Ukraine's Central Bank Holds Inaugural Meeting with Major Financial Firms

Meeting with Financial Companies

According to НБУ: The National Bank of Ukraine (NBU) has convened its inaugural meeting with representatives from major financial companies. The discussion focused on key market conditions, new regulatory requirements, combating unlicensed financial activities, promoting financial inclusion, and establishing a dedicated industry association. The meeting was attended by NBUs Chairman, Andrii Pyshnyi, First Deputy Chairman Serhii Nikolaichuk, and Deputy Chairman Dmytro Oliinyk.

In 2026, the NBU approved a list of 52 institutions designated as significant financial companies. This status is granted to financial institutions meeting specific criteria, which include:

• The scale of operations (a market share of assets and off-balance sheet obligations of at least 1%),
• The level of risk posed to consumers,
• Participation in state or municipal programs,
• Connection to financial groups.

As of February 2026, 407 financial companies were operating in the market, though this represents a 65% decline in participants since the list was approved. This consolidation reflects the regulator's ongoing efforts to strengthen oversight in a challenging economic environment.

Analysis and New Requirements

The meeting also reviewed the results of an in-depth analysis conducted by the NBU in 2025. This analysis targeted internet services and currency exchange networks that were providing financial services without proper licenses. The NBU plans to bring financial companies into compliance with new requirements by July 1, 2026, with full implementation of internal audit standards scheduled for September 30, 2026.

Andrii Pyshnyi emphasized: 'In wartime conditions, this is a crime, so the de-shadowing of the financial sector is our priority.'

Additional requirements for significant companies include:

• Submitting strategic plans for 3.5 years,
• Undergoing enhanced verification of fund origins, ownership structure, and management,
• Conducting regular risk self-assessments, with mandatory reporting by July 15 each year.

Importantly, such meetings will now be held quarterly to maintain an active dialogue between the NBU and financial institutions.

This inaugural meeting marks a significant step in shaping a new regulatory environment for financial companies in Ukraine. The NBU is working to ensure institutions comply with new standards, which could enhance transparency and reduce risks within the financial sector. These regular meetings are intended to foster active communication and allow for a swift response to evolving market conditions.