NBU revokes two licenses of credit union

NBU revokes two licenses of credit union

The National Bank of Ukraine (NBU) has revoked two licenses of Credit Union “Shans-Plus” on the basis of its own application, Ukrinform reports with reference to the central bank’s press service.

"This decision was approved by the Committee for Supervision and Regulation of Nonbank Financial Services Market on July 14, 2021. Thus, two credit union’s licenses on providing financial services were revoked: namely, on providing funds for lending, including on the terms of financial credit, and also on attracting financial assets with the obligation to return them later,” reads the report.

The National Bank notes that as of April 1, 2021, the liabilities of the credit union amounted to UAH 1.2 million (0.09% of the total market), and its assets - UAH 2.4 million (0.1% of the total market).

As reported, on July 1, 2020, the National Bank became the regulator of nonbank financial services market.


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