Changes in the Ukrainian non-banking financial services market in March 2024

Changes were recorded in the Ukrainian non-banking financial services market in March 2024: the number of participants decreased to 1056, with two new players entering the market and six existing ones leaving it. This information was provided by the National Bank of Ukraine.

In March, two financial companies and two pawnshops were removed from the register by force, and two credit unions were excluded at the request of their representatives. At the same time, two insurance brokers were added to the register.

Also, during the month, the NBU revoked the licenses of six institutions - two financial companies, two pawnshops, and two credit unions - at their own request. Another six financial companies received a reduction in the scope of their financial services licenses.

Under the new legal requirements, the NBU reissued licenses for 70 pawnshops, 469 financial companies, 5 lessors, and 96 credit unions.

At the end of March, 589 financial companies, 86 non-life insurers, 12 life insurers, 1 insurer with a special status, 123 pawnshops, 127 credit unions, 5 lessors, 39 insurance brokers, and 74 collection companies were operating in the market.

According to the same data, there were 18 banking groups and 21 non-banking groups in the market. In the field of payment services, there were 18 resident payment systems and 15 international payment systems established by non-residents.

In addition, 20 payment institutions, 12 financial institutions authorized to provide payment services, 1 e-money issuing bank, and 1 postal service operator operated in the financial payment services market.

In March, the NBU received 369 requests from market participants for registration and licensing actions.