According to survey National Bank of Ukraine (NBU) “Systemic Risks” for May 2024, heads of financial institutions of Ukraine consider the war with Russia to be the main threat to the stability of the sector.
However, other risks are intensifying:
- Foreign capital inflows: Concerns about speculative flows and their impact on financial stability have increased, pushing this risk two positions higher than in November 2023.
- The risk remains relevant, highlighting the importance of the efficiency and independence of these institutions for the investment climate.
- The rise of digital technologies in finance increases vulnerability to cyber-attacks and fraud, necessitating increased security measures.
- The risk of a lack of qualified specialists has increased significantly and has entered the top five threats, which can negatively affect the efficiency of financial institutions.
- Protecting the rights of creditors and investors: This risk also increased, rising three positions, indicating a growing concern about the observance of the rights of financial market participants.
At the same time, experts note the weakening of risks associated with the dynamics of world prices for raw materials, the quality of legislation and the tax system, as well as inflationary changes. The survey was conducted with the participation of managers of 22 banks, 10 insurers and two investment companies.
