FC “Liberty Finance” considers the National Bank of Ukraine’s decision to revoke licenses to be unlawful and will seek their reinstatement through legal proceedings
In connection with the National Bank of Ukraine’s notice dated March 24, 2026, regarding the revocation of Liberty Finance FC’s license to operate as a financial company and its license to conduct cash foreign exchange transactions, we deem it necessary to inform the public of the following.
1. FC “Liberty Finance” disagrees with the relevant decision of the National Bank of Ukraine and considers it illegal.
2. The company operates exclusively within the legal framework and within the scope of the licenses issued by the regulator. The information regarding two unlicensed transactions conducted by employees of Liberty Finance FC, which the regulator used to justify its decision, is untrue. Such situations are fundamentally impossible in our customer service branches due to our transparent operational model.
3. At the time of the license revocation, Liberty Finance FC is in the process of actively challenging the NBU’s previous decisions in the Kyiv Administrative Court.
4. We are confident in our position, so we will defend the business reputation of Liberty Finance FC and seek the reinstatement of the revoked licenses through legal proceedings.
Despite the current situation and regulatory pressure, our company guarantees the full and timely fulfillment of its obligations to clients.
All agreements and contracts entered into prior to the publication of the NBU’s decision remain in effect.
FC “Liberty Finance” has sufficient liquidity to ensure financial stability and to make all necessary payments in full.
Our position is consistent, and our next steps will be aimed at protecting the legitimate interests of Liberty Finance FC and our clients.
On February 19, the Board of the National Bank of Ukraine (NBU) decided to classify the state-owned PIN Bank as insolvent. As in the case of Motor Bank, the reason was the failure to comply with the regulator’s written request to submit a revised financial recovery plan, taking into account the comments made after the bank was classified as problematic, according to the NBU website.
The National Bank also emphasized that PIBank is not systemically important (its share in the sector is 0.01% of assets) and was classified as problematic on December 16, 2025, due to a violation of the minimum regulatory capital requirements.
The bank’s regulatory capital on the date of the decision was UAH 73 million, while the National Bank’s minimum requirement was UAH 200 million.
The Deposit Guarantee Fund will reimburse depositors in full, including interest, as of the end of the day before the start of the procedure for withdrawing the bank from the market, except in cases specified by law.
As reported, in February 2023, the High Anti-Corruption Court of Ukraine seized 88.89% of the shares of PIN Bank, which belonged to Russian businessman Yevgeny Giner, in favor of the state.
According to the National Bank, at the beginning of the year, the financial institution ranked 59th (UAH 212.7 million) among 60 banks in Ukraine in terms of total assets, and its loss for 2025 amounted to UAH 63.2 million.
Leaders of the insurance market of Ukraine on collected premiums in January-November 2025 became insurance companies “SG ”TAS“ – UAH 7,047 billion, ”ARKS“ – UAH 5,275 billion, ”INGO“ – UAH 4,642 billion, IC ‘VUSO’ – UAH 4,639 billion, ”Arsenal Insurance” – UAH 4,458 billion.
As evidenced by the data of the project of information exchange “PRIMA” of the National Association of Insurers of Ukraine (NASU), compared to 10M2025 IC ‘Unica’, which occupied the fifth position of the leaders’ rating, has conceded this place to IC “Arsenal Insurance”.
In the market of compulsory insurance of motor civil liability at the end of 11 months, as before, were SG “TAS” – UAH 3,672 billion, “Oranta” – UAH 2,702 billion, “Knyazha VIG” – UAH -2,221 billion, ‘INGO’ – UAH 1,123 billion and “Arsenal Insurance” – UAH 1,095 billion.
Also in the cross-section of the compared periods there were no changes in the market of “Green Card”, where the top five are still “TAS” – UAH 1.150 billion, “USG” – UAH 967.4 million, ‘ROM’ – UAH 863 million, “Knyazha VIG” – UAH 351 million, “VUSO” – UAH 247.9 million.
The CASCO market, as before, is headed by IC “ARKS” – UAH 2.559 billion, “Arsenal Insurance” – UAH 2.469 billion, “VUSO” – UAH 1.202 billion, ‘Unica’ – UAH 1.143 billion and “Universalna” – UAH 1.046 billion.
The leadership in voluntary health insurance is held by the former five: IC Unica – UAH 1,839 billion, followed by IC VUSO – UAH 1,109 billion, IC Universalna – UAH 1,045 billion, IC INGO – UAH 933,4 million and SG TAS – UAH 816,5 million.
In the life insurance market, the first position is still occupied by IC “MetLife” – UAH 2.771 billion, IC ‘TAS’ – UAH 850.9 million, “Grave Life” – UAH 625.2 million, “ROM Life” – UAH 360.1 million, “Unica Life” – UAH 315 million.
As reported, as of December 1, 2025, 48 risk insurers worked in the insurance market of Ukraine, 10 specialized in life insurance, one – with a special status (“Export Credit Agency”, ECA).
The National Bank of Ukraine (NBU) has applied to PJSC IC Respect (Odessa) a penalty measure in the form of a fine totaling UAH 2.880 mln for submitting reports to the regulator in violation of the deadlines.
Such decision was made by the Committee on Supervision and Regulation of Non-banking Financial Services Markets on December 22, 2025, based on the results of a scheduled inspection, which was carried out by the Inspection Department of the National Bank.
Thus, a fine in the amount of UAH 2.4 million was imposed for violation of the requirements of the Rules of compiling and submitting reports by participants of the non-banking financial services market to the National Bank of Ukraine. A fine in the amount of UAH 480 thousand has been imposed for violation of the requirements of the Regulation on authorization of financial service providers and conditions of their activities on provision of financial services.
Private JSC “IC ”Respect” is obliged to pay the fine within a month from the date of entry into force of this decision.
As it was informed, IC Respect has been working in the market of Ukraine since March, 1995. The main portfolio of risks of the company is connected with the transport sector.
In January-September 2025 the company has collected UAH 67,672 mln of net premiums that is 68% more than in the same period of 2024.
The company paid UAH 11.967 mln during the mentioned period, which is 4.3 times more than in the same period a year ago. At the same time, administrative expenses amounted to UAH 313 thousand, which is 2.2 times more than in January-September 2024.
The financial result from operating activity of IC “Respect” for nine months has amounted to UAH 5,538 mln (less in 3,8 times), net profit – UAH 8,601 mln (less in 2,7 times).
According to the data of the NCSSM as of the first quarter of 2025, LLC “AMC ”Yug-Invest“ (Mutual closed non-diversified venture investment fund ‘Industrial’) owned 67,935% of the shares of the insurer, LLC ”Lyubimiy Gorod“ – 9,646%, LLC ”Bereg building service 2017″ – 9,242%.
The National Bank of Ukraine has applied to PJSC “European Insurance Alliance” (Kiev) a measure of influence in the form of a fine of UAH 100 thousand for submitting reports to the regulator with violation of deadlines. Such decision was taken by the Committee for Supervision and Regulation of Non-banking Financial Services Markets on December 15, 2025, based on the results of the on-site supervision of the non-banking financial services market.
The company is obliged to pay the fine within one month from the date of entry into force of this decision.
PJSC “European Insurance Alliance” was founded on September 22, 1994. The Company is a member of the Motor (Transport) Insurance Bureau of Ukraine, the League of Insurance Organizations of Ukraine and the Nuclear Insurance Pool of Ukraine.
The company has a license of the NBU dated April 25, 2024 to carry out insurance activities in 16 classes, in particular property insurance, car insurance, liability insurance, health insurance and the like.
The authorized capital amounts to UAH 55 mln.
The National Bank of Ukraine has withdrawn the license for insurance activities and excluded from the State Register of Financial Institutions ALC Insurance Company “Garant & Ya” (Lviv) on the basis of the submitted application.
As reported, the NBU on July 18, 2025 granted to ALC “IC ”Garant & Ya” permission to exit the market by fulfilling the insurance portfolio and coordinated to this insurer the plan of exit from the market by fulfilling the insurance portfolio.
According to the company’s statements for the nine months of 2025, its insurance portfolio was formed by 100% of CASCO. The volume of insurance premiums of the company in the specified period amounted to UAH 14,312 million, insurance payments – UAH 23,437 million.
“The insurer adhered to solvency requirements. As of October 1, 2025 he has no obligations under insurance and reinsurance contracts,” – is emphasized in the information.
Insurance company “Garant and I” works in the insurance market since 2010. Since July 2011, the head office of the company was located in Lviv.
Authorized capital is UAH 33 mln.
