FEATURES OF THE FUNCTIONING OF THE BANKING SERVICES MARKET OF UKRAINE
Abstract
The article examines the main features of the banking services market of Ukraine. The analysis of literary sources showed that the subject of the functioning of the banking system in general and the specifics of the provision of banking services in particular can be traced in the works of many Ukrainian researchers. A significant part of the authors focused their attention on today's popular topic - security, in particular the issue of financial security of the banking sector. There are a number of works devoted to the digitalization of the banking sector of Ukraine. A separate "block" of research can be considered works, the subject of which is the development of the banking sector of Ukraine during the war. The change in the number of branches of commercial banks of Ukraine during the first half of 2024 was analyzed, based on this, a conclusion was made about the decrease in the number of bank branches in Ukraine. Thus, in July there were 53 less branches of commercial banks than at the beginning of 2024. The structure of the country's banking services market is also presented, it is revealed that two commercial banks actually control half of the banking services market (26% belongs to Oschadbank and 25% of the market belongs to Privatbank). The article presented problematic aspects of the functioning of the banking services market in Ukraine. The main problems of the functioning of the Ukrainian banking services market are the high risk of non-repayment of loans, difficult access to banking services in remote regions, low level of public trust in the banking system, risk of currency fluctuations, threats of cyber attacks, instability of the monetary unit and, of course, problems related to military actions. Prospective directions for the development of the banking services market of Ukraine were outlined, in particular, the use of digitalization achievements, improvement of crediting and risk management mechanisms, deepening of cooperation with international financial institutions, increasing the stability and reliability of the banking system, strengthening public confidence, expanding the spectrum of financial instruments, increasing the stability of the monetary unit, increasing the level of competition. In order to attract more customers, in particular in the context of deposits and other banking services, an effective state policy is needed to increase the financial literacy of the population, the stability of the hryvnia, and guaranteeing the safety of deposits.
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