Tigipko’s firms capture nearly half of Ukraine’s debt collection market in 2024

In 2024, collection companies belonging to businessman Serhiy Tigipko’s TAS Group maintained their leadership in Ukraine’s debt collection market, accounting for 41% of the industry’s total revenue, according to estimates by Opendatabot.

According to last year’s results, the 74 collection companies listed in the National Bank of Ukraine (NBU) register generated a combined revenue of UAH 1.01 billion and a net profit of UAH 384.7 million.

The market leader was European Debt Recovery Agency Financial Company (EDA) LLC, part of the TAS financial and industrial group.In 2024, the company reported revenue of UAH 409.2 million and profit of UAH 156.4 million.Together with its related entity EAPB LLC, also listed in the NBU register, Tigipko’s firms accounted for over 40% of total market revenue.

The top three also included:

• Smartfinance (UAH 90.3 million in revenue; owned by Olga Duma and Oleksandr Drozd), and
• Credit Express Ukraine EL.EL.C. (UAH 71.3 million; beneficiary — Swedish investor Jost Lennart Ogren).

Together with its affiliated company Debtfort Ukraine, Ogren’s group reported approximately UAH 93 million in total revenue.

Nine collection companies owned by Vyacheslav Holub — most of which include the word “Delta” in their names — collectively earned UAH 52.8 million.

• In March 2021, Ukraine’s Verkhovna Rada adopted in the second reading Bill No. 4241, aimed at protecting debtors during the settlement of overdue debts.
• In April 2021, President Volodymyr Zelenskyy signed it into law (No. 1349-IX), establishing a legal framework for collection activities and empowering the National Bank of Ukraine to monitor compliance by banks and collection companies with consumer protection rules in financial services.