The National Bank introduced requirements for the activities of significant financial companies

The National Bank of Ukraine defined the criteria for determining the significance of a financial company and introduced new requirements for their activity.

The importance of a financial company is determined taking into account the volume of its assets, off-balance sheet liabilities and a number of other factors.

In particular, it can be:

• the presence in the company of the status of a responsible person of a medium or large financial group recognized by the NBU;
• establishment by the National Bank of a high or very high risk of violation of the rights of consumers of its financial services;
• providing financial services within state or local programs to certain categories of persons with certain conditions.

For companies recognized as significant, additional rules have been introduced regarding authorization conditions and the management system. They are obliged to prepare and submit to the National Bank an activity plan for the next three and a half years in accordance with the established rules. Also, companies must inform the NBU about the increase in authorized capital, providing documents on the sources of funds within 15 working days.

In addition, the National Bank has the right to immediately check the sources of capital formation or increase, as well as evaluate new managers for compliance with the requirements of professional suitability and business reputation. New owners of significant participation, in turn, must meet established criteria regarding business reputation, financial and property status.

In addition, changes to the Regulations on the Corporate Governance System oblige significant companies to conduct a self-assessment of risks, to inform the National Bank of its results and to adjust business planning documents taking into account the identified risks. The NBU plans to publish the first list of significant financial companies by February 1, 2026. Identified companies will have to bring their activities in line with the new requirements by July 1, 2026.