Fifty-three actors leave non-bank financial services market in Feb - NBU

One new player emerged in the non-bank financial services market in February, while 53 participants left.

That’s according to the National Bank press service, Ukrinform reports.

"The number of participants in the non-banking financial market in February decreased from 1,436 (as of January 31, 2023) to 1,384 (as of February 28, 2023)," the report reads.

It is noted that one insurer bearing a special status was included in the register in February. At the same time, 53 participants of the non-banking financial services market were excluded from the registers: 13 financial companies, an insurer, two pawnbrokers, a credit union, a leasing company, and three insurance brokers were taken off the registers voluntarily, and the other 30 financial companies, a pawnbroker, and a lessor were forcibly expelled.

As of February 28, a total of 115 non-life insurers (116 in January) and 12 life insurers (the number saw no change), an insurer with a special status, 176 pawn shops (previously 179), and 159 credit unions (there were 160) operated in the non-bank market, as well as 95 leasing companies (down from 97), 701 financial companies (down from 744), 58 insurance brokers (down from 61) and 67 collectors (the number did not change). In addition, 25 banking groups (the number did not change) and 22 non-banking financial groups (there were 23) were recognized on the market.

There are 37 payment systems (previously 38) created by residents, including state-run ones, and 16 international payment systems created by non-residents (the number did not change) on the payment market. In addition, providers of financial payment services operating on the market have three banks - issuers of electronic money (number unchanged) among them. Other entities operating in the payment market include 41 commercial agents (previously 40) and 35 payment service technology operators (the number did not change).

As Ukrinform reported earlier, the number of participants in the non-banking financial market in January decreased from 1,459 (as of December 2022) to 1,436.