Analysis of non-bank financial institutions activity as participants of modern financial services market

Abstract

Banking system, that is, the National Bank of Ukraine, other banks and branches of foreign banks operating in the country, is the basis of the Ukrainian credit system. However, non-bank financial and credit institutions play an important role in the financial services market. Today they provide quite a wide range of services and thus become serious competitors for banks. Therefore, the study of the peculiarities of the activities of non-bank financial and credit institutions and their role in the economic growth of the state is an urgent problem for investigation. The article assesses the activities of the main non-bank financial institutions. The main indicators of the effectiveness of non-banking financial institutions in the context of the main segments of the modern financial services market are analysed. The problems that impede the development of the insurance services market, the non-state pension insurance market and the Lombard loan market are identified. It is concluded that it is an urgent necessary to solve the system problems in the financial services market in order to ensure its effective and stable operation in the future.