For the first time, the National Bank of Ukraine published performance indicators of the largest licensed operators of the cash currency exchange market.
Companies operating in this segment of the financial market demonstrate substantial growth and successful business activity. It was informed by Ukrainian News Agency referencing the National Bank data.
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According to the National Financial Regulator data, the market leaders` indicators by the size of assets demonstrate their stable growth.
CHART. The Top 5 largest cash currency exchange financial companies by amount of assets (data provided in UAH million)
"Liberty Finance" financial company, which is part of the "KYT Group", led the industry in terms of assets growth rate. Its assets increased by 211.1% - from UAH 72.1 million in 2022 to UAH 224.3 million in 2023. The leader of the rating by the size of assets, "Ukrainian Financial Group", displayed an increase in assets by 11.8%, increasing them from UAH 428.4 million in 2022 to UAH 479 million in 2023.
Performance indicators and financial results dynamics of these companies testify to their effective management and growth in profitability.
CHART. TOP 5 largest financial companies in cash currency exchange by financial result (data provided in UAH million)
"Alfa-Invest Group" topped the ranking with a financial result amounting to UAH 189.4 million in 2023, demonstrating growth dynamics of 2964.7% compared to 2022. FC "Liberty Finance" of the "KYT Group" reached second place, with a financial result amounting to UAH 153.9 million in 2023.
The indicators of the largest operators in the currency exchange market as to the amount of taxes paid confirm their significant contribution to the state budget. The largest taxpayers in this segment of the financial market are “Alfa-Invest Group” and “Liberty Finance” of the “KYT Group”, which paid UAH 42.3 million and UAH 33.8 million in taxes, respectively.
CHART. TOP 5 largest financial companies in cash currency exchange by income tax payment (data provided in UAH million)
"To recall, the National Bank of Ukraine has been reforming the cash currency exchange sector for the past few years, simultaneously cleansing it from "gray" and shadow operators. Thanks to this policy of the financial regulator and law enforcement agencies, larger volumes of currency exchange transactions are transferred to the legitimate segment of licensed financial companies, which positively affects their development and indicators growth," informs Ukrainian News Agency.
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