PROBLEMS AND PROSPECTS OF DEVELOPMENT OF BANKING INSTITUTIONS IN THE FINANCIAL MARKET OF UKRAINE IN THE CONTEXT OF FINANCIAL SECURITY
DOI:
https://doi.org/10.29038/2786-4618-2024-01-88-96Keywords:
banking system, banking institutions, financial market, financial security, banking safety, National Bank of Ukraine, banking innovations.Abstract
The article analyzes the current state of the banking system and banking institutions in Ukraine as the main element of the financial market of Ukraine and highlights the key issues affecting its functioning and strengthening their financial security. It addresses aspects such as regulation, liquidity, credit, innovation, and competitiveness in the context of achieving security goals.
Adaptation to a rapidly changing economic landscape, the integration of cutting-edge technologies, and ensuring stability amidst global financial trends emerge as pivotal tasks for the banking sector. Exploring both the problems and prospects becomes imperative in defining the evolving face of Ukraine's banking system within a highly competitive financial environment.
The main objective is to determine the peculiarities of the development of banking Ukraine during the war, to single out the main problems and to define a system of measures to solve them.
The research reveals the main directions of functioning of the Strategy of the National Bank of Ukraine until 2025. The article examines the causes and consequences of the problems in detail, as well as provides specific recommendations and strategies for overcoming the identified difficulties. In particular, attention is focused on the need to improve legislative regulation, increase the financial stability of banks, develop technological innovations in the banking sector, and strengthen the competitiveness of Ukrainian banks. The article also predicts possible prospects for the development of the banking system of Ukraine in the financial market, taking into account modern trends and challenges.
The full-scale invasion of Russia on the territory of Ukraine became a test for the financial system of Ukraine, including the banking system of Ukraine, but it demonstrates high stability and adaptability. That is why today the identification of problems and prospects for the development of the banking sector is an important task for ensuring the efficient functioning of the economy as a whole and to ensure the financial security of banking institutions.
References
National Bank of Ukraine.(2022). About the operation of the banking system during the introduction of martial law. № 18. Available at: https://zakon.rada.gov.ua/laws/show/v0018500-22#Text. [in Ukrainian].
National Bank of Ukraine.(2023). Strategy of the National Bank of Ukraine. Available at https://bank.gov.ua/ua/about/strategy. [in Ukrainian].
Ministry of Finance of Ukraine. (2023). Number of banks in Ukraine (2008-2023). Available at https://index.minfin.com.ua/ua/banks/stat/count/[in Ukrainian].
National Bank of Ukraine.(2023, november). Overview of the banking sector. Available at https://bank.gov.ua/admin_uploads/article/Banking_Sector_Review_2023-11.pdf?v=6. [in Ukrainian].
Business Censor. (2023, november). Ukrainian banks received record profits: who earned the most. Available at https://biz.censor.net/n3456159[in Ukrainian].
National Bank of Ukraine.(2023). NBU: liquidity surplus in the banking system threatens exchange rate stability. Available at https://finbalance.com.ua/news/nbu-profitsit-likvidnosti-v-bankivskiy-sistemi-zahrozhu-kursoviy-stabilnosti [in Ukrainian].
Mikulyak, K., Kuhlyar, A. (2023). The current state of bank lending in Ukraine. Modern Economics. № 38. 84-89. Available at https://modecon.mnau.edu.ua/the-current-state-of-bank. [in Ukrainian].
Kharlamov, P. (2023, February 6). More than a third of loans in commercial banks are problematic. Who is at risk and what can be done. Available at http://surl.li/gravw [in Ukrainian].
Economic truth. (2023, January 16). Borrowers Stop Paying Debts: How It Will Affect Banks and the Economy. Available at https://www.epravda.com.ua/publications/2023/01/16/695956. [in Ukrainian].
Borysjuk, O., Stashchuk, О., Shmatkovsjka, T. (2020). The role of banking innovation in the financial market in the conditions of the global financial space. Economic journal of Lesya Ukrainka Volyn National University. № 4 (24). 71–79. Available at https://echas.vnu.edu.ua/index.php/echas/article/view/636. [in Ukrainian].
This work is licensed under a 