The National Bank revoked the license of a well-known pawnshop: what happened
11 June 11:28
The National Bank of Ukraine has revoked the license of the general partnership “Lombard Platinum Skarb ‘Melnichuk and Company’.” As a result, the financial institution lost the right to provide funds and precious metals as collateralized loans. This was reported by "Komersant Ukrainian", citing the press service of the National Bank of Ukraine.
The reason for this decision was the pawnshop’s failure to comply with the regulator’s requirements and its disregard for previous decisions by the NBU.
Why the National Bank revoked the pawnshop’s license
According to the NBU, the financial institution failed to meet the regulator’s mandatory requirements, did not rectify the identified violations, and did not bring its activities into compliance with current Ukrainian legislation.
This involves systematic non-compliance with the National Bank’s decisions. The pawnshop was required to rectify the violations identified during the inspection but failed to take the necessary measures.
As a result, the National Bank imposed one of the harshest sanctions on the company—revocation of its license to provide financial services.
What is known about the history of violations
The conflict between the non-bank financial institution and the regulator lasted several months. According to the National Bank, the company not only failed to rectify the violations but also effectively refused to cooperate with the regulator.
As early as April 20, 2026, the NBU issued an official demand to the pawnshop to rectify the deficiencies and violations identified during the inspection.
The financial institution’s management was required to comply with these demands by May 12, 2026. However, the company failed to provide confirmation that the issues had been resolved by the deadline.
In addition, the pawnshop failed to submit to the National Bank any explanations, reporting documents, or copies thereof regarding its financial activities in response to the regulator’s official requests.
When the decision to revoke the license was made
Given the failure to comply with mandatory requirements, the NBU’s Committee on Supervision and Regulation of Non-Bank Financial Services Markets decided to revoke the license.
The decision was adopted on June 8, 2026. It takes effect on the date it is communicated to the company’s management.
Following this, “Lombard Platinum Skarb ‘Melnichuk and Company’” is no longer authorized to engage in the business of providing pawnshop loans.
What does the revocation of a pawnshop license mean?
Revocation of the license means that the financial institution loses the right to provide the relevant financial services. In this case, it refers to a ban on lending funds and precious metals in the form of pawnshop loans.
The National Bank applies such measures to non-bank financial institutions that fail to comply with legal requirements, do not rectify violations, or ignore requests from the regulator.
What clients should know
Clients of non-bank financial institutions should verify whether the company holds a valid license to provide financial services. This can be done through the official resources of the National Bank of Ukraine.
If a financial institution’s license has been revoked, it is no longer authorized to enter into new contracts for such services. At the same time, issues regarding contracts already in place must be resolved in accordance with the law and the terms of the specific agreements.
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