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Nonbank Financial Market in June: No New Players and Six Out

In June, the number of nonbank financial market players declined from 1,659 (as of 31 May) to 1,653 (as of 30 June).

As of 30 June the number of bank remained unchanged and was 69.

Last month the NBU did not register any new participants of the nonbank financial market.

At the same time six participants were expunged from the registers, namely a pawnshop and an insurance broker (voluntarily, based on submitted requests), and a financial institution, a pawnshop, and two leasing companies (forceably, due to lack of effective licenses).

Furthermore, based on the submitted request all licenses were cancelled to one pawnshop. Another pawnshop and another financial institution got forceable license cancellation.Also,  one financial institution had some its licenses forcibly cancelled, and another financial institution had its license suspended.

As of 30 June, the nonbank financial market was represented by 129 nonlife insurers (the number remained the same as in the previous month), and 13 life insurers (the number has not changed), 195 pawnshops (in contrast to 197), 187 credit unions (the number remained the same), 108 leasing companies (in contrast to 110), 892 financial institutions (in contrast to 893), 62 insurance brokers (in contrast to 63), and 67 collection agencies (the number remained the same).

In addition, 24 banking groups and 23 nonbank financial groups were recognized on the market.

The payment market includes 37 domestic payment systems founded by residents and 16 international payment systems.

In June, the NBU received 207 requests for registration and licensing from market participants. Financial institutions, pawnshops and lessors accounted for 154 requests, credit institutions (banks and credit unions) – 34, insurers – 18, payment institutions – 1.

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