The National Bank of Ukraine (NBU) has revoked the licenses of Financial Company No. 1 LLC, which ranked 97th in terms of market revenue in the first half of this year.
“The said financial company does not comply with the legal requirements for maintaining the minimum amount of equity capital. This negatively affects its real and potential financial capabilities, in particular, the level of liquidity, solvency, financial stability, and working capital (equity),” the regulator explained its actions on its website.
According to the NBU, the decision was made by the Committee for Supervision and Regulation of Non-Banking Financial Services Markets on August 28 and came into force on August 29.
According to the NBU, Financial Company No. 1 finished the first half of this year with revenues of UAH 14.9 million and a net loss of UAH 7.96 million.
In terms of labor costs (UAH 1.23 million), FC “No. 1” was 87th in the market in the first half of the year, and 403rd in terms of assets (UAH 15.1 million).
According to OpenDataBot, Financial Company No. 1 LLC was founded in August 2013 by Andriy Stepanenko, co-owner of four IT-related companies (IT Nonstop, Finayti, IT Finance, 24. IT) with a registered capital of UAH 8 million.
Financial Company No. 1, LICENSES, NBU
