In 2025, PrivatBank grew twice as fast as the system and plans to maintain this trend in 2026: Larysa Chernyshova at Forbes Banker

Ukrainian banks are entering a new phase of lending: moving from short-term funds to support liquidity to long-term investments in business development, a trend that was noticeable in 2025 and is likely to continue in 2026. Larysa Chernyshova, Deputy Chairman of the Management Board at PrivatBank, stated this at the Forbes Banker forum.

According to her, currently about 40% of new business loan applications at PrivatBank are for investment purposes: modernization of production, equipment purchases, and energy independence projects. In contrast, in 2023, this figure was at 25%. This indicates the business community's readiness for long-term development in Ukraine.

Larysa Chernyshova also noted a significant increase in the pace of business lending, both across the system as a whole and specifically within PrivatBank's operations.

While the banking system grew by 30%, PrivatBank increased its loan portfolio by over 60% last year. According to the Deputy Chairman of the Management Board, the main driver was the corporate segment, where the portfolio grew by 166%. Simultaneously, PrivatBank maintained its position in the mass market segments. Lending to medium-sized businesses increased by 60%, small businesses by 47%, and micro-businesses by 29%.

"Despite the challenges facing Ukrainian businesses and, consequently, the economy, the demand for loans has only strengthened. At the same time, the low level of credit penetration into GDP, at 8.7%, means the market still has potential for growth. Therefore, our ambition for 2026 is to continue last year's trend and once again grow faster than the market," noted Larysa Chernyshova.

Among PrivatBank's priority financing sectors are energy, the defense-industrial complex, value-added production, the agricultural sector, and logistics. Demand for financing energy projects is growing rapidly, and this segment will be one of the key ones in the coming years, particularly due to business requests for operational autonomy.

The gradual change in the economy's structure from commodity-based to domestically-oriented and processing-based also encourages banks to more actively finance production, logistics, and trade.

Along with this, the model of bank financing is changing. In 2026, classic loans are being complemented by more complex instruments—project financing, factoring, and trade finance—which allow working with investment cases and international trade.

At the same time, banks are increasingly using the opportunities provided by international partners: the role of institutions like the EBRD in covering the bank's loan portfolio has grown to 46%, and the total volume of programs allowed for financing businesses by more than UAH 24 billion. This provides access to financing even in a wartime economy.