NBU: Non-bank financial market in figures – October

During October, the National Bank received 580 requests from financial institutions. The largest number of inquiries concerned financial companies, pawnshops and lessors – 458. The number of inquiries concerning credit unions was 39 and insurers – 83.

October was marked by the largest number of requests from market participants for registration and licensing actions since July. During this month, the largest number of requests for significant participation in financial companies in four months was approved (15 requests for significant participation in 12 companies); the largest number of institutions was entered in the State Register of Financial Institutions (hereinafter – SFRU) and other registers (6 companies).

Decisions on licensing and registration were made

As of October 31, the National Bank adopted decisions on:

  • approval of the acquisition of significant participation;
  • issuing licenses to financial companies;
  • revocation of all licenses (at the initiative of the applicant) and (compulsory);
  • revocation of part of the existing licenses (at the initiative of the applicant) and (compulsory);
  • inclusion in the State Tax Service;
  • inclusion in the register of lessors;
  • inclusion in the register of brokers;
  • exclusion from the State Tax Service and other registers (at the initiative of the applicant) and (compulsorily);
  • registration of the rules of voluntary insurance in the new edition or changes to them.

It should be noted that all decisions on non-banking financial institutions were made by the National Bank at the initiative of the applicants themselves, and not within the scope of enforcement measures.

Financial market of Ukraine in figures

As of October 31, 2020, there are 74 banks and 2,079 participants in non-banking financial services markets in Ukraine.

In October, the number of operating banks did not change, the number of non-banking market participants decreased from 2080 to 2079. Currently, the non-banking market consists of 195 risky (non-life) (there were 196) and 19 life (life insurance) insurers, 303 (there were 304) pawnshops, 324 (there were 327) credit unions, 147 (there were 145) leasing companies, 1026 (there were 1025) financial companies, 65 (there were 64) insurance brokers. There are 36 payment systems created by residents and 13 international payment systems created by non-residents in the payment market.

In October, three credit unions, one insurer, two pawnshops and one financial company left the market on their own initiative and were excluded from the State Tax Service. At the same time, a new pawnshop was registered (PA “Lombard” LLC “Foxter Product and Company”), two new financial companies (LLC FC European Microfinance Alliance and LLC FC Smart Pay), two leasing companies (LLC Olmax Group ”And“ Sandora ”LLC) and a new insurance broker (“ Welfare and Protection ”LLC).

More detailed information can be found in the monthly ” News of licensing and registration of financial institutions ” on the page of the official website of the National Bank.