СУЧАСНИЙ СТАН ТА ТЕНДЕНЦІЇ РОЗВИТКУ УКРАЇНСЬКОГО РИНКУ НЕБАНКІВСЬКИХ ФІНАНСОВИХ ПОСЛУГ

Abstract

The article highlights the concept of the market of non-banking financial services in accordance with the requirements of Ukrainian legislation and identifies the main intermediaries operating in this market. The study contains analytical data on the number of non-bank financial institutions operating in Ukraine, as well as the volume of assets of such financial institutions. The authors also present an analysis of the main trends in the development of the non-banking financial services market. For comparison, the structure of the financial market is presented in the form of the ratio of the number of banking and non-banking institutions. The article provides an analytical overview of the number of private pension funds, financial companies, pawnshops, credit unions and insurance companies operating in Ukraine over the past three years. The structure and volume of financial services provided by insurance companies have been studied separately. The authors state that despite the existence of non-bank financial institutions, the banking sector still prevails. Moreover, financial companies predominate in terms of assets among representatives of non-bank financial institutions. Despite the coronary crisis during 2016-2020, the number of financial companies and other non-banking institutions, including pawnshops and insurance companies, grew steadily. Such trends are assessed positively, as it indicates the development of the financial market and its stability in adverse conditions. In Ukraine, the market of non-banking financial services is underdeveloped compared to other countries, but despite the mentality and transition in the formation of the non-banking financial sector, it has good prospects for development. However, despite the positive changes, ways to improve the performance of non-bank financial institutions in crisis conditions have been proposed.