In the fourth quarter of 2024, assets in the non-banking financial sector of Ukraine, in particular, financial companies, insurers and pawnshops, grew. This is stated in the Review of the Non-Banking Financial Sector from the National Bank of Ukraine.According to the published data, the total assets of non-banking financial service providers increased by 6.8%. Financial companies showed the largest growth – by 7.7%. The assets of insurers increased by 3.8%, and pawnshops – by 2.2%. At the same time, credit unions saw a decrease in assets, which as of the end of 2024 amounted to only about 60% of the 2021 level.Insurers
The net profit of risk insurers for 2024 amounted to UAH 2.5 billion, which is 31% more than a year earlier. Their return on capital increased by 4 percentage points to 14%.Credit unions
Unlike other segments, credit unions incurred losses in the fourth quarter due to the realization of credit risk and an increase in reserves, which negatively affected the profitability of this segment for the entire 2024. This led to a slight reduction in the equity of credit unions and a decrease in deposits due to the return of funds to depositors and the exit of some institutions from the market.Financial companies and pawnshops
In the financial companies segment, about 86% of institutions were profitable in 2024. Almost half of the profit in this segment was earned by the state institution PrJSC “Ukrfinzhytlo” - the operator of the “eOselya” program. However, even without taking into account its results, the segment's profits for 2024 increased by 2.4 times compared to 2023.Let us remind you that the National Bank has updated its approach to the procedures for authorizing non-banking financial institutions. This was done in order to prevent the influence of the aggressor state on the financial market of Ukraine and to expand the list of activities that payment institutions have the right to combine with the provision of financial payment services.
Source: https://fintechinsider.com.ua/finansovi-kompaniyi-pokazaly-najbilshe-zrostannya-aktyviv-sered-nebankivskyh-ustanov-nbu/
