In Ukraine, the fastest growth in business lending in January–March 2026 was recorded by private and foreign-owned banks. By loan maturity, the strongest increase was seen in loans with terms longer than three years, while by sector the leaders were trade, mechanical engineering (primarily the defense industry), and construction.
The National Bank of Ukraine reported, citing its Banking Sector Review for the first quarter of this year.
“During the first quarter, banks from all groups actively expanded business lending. The largest and fastest growth was demonstrated by private and foreign-owned banks — 10.6% (+30.7% year-on-year) and 6.8% (+37.9% year-on-year), respectively,” the report states.
Growth in lending by state-owned banks during the first quarter was somewhat more moderate at 3.7% (+28.2% year-on-year).
According to the regulator, hryvnia lending rates for businesses declined to 15.1% annually, with foreign-owned banks continuing to offer the lowest average rate at 13.3% per year.
The NBU noted that lending grew most actively in January–March in trade, mechanical engineering — primarily the defense sector — and construction. At the same time, in absolute terms, the largest volumes of financing went to companies in trade, the food industry, and agriculture.
