Banking and Insurance

The banking system of Ukraine plays an important part in the country’s economic life by helping overcome the consequences of the global financial and economic crisis. As of today, about 180 banks function in Ukraine and circa 30% of them are banking institutions with foreign capital. As of the beginning of 2010, the regulatory capital of the banking system amounted to UAH 135.80 billion (about USD 17 billion) and the value of the capital employed reached UAH 880.30 billion (ca. USD 110 billion).

Today, one of the major tasks of the banking sector is the liquidity support which is achieved inter alia by means of freeing the means from working assets. The crediting activity of banks remains rather low, and new loans and credits are provided mostly for refinancing the current indebtedness of companies and private borrowers.

Another imports task that faces the Ukrainian banks is the reduction of indebtedness of private borrowers and legal entities on overdue loans, which at the beginning of 2010 only with regard to legal entities amounted to UAH 475 billion (about USD 60 billion).

The market of insurance services remains the most capitalized among the other non-banking financial markets. As of the beginning of 2010, there were 441 insurance companies in Ukraine; during 2010 they have stabilized and to some extent increased the volume of the services provided.

In particular, the total value of assets of insurance companies increased to UAH 43.16 billion (almost USD 5.5 billion) and the value of the paid in charter capital increased to UAH 14.56 billion (USD 1.8 billion).

Lawyers of "Werner Law Firm" deeply understand the problems and current tasks that face banks and insurance companies working at the Ukrainian market of financial services.

We offer our customers the following legal services in the sphere of banking and insurance:

  • the working out of the package of contracts and agreements used by banks and insurance companies in the course of their economic activity (insurance rules and contracts, loan agreements, labour agreements (including collective bargaining agreements) etc.;
  • legal support in relation to obtaining licenses for performing the respective types of economic activity;
  • advising on complex issues of taxation of certain types of banking and insurance transactions;
  • performing claims work on collecting bad indebtedness;
  • representing the interests of banks and insurance companies in disputes with tax authorities and other controlling state authorities;
  • structuring transactions of acquiring assets and corporate rights, performing Due Diligence when conducting M/A transactions.