Financial sector news

In a column for Forbes Ukraine magazine, Andriy Pyshnyy, Governor of the National Bank of Ukraine, outlined the key global and domestic transformations that will shape the development of the banking sector until 2030.

According to him, the main global trends include the platformization of the banking business, the strengthening of the role of BigTech and the redistribution of income, the development of central bank digital currencies (CBDCs), regulatory upgrades, and investments in human capital.

At the same time, a number of priority tasks have been identified for the Ukrainian financial sector in the medium term. In particular, these include the formation of a development strategy for state-owned banks, further improvement of banking supervision using a risk-based approach, and refinement of legislation in the field of virtual assets.

The NBU Governor paid particular attention to the need to continue working with the non-banking financial sector in terms of regulation, increasing transparency, and developing a risk management system. Other priorities include bringing the financial sector as close as possible to European Union requirements, strengthening financial inclusion, and developing capital market infrastructure.