Financial sector news

In September 2024, the non-bank financial services market lost 21 participants, while one new player appeared. The total number of non-banking institutions decreased from 946 to 926. The number of banks remained at 62, the NBU reports.

One collection company and one credit union were excluded from the registers at the initiative of the applicant. 16 financial companies, two insurers and one pawnbroker were forcibly excluded. At the same time, one collection company is included in the State Register of Financial Institutions. 
During September, 11 financial companies and one credit union had all their licenses revoked voluntarily (on the basis of their applications). The licenses of five financial companies and two insurers were also forcibly revoked. At the same time, the National Bank of Ukraine agreed to narrow the scope of the license to 19 financial companies and two insurers. 
As of October 1, there were 509 financial companies working on the non-bank financial services market (in September there were 525), 64 non-life insurers (there were 66), 11 life insurers (the number did not change), one insurer with a special status, 113 pawnshops (there were 114), 110 credit unions (there were 111), 1 lessor (the number did not change), 42 insurance brokers (the number did not change) and 75 collection companies (the number did not change).

In addition, 18 banking groups (the number did not change) and 30 non-banking financial groups (there were 31) were recognized on the market.
The payment market includes 16 payment systems created by residents, including state ones (the number has not changed), and 15 international payment systems created by non-residents (the number has not changed).At the same time, 18 payment institutions (the number has not changed), 12 financial institutions entitled to provide payment services (the number has not changed), one bank - issuer of electronic money (the number has not changed) and one postal operator (the number has not changed) operate in the market of providers of financial payment services. Other entities operating in the payment market include 48 commercial agents (the number has not changed) and 30 technological operators of payment services (the number has not changed). Information on all participants in the payment market is available here. In September, the National Bank of Ukraine received 352 requests from market participants regarding registration and licensing actions. The number of requests regarding financial companies, pawnshops and lessors was 216, insurers – 72, credit unions and collection companies – 33, banks – 30, and payment service operators – 1.