Financial Market Players Shrink as Ukraine’s Central Bank Cuts Licenses: Here’s the Updated Count.

Snapshot of Ukraine’s Non-Bank Financial Sector

According to Мінфін — Крипто/Фінанси: By June 2026, the number of participants in Ukraine’s non-bank financial market had dropped to 738 institutions, while the total number of banks held steady at 59. The National Bank of Ukraine (NBU) revoked the licenses of two financial firms and one pawnshop, contributing to this shift. This regulatory action is part of a broader effort to clean up the sector and ensure compliance.

As of July 1, 2026, the non-bank financial services market included 389 financial companies. The number of pawnshops fell from 97 to 96, and the count of insurance brokers decreased from 46 to 43. At the start of July, the following entities were registered:

• 47 non-life insurers
• 10 life insurers
• 1 insurer with special status
• 79 credit unions
• 1 leasing provider
• 72 debt collection firms

The number of banking groups remained unchanged at 15, while non-bank financial groups totaled 39. In June, the payment market featured 13 payment systems, including two state-run and 10 international ones. Payment institutions declined from 16 to 15. Amid these changes, the NBU received 171 requests from market participants regarding registration and licensing matters.

Market Trends

Overall, the state of Ukraine’s non-bank financial market as of mid-2026 points to a trend of consolidation, with fewer institutions and services available. This could shape the future trajectory of the country’s financial sector.

The reduction in non-bank financial market players may indicate waning competition in this area, which in turn could affect the accessibility of financial services for the public.

The revocation of licenses for certain companies reflects tighter regulatory oversight by the NBU, likely aimed at stabilizing the market and safeguarding consumer rights. These developments carry both potential benefits and risks for the broader Ukrainian economy.