Almost no changes in the financial market: the NBU counted financial service providers
15 April 2025 09:42
In March, the number of non-bank financial market participants decreased from 855 to 838, the number of banks decreased by one, and now there are 60 of them in Ukraine. This was reported by the National Bank, according to "Komersant Ukrainian".
As of April 1, the non-banking financial services market was operating:
– 451 financial companies (there were 464);
– 53 non-life insurers (54 before), 10 life insurers (unchanged), and one insurer with a special status;
– 108 pawnshops (no changes);
– 98 credit unions (there were 101);
– 1 lessor (no changes);
– 43 insurance brokers (no changes);
– 73 collection companies (unchanged).
The number of banking groups in the market has not changed (15), while the number of non-banking financial groups has increased to 41 (40).
The NBU also reported no changes in the payment market: there are 15 payment systems created by residents, including state and 14 international ones.
The market of financial payment service providers is also stable: 18 payment institutions, 12 financial institutions authorized to provide payment services, one bank issuing electronic money, and one postal operator operate there.
Other entities operating in the payment market include 50 commercial agents (there were 49) and 31 payment service technology operators (there were 30).
What indicators did the banking sector have this year
As noted in the February Banking Sector Review, the volume of banks’ net assets in the fourth quarter of 2024 increased by 7.6%, and by 16.2% for the whole year (at the exchange rate fixed at the beginning of the period – by 7.0% q/q and 13.1% y/y, respectively). First of all, investments in domestic government bonds grew by 11.2% over the quarter and by more than a third over the year.
Net hryvnia loans to businesses have been growing for a year and a half in a row. Despite a certain seasonal slowdown in the fourth quarter (down to 0.7% qoq), the year-on-year increase amounted to 20.6%. Net hryvnia loans to households grew rapidly: by 6.7% in the fourth quarter, by 39.9% for the year. This portfolio continues to be dominated by unsecured loans.
The volume of hryvnia deposits of individuals in banks increased by 3.7% (11.5% yoy) over the quarter. Hryvnia deposits of businesses grew by 16.6% qoq (19.0% yoy). All groups of banks showed growth.
Capital adequacy remained at high levels and amounted to about 17% for each level of capital as of January 1.
Non-banking sector assets also grew
The total assets of nonbank financial services providers increased by 6.8% in the fourth quarter of 2024, with financial companies’ assets growing by 7.7%, insurers’ by 3.8%, and pawnshops’ by 2.2%. In contrast, the assets of credit unions declined. The share of non-bank financial institutions under the NBU’s supervision in the financial sector’s assets decreased to 10.2% in the fourth quarter. This is stated in the Review of the Non-Banking Financial Sector.
About 86% of financial companies were profitable in 2024. Almost half of the segment’s profit was earned by the state-owned institution PJSC Ukrfinzhytlo, the operator of the eHouse program, from interest payments on domestic government bonds in the capital. However, even without taking into account the financial result of Ukrfinzhytlo, the segment’s profit for 2024 increased 2.4 times compared to 2023.
