In 2025, the National Bank of Ukraine intends to test a new methodology for the supervisory assessment of the activities of non-banking financial institutions. The development of this methodology is one of Ukraine’s obligations to the IMF and is defined as a structural reference within the current cooperation program. About this reported in the annual report of the NBU for 2024.
The updated rating system will cover various types of non-bank institutions, including insurance companies, financial institutions, pawn shops and credit unions. The methodology provides an analysis of the risk profile using quantitative and qualitative criteria, with increased attention to the corporate governance system in the insurance sector.
Over the past year, the regulator actively conducted inspections of such institutions: 24 of the 26 planned inspections (12 at financial companies and 14 at insurers) were fully or partially conducted. According to their results, various measures of influence were applied to a number of institutions.
Sanctions include cancellation of licenses in 9 cases (6 insurers and 3 financial companies), obligations to eliminate violations in 5 cases, as well as three written warnings. In addition, fines were imposed on 4 companies for violations of financial legislation, and another 6 for violations of consumer rights.
As a result of such actions by the NBU, non-banking institutions paid a total of 7.15 million hryvnias in fines in 2024. It is expected that the introduction of the new methodology will make it possible to strengthen regulatory control and improve the protection of the interests of clients in this sector.
In the fourth quarter of 2024, there was an increase in assets in the field of non-bank finance – especially in finance companies, insurers and pawnshops. Financial companies showed the greatest increase — at the level of 7.7%.
