The state of the financial market in Ukraine at the beginning of 2026
The financial market of Ukraine continues to shrink. As of January 1, 2026, there were only 775 institutions operating in the country, of which 61 are banks. This indicates further consolidation and a decrease in the number of participants in the non-banking financial market.
In December 2025, six institutions left the market. At the beginning of 2026, the number of financial companies decreased to 411, down from 414 previously. The number of pawnshops also decreased: their number fell from 102 to 101. Credit unions showed a similar trend, decreasing from 86 to 85. The market for risk insurers remained at 47 institutions, while life insurers became 10.
- Number of financial companies: 411
- Number of pawnshops: 101
- Number of credit unions: 85
- Number of risk insurers: 47
- Number of life insurers: 10
- Number of collection companies: 74
- National payment systems: 15
- International payment systems: 10
- Commercial agents: 66
The number of collection companies remained stable at 74. At the same time, the number of national payment systems on the market reached 15, while there are 10 international ones. Additionally, the number of commercial agents increased from 58 to 66.
In December 2025, the National Bank of Ukraine processed 301 requests regarding registration actions, of which 227 concerned financial companies and pawnshops. This data indicates activity in the market despite the overall reduction in the number of institutions.
Impact of the shrinking financial market on consumers
The shrinking financial market in Ukraine may signify a decrease in competition among participants, which could impact the quality of services for consumers. On one hand, consolidation may lead to increased efficiency of financial institutions, on the other hand, the decrease in the number of players may limit choice for consumers. It is important to monitor further changes in the market, as the National Bank's activity in processing requests may indicate the regulator's intentions to maintain the stability of the financial system amid ongoing changes.