In February, for the first time in six months, the number of non-banking market participants began to grow. The number of financial institutions increased from 2006 (as of January 31) to 2009 of non-bank financial institutions.
Within a month, the National Bank decided to register twelve new financial companies and two leasing companies. Also in February, the National Bank registered a new payment system “CORDDPAY”, created by JSCB “CONCORD”.
At the same time, two credit unions, three pawnshops, one leasing company and six financial companies left the market on their own initiative and were excluded from the registers.
Today the non-banking market consists of 190 risky (non-life) and 20 life (life insurance) insurers, 298 pawnshops (there were 301), 316 credit unions (there were 318), 144 leasing companies (there were 143), 976 financial companies (there were 969), 65 insurance brokers. There are 37 payment systems created by residents and 13 international payment systems created by non-residents in the payment market.
Decisions on licensing and registration were made
In February, the National Bank received 386 inquiries from market participants. The largest number of inquiries concerned financial companies, pawnshops and lessors – 307. The number of inquiries concerning credit unions was 11 and insurers – 68.
In February, the number of requests for non-banking institutions decreased by 30% compared to January. The number of applicants for revocation of licenses also decreased (25 against 59 in January).
As of February 28, the National Bank adopted decisions on:
- approval of the acquisition of a significant stake in banks [1];
- refusal to agree on the acquisition of a significant stake in banks [1];
- approval of the plan to terminate banking activities without termination of the legal entity [1];
- approval of acquisition of significant participation in non-banking institutions [7] and increase of significant participation [1];
- refusal to agree on the acquisition of significant participation in non-banking institutions [5];
- approval of bank recapitalization [2];
- approval of bank managers [13];
- refusal to approve the heads of banks [1];
- issuing licenses to financial companies [11];
- refusals to issue licenses to financial companies [2];
- revocation of all licenses of credit unions [1], pawnshops [3], financial companies [2], leasing company [1], insurance company [1] (at the initiative of the applicant) and [0] (compulsory);
- revocation of part of the existing licenses of financial companies [17] (at the initiative of the applicant) and [0] (compulsory);
- registration of financial companies [12], leasing companies [2];
- exclusion from credit institutions of credit unions [2], pawnshops [3], financial companies [6], from the register of lessors [1] (at the initiative of the applicant) and [0] (compulsorily);
- refusal to include in the State Tax Service [1];
- registration of the rules of voluntary insurance in the new edition or changes to them [2];
More detailed information can be found in the monthly “News of licensing and registration of financial institutions”.
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