The National Bank of Ukraine has imposed fines on eight pawnshops, three lessors, and four financial companies for late submission of reports to the regulator for the fourth quarter of 2022 and the first quarter of 2023.
According to the regulator’s announcement on its website on Wednesday, in particular, Orion-T Lombard Bezborodov & Menaker PA (USREOU 19314356), Credit Center Lombard Tomchuk & Company, Oscar Lombard (Oscar Dry Cleaning, Gluttony Fast Food), UMKV & Company Lombard, 9999 Lombard, and Lombard. Sirenka Y. S. and Company, Lombard Parus LLC, Global Franchising LLC and Company, Lombard Kopiyka LLC, Ukr.Concept-Car LLC and PE ID, and Lombard Shvydka Dopomoga Linichenko and Company.
Among the leasing companies, fines were imposed on Advance Leasing LLC, AVG Leasing and City Leasing.
Finally, among the financial companies that fell under the National Bank’s influence were Wellfin LLC, Money 247, Cardservice and Credo Solutions.
The NBU clarified that the decision to impose enforcement measures was made based on the results of on-site supervision of the non-banking financial services market on August 2, and they will come into force on August 3. Financial service providers have to pay the fines, the amount of which is not specified, within seven business days from the date of receipt of the relevant decision of the regulator.
The National Bank of Ukraine (NBU) on July 11 revoked the license of PJSC Insurance Company Kyivska Rus (Kyiv) to provide financial services, according to the regulator’s website.
The reason for this decision was the failure to submit reports for 2022, failure to submit information and documents at the request of the National Bank and the company’s failure to eliminate the identified violations in the time specified by the regulator (June 8, 2023).
According to the last submitted to the NBU statements of PJSC IC Kyivska Rus for nine months of 2022, the amount of insurance payments amounted to UAH 85,4 mln, of which UAH 76,9 mln was transferred to reinsurance. The insurer has not made any payments during the specified period.
As it was informed, on May 8, 2023 the NBU has applied to IC “Kyivska Rus” a measure of influence in the form of temporary suspension of licenses in connection with non-submission of reports for the first half of 2022 and for 2022, as well as actuarial report for 2022.
The company also did not submit the report on corporate governance and information on key risks and results of stress testing for 2022, did not provide information and documents at the request of the NBU.
Private JSC IC Kyivska Rus carries out activities on voluntary and compulsory types of insurance other than life insurance.
Net sales of dollars by the National Bank of Ukraine (NBU) in the first week of July totaled $471.9 million, compared to $520.4 million in the last week of June.
According to the NBU on its website, from July 3 to 7, 2023, its purchase of currency decreased from $12.6 million to $6.7 million, while the sale went from $533.0 million to $478.5 million.
On the cash market, the dollar depreciated by about 5 kopecks during the week. – Up to UAH 37.20 per $1.
Since the beginning of the year, the NBU bought $184.6 mln at the market, while it sold $12.934.4 mln.
As we reported, the volume of interventions of the National Bank in June decreased to $1.80 billion from $1.93 billion in May.
However, due to significant inflows of external financing, international reserves grew by 4.5% in June to $39.00bn.
Net sales of dollars by the National Bank of Ukraine (NBU) this week totaled $520.4 million compared to $427.5 million last week.
According to the NBU on its website, from June 26 to June 30, 2023, its purchases of currency increased from $8.3 million to $12.6 million, while sales increased from $435.8 million to $533.0 million.
On the cash market, the dollar rose by only about 3 kopecks during the week. – UAH/$1 to UAH 37.25.
Since the beginning of the year, the NBU bought $177.9 mln at the market, while it sold $12 bln 455.9 mln.
As it was reported, the volume of interventions of the National Bank in May increased to $1.93 billion, compared to $1.37 billion in February and $1.67 billion in March.
However, due to a significant influx of external financing, international reserves rose by 4%, or $1.358 billion – to $37 billion 311.3 million in May.
For June, interventions amounted to about $1.9 billion, which is again noticeably less than Ukraine’s external financing, which amounted to about $3 billion.
On May 5, the National Bank of Ukraine (NBU) has cancelled the licenses of Universal Policy Insurance Company (Kyiv) due to repeated violations of license conditions during the year.
According to the regulator’s website, the company fails to comply with mandatory financial ratios (solvency and capital adequacy ratio and risk operations ratio).
Earlier it was reported that “IC “Universalniy Polis” was subjected to a temporary suspension of the license on November 11, 2022.
The NBU notes that according to accounts for 2022, the amount of insurance premiums collected by the company was UAH 72 million (90% of them – from reinsurers), insurance payments – UAH 36 million. The market share of the company according to the results of 2022 is 0,2%.
According to reports for the first quarter of 2023, “IC “Universal polis” has not received insurance premiums.
IC “Universal polis”, registered in 2001, specializes in providing services in the field of risk insurance.
Net sales of dollars by the National Bank of Ukraine (NBU) jumped to $560.1m this week from $242.9m a week earlier, the highest in eight weeks.
According to the NBU website, from April 17 to April 21, 2023, the purchase of foreign currency was again absent.
On the cash market the dollar went up during the week by 0.35 UAH – to about 38.15 UAH/$1.
Market participants connect the change of tendency to the concerns, caused by temporary ban on import of Ukrainian agro-products to Poland, Hungary and Slovakia, and also unstable operation of grain corridor, which questions its prolongation after May 18.
Since the beginning of the year, the NBU bought $62.3 million at the market, while it sold $8 billion 172.7 million.
As reported, the volume of interventions of the National Bank in March decreased to $1.67 billion from $2.43 billion in February and $3.08 billion and $3.16 billion in January and December.
Due to significant inflows of external financing, international reserves of Ukraine in March increased by 10%, or $3 billion – to $31.88 billion.
