Ukrainian pawnshops have increased their incomes

Украинские ломбарды увеличили свои доходы

The financial services Commission announced the outcome of the Lombards for the first quarter of 2019. In the State register of financial institutions was 351 6113 pawnshop and separate subdivisions of the Lombards. It is reported FinPost.

On a regional basis the largest number of registered pawnshops in the following areas:

  • In Kiev and Kiev region – 89 (25,4%);
  • Dnipropetrovsk region – 52 (14.8 per cent);
  • Donetsk region – 40 (11,4%);
  • Kharkiv region – 29 (8.3 per cent).

Own capital of pawn shops have a tendency to increase, and assets of pawnshops fluctuate. Authorized and reserve capital of pawnshops decreased by 1.8% and 14.7% compared to the same date in 2018, respectively, and totaled UAH 1.4 bn and UAH 54.6 million. Retained earnings of pawnshops made up 644,1 million UAH and increased by 23,3% (121,9 million UAH).

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In the last three years have seen the growth in the overall lending market collateral services. The percentage of repaid loans through collateral is in the range of 10-14%.

The primary means of ensuring the obligation to provide a pawnshop financial loans is the security of property. Weighted average annual interest rate on the financial loans, pawnshops were of 207.6%, which is 36.1% higher than a year earlier (171,5%).

The majority of loans is granted on the security of products from precious metals and stones, which is the most liquid assets.

The average financial loan secured in the first quarter of 2019 amounted to UAH 1516,9.

Statistics indicate a slight decrease in the overall amount of attracted funds of pawn shops (0.7%) compared to the corresponding period in 2018 (up to 174,2 million UAH).

The main source of raising funds for the pawnshops are legal entities (except banks). Thus, the volume of funds attracted from legal entities (except for banks) compared with the corresponding period last year increased by 17.9% (up to UAH 120 million). This will reduce the share of funds attracted from banks – from 34.9% to 24.9%. The proportion of funds attracted from individuals decreased by 7.9% (to 10.9 million UAH).

Украинские ломбарды увеличили свои доходы