In the first quarter of 2026, private and foreign banks demonstrated the highest growth rates in business lending in Ukraine. During January-March, these financial institutions significantly increased the volume of loans issued, primarily for long-term purposes, which positively impacted the development of key sectors of the economy.
This is reported by Finway
Lending Dynamics and Market Leaders
According to data from the National Bank, private banks increased their corporate lending volumes by 10.6% for the quarter, amounting to 30.7% year-on-year. Foreign banks also showed significant growth — 6.8% for the quarter and 37.9% compared to the same period last year. State banks demonstrated more moderate growth, which amounted to 3.7% for the quarter and 28.2% in annual terms.
“Throughout the first quarter, banks of all groups actively lent to businesses. The largest and fastest growth was shown by private and foreign banks – 10.6% (+30.7% year-on-year) and 6.8% (+37.9% year-on-year) respectively,” the report states.
Lending Conditions and Sector Structure
In January-March 2026, banks were more active in lending to businesses in trade, machine engineering (including the defense industry), and construction. In absolute terms, the leaders in financing were companies operating in trade, food industry, and agriculture.
An important factor was the trend towards decreasing interest rates. The average interest rate on hryvnia loans for businesses decreased to 15.1% per annum; at the same time, foreign banks offered the lowest rates — an average of 13.3% per annum. Such conditions contributed to the growth in demand for financing among enterprises in various sectors.
The regulator also notes that overall in Ukraine, there remains a high dynamic of lending to both businesses and individuals. Net hryvnia loans for enterprises and non-bank financial institutions in solvent banks in March 2026 increased by 32% compared to March 2025, while for individuals — by 36%.