Statistical evaluation of the financial companies development in Ukraine

Ivan Zhygalo
PhD in Economics, Senior Lecturer, Department of Management of Organizations, Lviv Polytechnic National University, Ukraine, e-mail: ivan.i.zhyhalo@lpnu.ua, ORCID ID: https://orcid.org/0000-0001-7176-599X

Cite this article:

Zhygalo, I. (2019). Statistical evaluation of the financial companies development in Ukraine. Ed.: M. Zvieriakov (ed.-in-ch.) and others [Statystychne otsiniuvannia rozvytku finansovykh kompanii v Ukraini; za red.: М. I. Zvieriakova (gol. red.) ta in.], Socio-economic research bulletin; Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 2-3 (70-71), pp. 145-156.

Abstract

The article assesses and analyzes the main trends of financial companies development in Ukraine as non-bank financial intermediaries for the period 2012–2018, based on official statistics collected by the National Commission for State Regulation of Financial Services Markets. Attention is focused on the absence of regulatory legal acts, which regulate of the financial companies activity in Ukraine and define those specific characteristics that distinguish them from other non-bank financial institutions. Approaches to the financial companies classification, which presented in scientific sources are systematized. The significant role of financial companies in the financial services market is substantiated by evaluating and comparative analysis of the main performance indicators of non-banking financial institutions listed in the State Register of Financial Institutions of Ukraine, including financial and insurance companies, credit unions, non-government pension funds and pawnshops. For statistical analysis, such indicators of non-banking financial institutions as a number of registered institutions, the volume of their assets and the volume of financial services provided by institutions were selected. Statistical information on the volumes of financial services by types provided by financial companies, which is published by the National Financial Services Commission for the period 2012–2019, is analyzed, namely: lending, housing construction financing, guarantee (surety), factoring and debt management. A comparative statistical analysis of the financial companies activity in the field of financial leasing and legal entities – lessors, which are not financial institutions, but have an ability to provide financial leasing services, determined by laws and regulations. A number of problems that hinder and impede the further development of financial institutions, including financial companies, are identified, and trends in the financial companies development in Ukraine are identified.

Keywords

financial institution; financial company; non-bank financial intermediary; financial service; financial market; leasing; factoring; lending.

JEL classification: E440; G200; O160; DOI: https://doi.org/10.33987/vsed.2-3(70-71).2019.145-156

UD classification: 336.76 (477)

This work is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

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