Ukrainian banks expect further growth in their business and household loan portfolios over the next 12 months, as well as an increase in demand for all types of corporate and retail loans in the third quarter, according to the results of a survey by the National Bank of Ukraine (NBU).
At the same time, these expectations have become more subdued: the balance of responses regarding growth in the business loan portfolio fell to 38.2% from 72.2% in the first quarter of 2026, and for retail loans—to 38.9% from 65.1%.
Banks forecast a slight improvement in the quality of the corporate loan portfolio over the next 12 months: the balance of responses stood at 7.3% compared to 7.1% a quarter earlier. At the same time, for the fourth consecutive quarter, respondents expect the quality of loans to households to deteriorate, although the corresponding balance has become less negative—“minus” 16.3% versus “minus” 17%.
Financial institutions also expect growth in deposits from businesses and households. The balance of responses regarding the expected change in the volume of corporate sector deposits rose to 53.7% from 50.7%, reaching its highest level since the start of the full-scale invasion, while the balance for household deposits rose to 53.8% from 53.3%.
In the second quarter, business demand for loans increased: the overall balance of responses rose to 35.5% from 34.4% in January–March, also reaching its highest level since the start of the full-scale invasion.
Demand for long-term loans saw the sharpest increase—rising to 35.4% from 24.6%. Demand for loans to small and medium-sized enterprises (SMEs) rose to 24.7% from 23.8%, while demand for loans to large enterprises also increased, though at a slower pace than a quarter ago: the balance of responses fell to 26.9% from 34%.
Banks cited the need for capital investments and working capital as the main drivers of the growth in corporate demand. In the third quarter, they expect demand to increase for all types of business loans, particularly long-term ones.
Household demand also rose in the second quarter for both mortgage and consumer loans. According to banks’ estimates, demand for consumer loans has been growing since the second quarter of 2023, and for mortgages—since the beginning of 2025.
In July–September, respondents expect a further increase in household demand for loans, particularly for mortgages. Several large banks cited lower borrowing costs and improved prospects for the real estate market as the main drivers of rising mortgage demand.
Lending standards for the corporate sector remained virtually unchanged in the second quarter: the balance of responses stood at 1.7%, compared with “minus” 2.9% a quarter earlier. Standards for SMEs eased, though to a lesser extent than in January–March: “minus” 3.3% versus “minus” 25.2%.
In the third quarter, banks generally do not plan to change their corporate lending standards but expect them to ease for SME loans.
The approval rate for business loan applications remained largely unchanged in the second quarter: the balance of responses stood at 0% compared to 12.6% a quarter earlier. At the same time, for SMEs, it stood at 13% versus 24.4%, as some banks reported the possibility of providing them with larger loans.
For households, banks eased standards in the second quarter for both mortgages and consumer loans. For mortgages, the net balance of responses fell to “minus” 14.9% from zero, while for consumer loans it stood at “minus” 21.5% compared with “minus” 23.1% a quarter earlier.
Competition among banks remained the main factor behind the easing of consumer lending standards. For mortgages, additional factors included expectations regarding overall economic activity and the outlook for the real estate market.
Banks also expect a further easing of standards for both mortgage and consumer loans in the third quarter.
The approval rate for household loan applications rose in April–June. Banks reported lower interest rates, higher loan amounts, and longer terms for consumer loans, as well as lower mortgage costs and somewhat stricter collateral requirements for mortgages.
Banks assessed the debt burden on businesses in the second quarter as moderate, although assessments regarding SMEs tended toward the low end of the scale. The debt burden on households remained low.
In the second quarter, banks recorded an increase in credit, foreign exchange, and liquidity risks. The balance of responses regarding credit risk rose to 30.3% from 24.9% a quarter ago; for foreign exchange risk, it stood at 14.5% versus 21.3%; for liquidity risk, 8.4% versus 18.8%; while interest rate and operational risks remained largely unchanged.
At the same time, respondents expect currency and credit risks, in particular, to intensify in the third quarter.
The survey was conducted from June 16 to July 8, 2026, among credit managers at 25 banks, which accounted for 96% of the banking system’s total assets.
BANK, BUSINESS, LOAN, NBU, POPULATION
During the first five months of 2026, Ukrainian companies were fined over 7 million UAH for failing to submit or for late submission of transportation data to the Territorial Mobilization and Social Support Centers.
According to OpenDataBot, which cites information from the Ukrainian Armed Forces’ Land Forces Command, 263 penalty orders were issued between January and May. The total amount of fines imposed was 7.057 million UAH.
Of this amount, 6.652 million hryvnias—or 94%—have already been paid voluntarily by the companies or collected by force into the budget.
In total, since 2014, 1,047 Ukrainian companies have received rulings for failing to submit information on their vehicles. Notably, 87% of all sanctions were imposed after the start of the full-scale war.
The rulings are issued against company officials responsible for submitting the information. These may include directors, accountants, or other employees entrusted with these duties.
Companies are required to report twice a year to the TCC and the SP on the availability and technical condition of their vehicles and equipment.
Original source: OpenDataBot – “7 million UAH in fines imposed on businesses this year for failing to submit information on vehicles to the TCC”, published on July 29, 2026.
Jurisprudential Consulting Group, an international consulting group with Ukrainian roots, has announced the launch of a comprehensive European practice to support Ukrainian companies, entrepreneurs, and capital owners during relocation and entry into new markets, the company reported.
The new practice combines international tax planning, corporate structuring, capital legalization and proof of funds’ origin, banking compliance, financial logistics, crypto regulation, as well as legal defense in cross-border economic disputes and criminal cases.
The firm attributes the launch of this practice to the changing needs of Ukrainian businesses following a large-scale relocation. While in the initial phase entrepreneurs primarily needed company registration, a bank account, and immigration status, today the main issues concern the tax residency of owners, the place of effective management, dividend structures, the bank’s acceptance of capital, and the implications of using foreign companies from the country of actual residence.
“For Ukrainian businesses in Europe, it is no longer enough to simply open a company. It is necessary to understand in advance where management is located, where income is generated, how funds will reach the owner’s personal accounts, and what documents the bank will accept. The company, tax residency, family, assets, and future expenses must all be part of a single model,” noted Yaroslav Meretskyi, co-founder and CEO of Jurisprudential Consulting Group.
Photo. From left to right: Heorhii Voinovych, Yaroslav Meretskyi, Vladyslav Kaprytsia, partners at Jurisprudential Consulting Group
The new practice combines international tax planning, corporate structuring, capital legalization and proof of funds’ origin, banking compliance, financial logistics, crypto regulation, as well as legal defense in cross-border economic disputes and criminal cases.
The firm attributes the launch of this practice to changing demands from Ukrainian businesses following a large-scale relocation. While in the initial phase entrepreneurs primarily needed company registration, a bank account, and migration status, today the main issues concern the tax residency of owners, the place of effective management, dividend structures, the bank’s acceptance of capital, and the implications of using foreign companies from the country of actual residence.
“For Ukrainian businesses in Europe, it is no longer enough to simply open a company. You need to understand in advance where management is located, where income is generated, how money will flow into the owner’s personal accounts, and what documents the bank will accept. The company, tax residency, family, assets, and future expenses must all be part of a single model,” noted Yaroslav Meretskyi co-founder and CEO of Jurisprudential Consulting Group.
The Jurisprudential team consists of more than 50 specialists; the company conducts over 3,000 consultations annually and provides regular support to more than 200 clients. Jurisprudential notes that the new format is designed to bring together the work of tax consultants, financial advisors, corporate lawyers, compliance specialists, and attorneys across different jurisdictions around a single client strategy.
The practice is managed by its three co-founders. Yaroslav Meretskyi is responsible for strategic development, international taxation, crypto regulation, relocation, and public affairs. Heorhii Voinovych oversees financial architecture and tax modeling. His professional experience includes serving as CFO for large agricultural holdings, commodity companies, banks, and fintech projects. Vladyslav Kaprytsia is responsible for international corporate and contract law, complex transactions, risk analysis, commercial disputes, and international legal defense.
A separate practice area focuses on economic criminal cases, international fugitive searches, and coordinating defense strategies across multiple countries. The firm works with external legal teams and handles cases involving simultaneous corporate, tax, banking, and criminal law risks, including matters involving national law enforcement agencies, Interpol, and Europol.
“Financial logistics and money laundering are not the same thing. A payment can be made technically, but that does not mean its origin will stand up to scrutiny by a bank or tax authority. The market is flooded with temporary schemes: fictitious loans, formal brokerage agreements, and documents that do not correspond to any actual transaction. Usually, such solutions do not eliminate the problem but merely postpone it for two or three years,” said Meretskyi.
According to him, a loan as an instrument can be legal only if there is a real lender, a verified source of funds, commercial logic, repayment terms, and actual performance of the agreement. If the loan is not repaid, there is a risk that it will be reclassified as income. If it is repaid, legally earned and documented funds will still be required for repayment.
As part of its new practice, Jurisprudential plans to support Ukrainian businesses throughout the entire international expansion process: from selecting a country and a tax model to establishing a holding company, setting up financial infrastructure, preparing proof of capital origin, working with cryptoassets, and providing legal defense in the event of a cross-border dispute.
The company also intends to expand its partner network to include European attorneys, tax consultants, banks, payment institutions, fintech projects, and regulated crypto-asset service providers. Jurisprudential believes that such a network should reduce the number of situations where a client receives separate but conflicting recommendations in different countries.
Jurisprudential was founded in Ukraine in 2011. The group’s international expansion began in 2019, and its European expansion accelerated following the relocation of its Ukrainian operations. Its headquarters are located in Barcelona. According to the company, the group also has offices in London, Warsaw, and Tallinn and works with partners and corporate entities in other jurisdictions across Europe, the United Kingdom, Switzerland, and the UAE.
Jurisprudential Consulting Group is a member of the Association of European Attorneys and has representative offices in EU countries, the United Kingdom, and the UAE.
Background. Jurisprudential Consulting Group is an international legal and financial consulting group with Ukrainian roots. Its main areas of focus include international tax planning, tax residency, corporate structuring, capital legalization, proof of funds’ origin, banking compliance, crypto regulation, business relocation, and international legal protection. Quantitative indicators are based on the company’s internal data.
Jurisprudential Consulting Group is also developing its own educational program focused on international taxation, business relocation, banking compliance, capital structuring, crypto regulation, and doing business in Europe. The company regularly publishes analytical articles, practical case studies, and recommendations on its official website; produces educational content on Instagram and YouTube; and conducts interviews and podcasts with entrepreneurs, tax advisors, lawyers, bankers, and other experts who have successfully established themselves in the European market following relocation. This format allows Ukrainian entrepreneurs to access up-to-date practical information and promptly adapt to changes in European legislation and financial sector requirements. You can find more information on the official website https://www.jurisprudential.eu, on Instagram https://www.instagram.com/jurisprudential.eu, and on YouTube https://www.youtube.com/@jurisprudential.
Kyiv ranked first among Ukraine’s regions in terms of net growth in the number of companies in the first half of 2026, according to Opendatabot, citing data from the Unified State Register.
The number of legal entities in the capital increased by 5,338 thousand over the six-month period. Thus, Kyiv accounted for over 40% of the total net increase in companies in Ukraine, which amounted to 13,195 thousand.
Lviv Oblast took second place with an increase of 1,220 thousand companies, while Dnipropetrovsk Oblast came in third, where the number of legal entities rose by 1,177 thousand.
An increase in the number of companies was recorded in 23 regions of Ukraine, while a decrease was observed in four.
The largest decreases were observed in regions near the front lines. In the Donetsk region, the number of companies decreased by 157, and in the Luhansk region, by 73.
Among the largest companies by revenue that have ceased operations or are in the process of liquidation, “PromoFly” leads the list with revenue of 3 billion UAH for 2025. The company is undergoing bankruptcy proceedings.
Next are “Vasaris-K” and “Volynmet,” each with revenue of 1.8 billion UAH. Both companies are also undergoing bankruptcy proceedings.
The top ten companies in the process of dissolution also include “Power UA,” “Luminovik Group,” “Grovbudgroup,” “Merezha-Service Lviv,” “Intropack Plus,” “Volt Age Plus,” and “Proteya-K.” All of them were in the process of liquidation at the time this study was prepared.
In Ukraine, 19,758 thousand new companies were registered from January through June 2026, an 8% increase compared to the same period last year, according to Opendatabot, citing data from the Unified State Register.
The number of newly established legal entities was the highest in the last three years. In the first half of 2025, 18,277 thousand companies were registered in Ukraine, compared to 18,414 thousand during the corresponding period in 2024.
At the same time, the number of business closures increased. Over the six-month period, 6,563 thousand companies were dissolved or began the dissolution process—a 28% increase compared to January–June 2025.
The net increase in the number of legal entities in the first half of the year was 13,195 thousand companies.
The dissolution statistics include companies with the statuses “Dissolved” and “In the process of dissolution.” However, companies for which the procedure has not yet been completed may subsequently regain their registered status.
The most common reason for dissolution was liquidation—3,479 thousand cases, or more than half of the total. As a result of reorganization, 1,410 thousand companies ceased operations, and 651 companies were dissolved due to bankruptcy proceedings.
Another 574 companies were dissolved based on court decisions unrelated to bankruptcy. In 440 cases, the reason for dissolution was not specified.
The Ukraine-Philippines Business Forum, attended by more than 65 representatives of companies, government agencies, financial institutions, law firms, and business associations from both countries, took place on July 23 in Makati City, Philippines.
The event opened with video messages from Ukrainian Foreign Minister Andriy Sybiga and a speech by Philippine Deputy Minister of Trade and Industry Seferino Rodolfo.
Participants discussed opportunities for developing bilateral cooperation in the agri-food sector, information technology, digital services, the food industry, creative industries, as well as in the defense sector and the field of dual-use technologies.
During the forum, the business environment in Ukraine and the Philippines was presented, along with financial and legal tools for foreign companies, the results of Ukraine’s digital transformation, and the capabilities of Ukraine’s defense-industrial complex.
Representatives from the Makati Business Club, the Nordic Chamber of Commerce of the Philippines, the European Chamber of Commerce of the Philippines, and the Philippine Chamber of Commerce and Industry discussed market access, attracting investment, and developing direct contacts between companies with entrepreneurs. These organizations, together with the Ukrainian Embassy, served as partners for the forum.
The event concluded with bilateral B2B matchmaking sessions, during which Ukrainian and Philippine companies were able to discuss specific projects and areas for further cooperation.
The forum was the centerpiece of the Ukrainian business mission to the Philippines, scheduled for July 23 through August 1, 2026. Its goal is to expand the presence of Ukrainian companies in the Philippine market and in Southeast Asia as a whole.
