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Demand for loans shows no sign of slowing down: the business portfolio has grown by a third

Stanislav Sereda
Stanislav Sereda Journalist
Demand for loans shows no sign of slowing down: the business portfolio has grown by a third
The NBU reports strong lending growth and an increase in account balances
Lending to businesses and households in Ukraine continues to grow at a rapid pace despite the war and the difficult economic situation.

This is evidenced by the National Bank’s operational data on the banking sector’s performance.

In May 2026, the volume of net hryvnia-denominated business loans increased by 30% year-on-year, whilst loans to households rose by 36%.

The NBU emphasises that to accurately assess lending activity, it is necessary to analyse the net loan portfolio. Gross figures remain influenced by the large-scale write-off of non-performing loans by state-owned banks at the end of 2025.

“The gross figure decreased due to the write-off in December 2025 by state-owned banks of old non-performing loans amounting to over UAH 170 billion (this effect will continue to influence lending statistics throughout the year), however, banks did not reduce their lending activity,” the National Bank notes.

At the same time, banks are recording steady growth in customer funds in accounts. In May, the volume of household hryvnia deposits rose by 19% year-on-year, and business funds by 17%.

The National Bank notes that the preliminary statistics may be revised following the submission of banks’ quarterly and annual reports.

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