This comprehensive report encompasses state-chartered banks, lenders, and securities firms operating within Kentucky in 2022.
The Kentucky Department of Financial Institutions has recently published its highly anticipated 2022 annual report, shedding light on the state’s financial industry’s status during the past year
Furthermore, the report emphasizes the Kentucky Department of Financial Institutions‘ unwavering dedication to serving the citizens of the Commonwealth and safeguarding their financial interests by ensuring a stable and secure financial industry.
The year 2022 witnessed substantial growth and transformation within the financial sector, and the Kentucky Department of Financial Institutions played a pivotal role in navigating these changes. Acting Commissioner Justin Burse, in a letter addressed to the governor, highlighted significant shifts, including record-breaking interest rate increases, spikes in commodity prices, and the lingering impacts of the COVID-19 pandemic.
Burse attributed the successful navigation of these challenges to the remarkable efforts of the Kentucky Department of Financial Institutions’ formidable team
Burse emphasized the dedication to proactively addressing these challenges and preserving the trust bestowed upon them by the people of Kentucky. The unveiling of the 2022 annual report exemplifies the Kentucky Department of Financial Institutions’ unwavering pledge to maintain openness and responsibility in their regulatory duties. The department stands ready to fulfill its crucial responsibility of safeguarding the financial welfare of Kentucky’s inhabitants.