In October 2025, Oschadbank increased its portfolio of loans to legal entities by UAH 4.2 billion, which, according to its data, is the largest increase among Ukrainian banks, according to a release on the financial institution’s website.
Oschadbank noted that the total volume of its loan portfolio to legal entities as of October 1 this year amounted to UAH 99 billion, of which UAH 30 billion were loans to micro, small, and medium-sized businesses, with the remainder going to corporate businesses.
As noted in the release with reference to the National Bank’s data, Oschadbank’s net portfolio at the beginning of October accounted for 13.6% of the corporate lending market, securing its leading position.
“During the full-scale invasion, Oschadbank has been directing its free liquidity to support the real sector of the economy, and during this period, the corporate business loan portfolio has grown more than one and a half times, or by UAH 23.5 billion, with this segment accounting for 70% of the corporate portfolio,” said Yuriy Katsion, deputy chairman of the bank’s board, who is responsible for this area, in a press release.
As reported, in October 2025, the corporate segment’s 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 October this year, Oschadbank, with total assets of UAH 485.69 billion (12.3% of the total), was second among 60 banks in terms of this indicator.
The European Bank for Reconstruction and Development (EBRD) is providing a risk-sharing guarantee without financing in the amount of UAH150 million (EUR3.1 million) to cover half of the loan issued by Ukrsibbank to retailer EVA for the development of its logistics hubs, the company’s press service reported.
“This agreement is an important milestone for EVA and our first experience of cooperation with the European Bank for Reconstruction and Development. We underwent a thorough analysis by the EBRD, which confirmed EVA’s financial stability, the compliance of our activities with the criteria of Ukrsibbank and the EBRD for borrowers, and the recognition of our company as a reliable partner capable of developing its business even in wartime,” said Lilia Volenko, CFO of Rush LLC (EVA and eva.ua network), in a press release.
It is noted that this agreement was the first time the bank used the EBRD’s risk-sharing program (individual investment loan guarantee) to provide an investment loan to a corporate client. Previously, risk sharing rules allowed the bank to share risks only for working capital financing transactions.
According to Volenko, this agreement is a signal to the market about the possibility of attracting long-term financing with the support of international institutions in wartime.
Rush LLC, which manages the EVA chain, was founded in 2002. The chain has over 1,100 stores.
According to YouControl, the owner of Rush LLC is listed as Cyprus-based Incetera Holdings Limited (100%), with Ruslan Shostak and Valery Kiptik as the ultimate beneficiaries.
At the end of the third quarter of 2025, Rush’s net income increased by 18.6% compared to the same period last year, reaching UAH 22.9 billion. Net profit decreased by 14.7% to UAH 1.7 billion.
The European Bank for Reconstruction and Development (EBRD) plans to provide NEC Ukrenergo with a state-guaranteed loan of up to EUR90 million for the reconstruction of selected substations in the country.
“It is expected that the loan, if possible, will be co-financed by investment grants from international donors totaling up to EUR60 million for the purchase of reserve stocks of electrical equipment and equipment for inter-system connections,” the bank said in a statement on its website.
The project is currently awaiting approval by the bank’s board.
As explained by the EBRD, the goal of the project, with a total cost of EUR 150 million (EUR 90 million + EUR 60 million), is to increase the resilience of the power transmission system in the face of constant attacks to ensure uninterrupted power supply to the population and businesses throughout the country.
In particular, the current loan will be used to reconstruct three existing substations and complete the construction of one new substation in Ukraine, which was started as part of a project financed by the bank in 2014.
The reconstruction of the three existing substations and the completion of the new substation will be carried out in accordance with international best practice, using equipment that meets EU requirements. Some of the damaged or destroyed equipment will be replaced.
Currently, the new substation with 330 kV overhead power lines is being built at the stage of already laid foundations using EBRD loan funds saved as part of the project to build the 750 kV Zaporizhzhya NPP – Kakhovka power line.
As the EBRD recalled, since February 2022, the bank has provided Ukrenergo with three loans as part of its ongoing support, including emergency capital support and emergency investments aimed at restoring the power transmission network after serious damage caused by the Russian military invasion of Ukraine.
According to the EBRD, Ukrenergo has provided the bank with satisfactory reporting on these loans, as well as generally satisfactory reporting in the past. It has the national capacity to implement the bank’s environmental and social requirements (ESR), as well as national and European legislation. The company is strengthening its ESG management system, including inclusive measures, to help it report on sustainability issues in the future in accordance with the EU Corporate Sustainability Reporting Directive (CSRD).
As reported with reference to Maxim Khlapuk, a member of the Verkhovna Rada’s energy committee, as of June 2025, the total amount of credit funds under agreements between Ukrenergo and the EBRD, as well as the European Investment Bank (EIB), amounted to EUR1.22 billion, of which EUR 215.5 million remained unutilized, and with the International Bank for Reconstruction and Development (IBRD) – $509.74 million, of which $54.87 million remained unutilized.
In addition, under two grant agreements between Ukraine and the IBRD for EUR 37.7 million and $200 million, EUR 18.9 million and $134.5 million remained unutilized, respectively.
EBRD, LOAN, POWER GRID, RECONSTRUCTION, SUBSTATION, UKRENERGO
The European Bank for Reconstruction and Development (EBRD) may provide Bank Lviv with an unsecured loan in hryvnia for up to EUR 40 million and guarantees for EUR 31.5 million to cover the credit risk on new loans to the Ukrainian bank for a total amount equivalent to EUR 45 million.
According to the EBRD website, its Board of Directors plans to consider the relevant projects at its meeting on October 22 this year.
According to published materials, the loan is planned to be provided in four equal tranches of EUR 10 million each. It will consist of two components: at least 75% under the EBRD’s Resilience and Livelihoods Program and up to 25% under the EU4Business-EBRD Credit Line with incentives to finance long-term capital investments by MSMEs.
As for the guarantee project, unlike most similar projects with larger banks, it covers 70% of the risk, rather than the usual 50%. It is noted that the mechanism will include two sub-limits with a covered portfolio: EUR 36 million under the Sustainability and Livelihoods Guarantee product and EUR 9 million under the EU4Business-EBRD credit line with incentives.
The EBRD notes that Bank Lviv is a regional bank focused on MSMEs operating in western Ukraine, with total assets of EUR 333 million (0.5% of the market, ranked 23rd among 60 banks) and a loan portfolio (mainly SMEs) of approximately EUR 212 million as of the end of the second quarter of 2025 (1.2% of the market). Bank Lviv has its head office in Lviv and 20 branches.
The European Bank for Reconstruction and Development (EBRD) will provide a long-term secured loan of EUR11 million to Karpatski Mineralni Vody LLC (KMV) from the group of the same name to finance the construction and commissioning of a new beverage production plant with an effective capacity of 200 million bottles per year in the Lviv region.
“The use of modern equipment at the new plant will significantly increase resource efficiency compared to the existing plant. The project will increase the Group’s competitiveness, production efficiency, and environmental performance,” the bank said on its website.
According to the information, the EBRD Board of Directors approved the loan on August 5, and the next step will be the signing of the necessary documents.
It is noted that the total cost of the project is EUR24 million.
KMV LLC is a manufacturing company of the KMV Group, one of Ukraine’s leading producers of non-alcoholic beverages, producing mineral water, flavored mineral water, other non-alcoholic and energy drinks, as well as snacks, the EBRD noted.
According to the project, the group will have to conduct a comprehensive hydrogeological study during the first three years of operation to assess the permissible volume of water intake for the future, as well as ensure automatic monitoring of water intake and groundwater levels at its wells.
The project provides for a first loss guarantee provided by the European Union through the Ukraine Investment Framework (UIF), and the costs of external pre-investment legal and environmental and social analysis will be partially covered by the Japan-EBRD Cooperation Fund.
In addition, KMV is expected to receive a grant under the EBRD’s Human Capital Investment Incentive (HCII) program to cover up to 50% of eligible costs related to improving workplace accessibility and upgrading equipment and infrastructure. It is expected that the grant funds will be allocated from the Japan-EBRD Cooperation Fund or provided by a Taiwanese donor. The project is also expected to receive a FINTECC grant under the EU4Climate program for the purchase of energy-efficient bottling equipment.
According to data from YouControl, KMV LLC increased its revenue by almost 2.3 times in the first half of 2025, to UAH 277.20 million, and its net profit by 8.2 times, to UAH 140.69 million.
The beneficiaries of the company are listed as Serhiy Petrovych and Petro Ivanovych Ustenko, who own 83.77% and 16.23%, respectively.
The revenue of Serhiy Ustenko’s KMV Trading House LLC for the first half of this year increased by 18.5% to UAH 1 billion 71.47 million, while net profit decreased 2.4 times to UAH 61.17 million.
According to the Karpatski Mineralni Vody website, the company began operating in the mineral water market in 1996 with the first bottling of Karpatskaya Dzherelna natural mineral table water, and in June 2002, it was reorganized into a plant for the production of mineral water and non-alcoholic beverages, Karpatski Mineralni Vody. In 2002, the company began producing sweet carbonated beverages under the TM “Fruktova Dzherelna” and TM ‘Sokovinka’ brands, and in 2016, the energy drink TM “Dragon”.
Ukraine and the International Bank for Reconstruction and Development have signed an agreement on a $246.5 million loan under the SURGE program “Supporting Recovery through Sound Fiscal Management,” the Ministry of Finance reported on Saturday.
“It is planned that by the end of 2025, $229.7 million will be allocated to the general fund of the state budget. Part of the loan, amounting to $16.8 million, will be used to capitalize interest in order to reduce the cost of servicing Ukraine’s credit obligations in the coming years,” the Ministry of Finance specified.
The project aims to support the Ukrainian government’s efforts to create an effective public investment management system in the context of post-war recovery and reconstruction, improve fiscal management at the local level, improve medium-term and program budgeting at the local level, and administer revenues, according to the release.
According to the release, the funds will be drawn from the Target Fund for Providing Ukraine with Necessary Credit Support (ADVANCE Ukraine), which is supported by the Japanese government. The agreement was signed by Finance Minister Serhiy Marchenko on behalf of Ukraine and Bob Som, Regional Director for Eastern Europe, on behalf of the World Bank.
The SURGE project has been implemented in Ukraine since 2024. During this time, the World Bank has signed agreements with Ukraine for $760 million in financing under the project, including $10 million in grant funds. It is being implemented using the Program-for-Results (PforR) financial instrument, which is based on the achievement of specific indicators linked to payments.
