The National Bank of Ukraine is actively preparing the financial system for entry into the European market. The First Deputy Head of the NBU, Serhiy Nikolaychuk, stated that the implementation of most EU legal acts in the financial sector is planned by 2027.
Representatives from 29 higher education institutions participated in the online seminar 'The Financial Sector of Ukraine Today.' Serhiy Nikolaychuk emphasized the importance of joint efforts for the stability of the banking system, which was restored during the period from 2015 to 2017.
State of the financial sector
Director of the Financial Stability Department, Pervin Dadashova, discussed some important points. Lending is becoming the main focus for banks, and the volumes of hryvnia loans for individuals and businesses continue to grow. The insurance market is also stable and developing.
Updating requirements and stress testing of banks
During the seminar, representatives of the National Bank reported on the compliance of banks with updated requirements in the context of integration with the EU. It was noted that all banks successfully meet capital requirements, including the leverage ratio. The need to improve legislation to comply with European Union standards in the area of mortgage lending was also highlighted.
Ukraine is actively preparing for entry into the European financial market by implementing the necessary acts and EU standards within the country's financial system. Efforts to enhance the resilience of the banking system are progressing well, and the financial sector is showing positive trends in development.