Ukrainian banks are accelerating lending to both businesses and households.
According to the Financial Stability Report from the National Bank of Ukraine, in April 2025 the volume of loans issued to households and businesses increased by 34% and 29%, respectively, compared to the same period last year.
Loan penetration relative to GDP is also rising. Banks across all groups are ramping up lending to companies of various sizes and industries.
“In the first half of 2025, banking conditions remained favorable. Economic growth continues thanks to steady consumer demand, although it is constrained by a labor shortage,” the NBU report states.
Additional factors holding back the market include:
- labor imbalances;
- limited production capacity due to security risks;
- restrained investment caused by prolonged hostilities.
The share of subsidized loans in total hryvnia business lending has declined to 31%.
Bank losses from operational risk remain high but have decreased compared to the initial years of the full-scale invasion.
