The state-owned Oschadbank has signed a series of loan agreements with companies belonging to the Kernel Group for a total amount of $77 million, which, according to the bank, is the largest amount of lending to private businesses among Ukrainian banks in 2025.
“The development of Ukraine’s agricultural export potential is an important aspect of strengthening the state’s economy. This is the main focus of Kernel’s business and one of Oschadbank’s priorities,” said Yuriy Katsion, deputy chairman of Oschadbank’s board responsible for corporate business, on Facebook.
According to a press release from the bank, almost half of the lending volume may be directed toward investment needs: these are non-revolving credit lines of $36.7 million with a term of seven years.
It is noted that the funds may also be used to upgrade the fleet of agricultural machinery and equipment to ensure uninterrupted cultivation of agricultural land, as well as to finance and refinance capital expenditures related to the reconstruction of the Transbalkterminal grain terminal (Chornomorsk), which was damaged as a result of a Russian missile attack in 2023.
Another feature of the agreement is the borrower’s right to draw down the entire credit limit of $77 million during the term of the agreement to replenish working capital, provided that the limits provided for investment lending are reduced, the bank said.
It is specified that the replenishment of working capital may be carried out by the group’s companies, in particular, for the purchase of grain, fertilizers, plant protection products, fuels and lubricants, other goods, works, and services.
Before the war, Kernel was the world’s leading producer of sunflower oil (about 7% of global production) and its exporter (about 12%). It is one of the largest producers and sellers of bottled oil in Ukraine. In addition, it is engaged in the cultivation and sale of agricultural products.
In fiscal year 2025 (FY, July 2024 – June 2025), Kernel earned $238 million in net profit, which is 42% more than in FY 2024. Kernel’s consolidated revenue in FY2025 reached $4.115 billion, an increase of 15% compared to the previous fiscal year.
The company’s debt obligations at the end of September amounted to $726 million, including bank credit lines of $104.5 million, compared to $146.7 million at the beginning of the year.
As reported, in October 2025, Oschadbank’s corporate segment loan portfolio grew by 2.6%, or UAH 26.9 billion, to UAH 970.1 billion. Hryvnia loans to businesses added 1.7%, or UAH 11.5 billion, reaching UAH 689.7 billion, while foreign currency loans increased by 4.2%, or $267 million, to $6.68 billion.
According to the NBU, at the beginning of November this year, Oschadbank, with total assets of UAH 456.23 billion, ranked second among 60 banks in terms of this indicator.
