In April–June 2026, the assets of non-bank financial service providers increased, while financial companies posted record profits.
This was reported by the National Bank of Ukraine in its Non-Bank Financial Sector Review for the second quarter of 2026.
“Insurers, pawnshops and credit unions increased their assets, with credit unions doing so for the first time in two years. Financial companies and pawnshops posted their highest financial results on record,” the NBU said.
The share of non-bank financial institutions in the assets of the financial sector supervised by the National Bank declined by 0.2 percentage points to 8.8% during the second quarter, as banks grew at a faster pace.
In April–June, insurers increased their assets: non-life insurers by 3.4% quarter-on-quarter and 26.3% year-on-year, and life insurers by 3.9% quarter-on-quarter and 14.9% year-on-year.
Insurance premiums increased in the non-life segment but declined in life insurance. At the same time, net profit for the first half of the year increased in both segments. Non-life insurers’ profits rose by more than two-thirds due to higher underwriting results and investment income, while life insurers’ profits increased by two-thirds as higher investment income offset weaker insurance results. All non-life insurers complied with regulatory requirements.
Credit unions increased their assets quarter-on-quarter for the first time in more than two years, although assets continued to decline year-on-year, falling by 7.2%. The volume of new loans also increased on a quarterly basis but declined year-on-year.
Moderate profitability helped credit unions increase their equity by 1.4% during the quarter, although it remained 2.9% lower year-on-year. One loss-making credit union breached capital requirements and was removed from the State Register of Financial Institutions at its own request in August 2026.
Financial companies’ total assets remained unchanged during the quarter, while the volume of financial services provided increased by almost a quarter quarter-on-quarter and by 82.7% year-on-year, primarily due to a sharp increase in guarantees and financial leasing.
Factoring operations declined, while the loan portfolio remained almost unchanged. More than half of the sector’s record-high net financial result of UAH 8.0 billion was generated by Ukrfinzhytlo, the state-owned operator of the eOselia affordable mortgage programme. Three financial companies breached regulatory requirements.
Pawnshops increased their assets by 4.9% quarter-on-quarter and 10.6% year-on-year, while the volume of new loans rose by 0.6% quarter-on-quarter and 21.0% year-on-year. Thanks to higher income from services and the sale of collateral, the segment posted record profits despite an increase in administrative and other expenses.
