Number of nonbank market participants decreased in August - NBU

In August 2021, eight new companies entered the nonbank financial services market in Ukraine, while 13 companies left the market, Ukrinform reports, referring to the press service of the National Bank of Ukraine (NBU).

In August, the number of nonbank financial market participants decreased to 1,933 (as of August 31) from 1,938 (as of July 31). The number of banks decreased from 73 to 72.

The nonbank financial market consisted of 153 risk insurance companies (160 before) and 17 life insurance companies, 286 pawnshops (287 before), 301 credit unions (303 before), 138 leasing companies (137 before), 977 financial companies (973 before), and 61 insurance brokers.

The Ukrainian payment market includes 37 payment systems created by residents and 14 international payment systems created by non-residents. In August, the National Bank canceled the registration of the international money transfer system Khazri, created by non-residents.

As reported, on July 1, 2020, the National Bank became the regulator of insurance, leasing, financial companies, credit unions, pawnshops and credit bureaus.

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