabling over 3 million households to access modern digital services even amid the full-scale Russian invasion.In 2024, Ukrtelecom laid almost 7,000 km of optical cable for 3 million households
First Ukrainian International Bank (FUIB or PUMB/ПУМБ) is the largest privately owned bank in Ukraine.FUIB It is recognized as a systemically important bank by the National Bank of Ukraine (NBU).NBU revises list of systemically important banks FUIB is also an authorized institution for safeguarding the NBU’s cash reserves.FUIB to store NBU’s cash reserves The bank serves 147,000 corporate clients and more than 1.9 million retail customers, offering a comprehensive range of financial services. Банк ПУМБ став офіційним партнером RAU Expo 2025 According to the NBU, FUIB ranks among the top five banks in Ukraine by loan portfolio size, total assets, and client account balances.ПУМБ завершив перше півріччя 2025 року з прибутком 3,57 млрд грн
Lemtrans Group is the largest transport and logistics group in Ukraine,The largest private railway freight operator in Ukraine plans to build a modern container terminal in Fastiv providing freight transportation services by rail, road, and marine routes both within Ukraine and the European Union. The Group's companies operate a fleet of freight rolling stock and containers, car maintenance facilities and container terminals (agriculture, mining and other industries).
ESTA Holding, an established player in Ukraine’s commercial real estate sector, specialising in offices, shopping centres, and hotel properties.Еста Холдинг Notable assets include the Leonardo Business Centre and five-star Opera Hotel in Kyiv. In 2016, after four years of reconstruction, ESTA Holding reopened Kyiv Central Mall (TSUM) on the capital’s main thoroughfare - Khreshchatyk.Esta holding investments in TsUM shopping mall in Kyiv exceed USD 100mln
umgi, a private equity firm founded by SCM in 2006. umgi was established to develop industrial ventures both in Ukraine and internationally. umgi currently manages a portfolio of eight companies across Ukraine, Poland, Spain, Italy, Turkey, Romania, Serbia,IN 2024, UMGI PORTFOLIO COMPANIES INCREASED THEIR GROSS REVENUE and India.Інвесткомпанія umgi у 2022-2023 рр. вклала в розвиток бізнесів групи СКМ майже $22 млн, відкрила завод у Туреччині These assets operate in diverse sectors including the green economy, industrial goods and services, and mining. As of December 2024, the collective market value of businesses under umgi's management reached $500 million.Businesses of SCM Group's investment company Umgi boost revenue by 50% in 2024
HarvEast Holding is a diversified agribusiness overseeing a land bank of 123,000 hectares in Kyiv, Zhytomyr, and the Ukraine-controlled territory of Donetsk region. Сrop production is a priority area of activity of HarvEast. The main crops are winter and spring cereals (wheat, corn, barley), sunflower, rapeseed, and niche crops.HarvEast Holding
SCM operations amid Russian military invasion On 22 February 2022, in the aftermath of the Russia's invasion into Ukraine, Akhmetov announced that the company was going to pay $34 million in taxes upfront to bolster Ukraine's treasury.
Shortly after Russia invaded Ukraine, Akhmetov stated that the company's goal in war conditions was to help Ukrainians withstand the invasion: "My Foundation is helping Ukrainians survive by providing water, food, medicines, and any help we can give here and now. SCM businesses are helping the army and territorial defence forces defend our sovereignty, our freedom and independence, and win the war," he stated. Akhmetov stated that SCM was using its international connections and opportunities to communicate to their international partners that Ukrainians were dying and suffering because of Russia's aggression: "What is unfolding here is a war crime and a crime against humanity, against Ukraine and the Ukrainians. This can neither be explained nor justified."
SCM itself and its businesses have been some of the largest corporate supporters of the Ukrainian population and military since the outbreak of the war. In 2022 alone, SCM companies paid UAH 73.2 billion in taxes (approximately US$2.7bn). SCM together with the Rinat Akhmetov Foundation have channeled over UAH 11.3 billion ($315 million) to help Ukraine.Ахметов спрямував вже 11.3 млрд на підтримку ЗСУ
This included the following assistance: Through Steel Front, distributed ammunition, vehicles, drones, thermal imagers, radios, armor, medical kits, fuel, and more to Ukrainian military units. For example, Steel Front has already provided over UAH 85 million in support to the 157th Brigade.Левченко став власником квартири Launched the "Heart of Azovstal" project, allocating UAH 1 billion (~$25 million) to support defenders of the city of Mariupol with housing, medical care, legal and social assistance.Про "Серце Азовсталі" Launched the "Saving Lives" humanitarian mission, delivering food, hygiene kits and medicines to displaced civilians and frontline communities. In 2023, this project directed EUR 1.26 bn to projects on the ground, including delivering approximately 70,000 food kits.Рятуючи життя The football club "Shakhtar" also provides consistent humanitarian assistance, supporting Ukraine’s military, aiding displaced families, and supplying medical equipment to hospitals.The football club "Shakhtar" also provides consistent humanitarian assistance, supporting Ukraine’s military, aiding displaced families, and supplying medical equipment to hospitals
In addition to support from SCM itself and Rinat Akhmetov, SCM portfolio companies have also been leaders in supporting Ukraine: Metinvest has been a major pillar of Ukraine’s defence and humanitarian aid, contributing over UAH 8.4 billion (≈ US $225 million) across military, social, and economic fronts.Metinvest Allocated 8.4 Bln UAH to Support Ukraine The company provided free steel, armour plates, 150,000+ bulletproof vests, 25,000 helmets, and 679 mobile dugouts/command shelters. More than 8,000 employees serve in the military and are supplied with armour, winter gear, and mental‑health support. Metinvest is Ukraine’s top private donor, continuingly paying full taxes (UAH 19.8 billion in 2024), maintaining operations despite disrupted assets, and investing in post‑war reconstruction projects like "Steel Dream".
DTEK has committed over UAH 1 billion (~US $30–35 million) to military and humanitarian aid.28 тисяч працівників ДТЕК стали донорами для ЗСУ DTEK has provided free power—valued at ~UAH 350 million—to over 100 critical infrastructure facilities including hospitals, military facilities, bakeries, and water treatment plants in Kyiv, Donetsk, and Dnipropetrovsk regions. DTEK’s crews restored power to millions of homes across frontline areas, investing UAH 300 million in grid restoration and repairing war‑damaged power plants.
Ukrtelecom allocated around UAH 50 million to the military, delivering nearly 3,000 tactical first-aid kits, 4,000 tourniquets and 2,000 hemostatic bandages. Ukrtelecom ensured access to communication services in about 90% of settlements that had been covered by its network before the full-scale invasion. The company also equipped 503 school bomb shelters with Wi‑Fi and reconnected numerous medical and educational institutions. It continues to restore connectivity after frequent nationwide cyberattacks.Ukrainian telco suffers a "powerful cyberattack"
Since the beginning of the full-scale invasion, the Lemtrans Group has allocated over UAH 43 million to support various projects. This assistance has included transfers to the special account of the National Bank of Ukraine, payment of logistics tariffs for the transportation of humanitarian aid, as well as the delivery of food to several regions across the country.Lemtrans summed up the preliminary results of the company’s work in 2023
First Ukrainian International Bank has contributed over UAH 916 million (~US $22 million+) through social projects and direct military aid. FUIB initiated a social project, "We are of the same blood," to support Ukrainian soldiers and civilians with blood supplies. This is a large-scale partnership project, which has 45 partners, including public organizations, illustrators, brands, shops, exhibition organizers, and even a football club. During its existence, the initiative "We Are of the Same Blood" raised more than 10 million UAH. The funds were used for 92 blood deliveries to hot spots; more than 6.7 thousand tactical medicine products; and 61 kits for emergency paramedics. Altogether, saved more than 160,000 lives. Approximately 3000 Ukrainians became donors, which means hope for recovery for 9,000 people.FUIB’s investments in sustainable development reached UAH 341 million in 2024Clothing That Saves Lives: DonorUA and FUIB Present the "We Are Of The Same Blood" Project at the Paris Olympics