Banks in Ukraine in September 2025 issued 851 mortgage loans worth UAH 1.62 billion, which is 13.1% more than in August, when 789 loans worth UAH 1.43 billion were issued, according to the results of the monthly survey of the National Bank of Ukraine (NBU).
“The quality of the mortgage portfolio remains high: the share of non-performing loans is kept at 12%,” the National Bank commented on the results.
According to the central bank, compared to September 2024, the volume of loans issued increased by 35.4%.
As specified by the NBU, among the 39 banks surveyed, together forming more than 95% of the gross mortgage portfolio, in September new loans were issued by 14 financial institutions.
Most transactions were concluded in the primary housing market: 532 in September for the amount of UAH 1 billion against 480 in August for the amount of UAH 0.89 billion.
In the secondary housing market, 319 transactions were concluded for UAH 0.62 billion, while in August – 309 transactions totaling UAH 0.54 billion.
The weighted average effective rate in the primary market in September remained at the level of 8.13% per annum, while in the secondary market it increased to 9.37% from 8.99% in August.
The survey data show that the most loans in September were issued in Kyiv and Kyiv region – 458 for UAH 949 mln (58.6% of the total volume). Next come Lviv region – 46 for UAH 95 million, Ivano-Frankivsk region – 53 loans for UAH 90 million and Volyn region – 35 for UAH 61 million.
As reported, the National Bank on July 18 this year released a strategy for the development of mortgage lending. The document prioritizes risk reduction through the launch of mass insurance of war risks and updating the rules in the field of housing construction.
The strategy also provides for easier access to mortgages through modernization of state support mechanisms and increased transparency of information in accordance with EU requirements, as well as strengthening the protection of creditors’ rights by updating procedures for dealing with bad debts.
The European Bank for Reconstruction and Development (EBRD) will provide a risk-sharing guarantee without pre-financing to the state-owned Ukreximbank in order to expand financing and provide new loans to Ukrainian businesses in the amount of EUR100 million.
As stated on the EBRD website, whose board of directors approved the relevant project on September 9, it will cover up to 50% of the credit risk.
According to the published information, the guarantee will be provided in two equal tranches, with the second tranche currently without obligations.
It is noted that up to EUR 20 million of sub-loans with risk sharing will be directed to finance long-term investments by SMEs under the EU4Business-EBRD Credit Line with incentives, which will allow financing long-term capital investments by SMEs to upgrade their technologies and equipment to EU standards, including investments in sustainable and green technologies (at least 70% of the sub-limit).
Eligible sub-borrowers will also receive EU-funded technical assistance and grant support in the form of investment incentives upon completion of their investment projects.
Ukreximbank is the third largest bank in Ukraine in terms of total assets as of mid-year – UAH 318.6 billion (8.3% of the system’s total assets).
The European Bank for Reconstruction and Development (EBRD) is providing a risk-sharing guarantee without upfront financing to Raiffeisen Bank to expand financing and provide new loans to Ukrainian businesses in the amount of EUR200 million. The relevant agreement was signed in London on September 9.
“The EBRD instrument will cover up to 50% of Raiffeisen Bank’s credit risk under new financing agreements for businesses operating in Ukraine. Under this mechanism, the bank will provide sub-loans to companies operating in critical sectors of the economy, such as agriculture, industrial production, pharmaceuticals, transport, and logistics,” the Ukrainian bank said in a press release on Wednesday.
According to the press release, this is already the fourth such risk-sharing agreement concluded by the EBRD with Raiffeisen Bank.
It is noted that 20% of the sub-loans covered by the EBRD guarantee will be provided to MSMEs for long-term investments in EU-compliant technologies and green technologies, strengthening the competitiveness of such enterprises in domestic and foreign markets.
Sub-borrowers who meet the conditions will also be able to receive EU-funded technical support and investment incentives, such as grants to complete their investment projects, under the EU4Business initiative. Larger incentives will be provided to businesses and households most affected by the war (e.g., those whose assets have been destroyed, damaged, or relocated), as well as to sub-borrowers that promote the reintegration of war veterans, people with special needs, internally displaced persons, and/or enterprises located in areas most severely affected by the war.
The EBRD guarantee will be supported by partial coverage of first-loss risk received from France and the EU under the Ukraine Investment Framework.
Since the start of the full-scale Russian-Ukrainian war, the EBRD has enabled more than EUR 3 billion in financing to Ukrainian borrowers through 37 similar instruments in partnership with 12 financial institutions.
Raiffeisen Bank is the largest privately owned bank in Ukraine and the fourth largest overall, with total assets of UAH 252.23 billion (6.5% of the system’s total assets) as of mid-year.
Raiffeisen Bank was founded in 1992. According to the financial institution, 68.21% of its shares are owned by Raiffeisen Bank International AG (RBI), 30% by the EBRD, and the remaining 1.79% by minority shareholders.
OTP Bank forecasts significant growth in renewable energy lending next year, said Alla Biniashvili, a member of the bank’s board.
“What do we think will be the driver? Definitely renewable energy. It is already emerging, mostly in state-owned banks, but all other banks are also prioritizing the financing of energy security and renewable energy. And we expect a significant increase in its share in our portfolio next year, as well as in the portfolios of other banks,” she said at the Global Outlook: Strategic Momentum conference organized by the European Business Association (EBA) in Kyiv on Friday.
As Biniashvili noted, the banking sector is currently characterized by high liquidity, but companies also hold significant balances in their accounts due to uncertainty and lack of investment.
According to her, the main sectors for lending currently remain agriculture, food industry, trade, and defense. She noted that banks compete with each other for customers in these industries, lowering rates and offering new terms.
Binashvili named the geopolitical situation, import needs for energy security, lower harvests, and staff shortages as key risks for the banking sector. At the same time, she said that against the backdrop of international guarantees and risk-sharing programs, banks will be able to ensure about 30% growth in lending in 2026.
The international financial service NovaPay (TM NovaPay) will issue a series of “L” bonds with a total nominal value of UAH 100 million, which will be the 12th such series in the overall bond issuance program.
As noted in the SMIDA information disclosure system, the issuer is again a subsidiary of NovaPay, NovaPay Credit LLC, and the decision was approved by the general meeting of participants on July 16.
According to the announcement, the bonds are planned to be placed among an unspecified group of persons through a public offering, without the involvement of an underwriter, with a nominal value of UAH 1,000.
The company notes that there are currently 10 series of bonds in circulation – from “A” to ‘J’, each with a total nominal value of UAH 100 million, with the exception of series “I”, whose total nominal value is UAH 90 million. It is stated that the total nominal value of NovaPay Credit LLC securities in circulation at the time of the decision is 506.7% of the company’s authorized capital.
The funds raised are planned to be used for lending operations to individuals and legal entities – 80% and 20%, respectively.
NovaPay was founded in 2001 as an international financial service provider, part of the Nova Group (“Nova Poshta”), providing online and offline financial services at Nova Poshta branches. According to the website, the company employs about 13,000 people in more than 3,600 Nova Poshta branches throughout Ukraine. According to the National Bank of Ukraine, the company accounts for about 35% of the total volume of domestic money transfers.
NovaPay was the first non-bank financial institution in Ukraine to receive an extended license from the NBU in 2023, which allowed it to open accounts and issue cards, and was also the first non-bank to launch its own financial app with a wide range of financial services at the end of last year.
As reported, in 2023, NovaPay made three public issues of interest-bearing bonds of series “A”, “B” and “C”, and last year issued six more series of bonds – “D”, “E”, “F”, “G”, ‘H’ and “I”, and this year, another series “J,” all for UAH 100 million. Also this year, a decision was made to issue bonds of series “K” for UAH 100 million. Securities of all series, except for ‘B’ and “I,” are used for the REPO program as an alternative to bank deposits, They are available for purchase in the NovaPay mobile app, while bonds of series “B” and “I” are offered for sale to institutional clients, with interest income paid quarterly.
According to the prospectuses, the bonds of the last four series were issued for three years. The nominal interest rate on them is 17% per annum, while for the previous three it was 18%.
According to the prospectus, NovaPay Credit plans to increase its interest income to UAH 802.1 million this year and to UAH 1 billion 515.1 million next year, and to receive UAH 518.9 million and UAH 1 billion 30.6 million in net profit, respectively.
Last year, the company’s net profit grew to UAH 89.2 million from UAH 40.3 million a year earlier, with revenue increasing to UAH 285.6 million from UAH 95.6 million.
International agricultural research company Corteva Agriscience and state-owned Oschadbank (Kyiv) are expanding their partnership lending program to Ukrainian agricultural producers to enable them to purchase the company’s crop protection products on favorable terms, the company’s press service said.
According to the press release, under the terms of this lending program, farmers can purchase sunflower, corn and winter rape seeds of premium genetics of the Pioneer® brand at reduced rates.
Farmers wishing to purchase Corteva plant protection products in the amount of UAH 200 thousand or more can take out a loan with an interest rate of 0.01% per annum in UAH, depending on the repayment schedule, loan term and availability of collateral. There is no loan disbursement fee. The maximum loan term is 12 months. To apply, farmers should contact Corteva representatives in their region.
Borrowers under this program will provide Oschadbank with a simplified list of documents and can expect priority consideration of their application, as well as a shorter time for making a loan decision.
“Launched in February, Corteva’s program of lending at reduced rates for the purchase of Pioneer seeds in partnership with Oschadbank was well received by farmers, so we are pleased to welcome the willingness of our partners to expand the program to give farmers better access to Corteva’s advanced crop protection products,” explained Elena Dunina, Financial Head of Corteva Agriculture in Ukraine, Central Asia and the Caucasus.
“The agricultural sector suffered significant losses during the war. The State Bank considers it its mission to support agrarians and provide them with the most extensive package of opportunities. (…) Thanks to the simple and flexible terms of the Corteva partnership program, agricultural producers can get a loan at reduced rates, replenish working capital and optimize costs,” said Natalia Butkova-Vitvitska, Oschadbank Board Member in charge of micro, small and medium-sized businesses.
Corteva Agriculture is a global agricultural company. It offers comprehensive solutions to maximize yields and profitability. It has more than 150 research facilities and more than 65 active ingredients in its portfolio.
The company’s presence in Ukraine includes the headquarters in Kyiv, a research center in Liubartsi village (Kyiv region) and a seed production complex in Stasi village (Poltava region).
In April 2022, the company decided to leave the Russian market due to the full-scale war against Ukraine waged by Russia.
According to the National Bank of Ukraine (NBU), as of February 1 this year, Oschadbank ranked second in terms of total assets (UAH 369.56 billion) among 63 banks operating in the country.
agricultural producer, CORTEVA AGRISCIENCE, LENDING, OSCHADBANK
