IMK Agricultural Holding reduced its loan portfolio to $18 million by the end of 2025 and plans to reduce this figure to $10 million by the end of 2026, the company’s CEO Oleksandr Verzhikhovsky said at the Forbes Agro conference in Kyiv on Thursday.
“We have always had access to financing from international and Ukrainian banks and have actively used these opportunities. I remember the times in 2021 when we could get loans from Ukrainian commercial banks at 3-4% per annum in foreign currency. Of course, after the start of the full-scale invasion, financial institutions cannot offer such conditions, so we are gradually reducing our credit profile,” he said.
According to the CEO, the company is undergoing a long process of reducing its debt burden. To understand the dynamics, he noted that in 2014, the holding’s credit profile was $140 million. By the end of 2025, this figure had been reduced to $18 million. According to the company’s plans, provided the situation remains stable, the credit portfolio is planned to be reduced to $10 million by the end of 2026.
Against the backdrop of reduced lending, IMC switched to using its own earned funds to invest in its rolling stock and bring the company into compliance with environmental requirements. At the same time, in 2023, the holding became one of the few companies to attract a new loan from the EBRD in the amount of $11 million for the purchase of 75 grain cars to develop alternative export routes. Currently, these cars mainly provide internal logistics.
Verzhikhovsky also emphasized that cooperation with international financial institutions (IFC, EBRD) remains an important factor for IMC in improving the company’s status and the quality of corporate governance.
IMK Agroholding is an integrated group of companies operating in the Sumy, Poltava, and Chernihiv regions (northern and central Ukraine) in the crop production, elevators, and warehouses segments. The land bank is about 120,000 hectares, storage capacity is 554,000 tons for the 2023 harvest of 1.002 million tons.
In January-September 2025, IMC increased its net profit by 43% compared to the same period in 2024, to $67.5 million. The agricultural holding’s revenue for the reporting period decreased by 16% to $118.6 million, while gross profit increased by 6% to $93.2 million and normalized EBITDA increased by 24% to $88 million.
The state-owned Oschadbank (Kyiv) ended 2025 with a net profit of UAH 16.1 billion, which is more than double the 2024 figure of UAH 7.9 billion, the financial institution reported on Thursday.
“In 2025, we proved that a state-owned bank can not only be financially stable, but also remain a leader in customer trust… Last year’s results allowed us to strengthen the bank and create resources for further development,” said Yuriy Katsion, chairman of the board of Oschadbank.
According to the financial institution, its pre-tax profit in 2025 exceeded UAH 19 billion, compared to UAH 18.7 billion in 2024.
Oschadbank specified that one of the key factors in the growth of its financial results was the expansion of lending to the real sector: in the retail segment, the loan portfolio grew to UAH 26.7 billion (+26%), in micro, small and medium-sized businesses – to UAH 30.2 billion (+16%), and in corporate business – to UAH 71.3 billion (+12%).
Interest income from loans increased by 23% last year and exceeded UAH 20 billion, net interest income increased by 28% to UAH 31.1 billion, and total operating income increased by 25% to UAH 38.8 billion, the bank said.
Oschadbank’s liabilities as of the end of 2025 amounted to UAH 467.7 billion, while customer funds increased by UAH 68.5 billion (+18%) over the year.
At the same time, the bank added that work on problem debt, in particular the settlement of NPLs within the framework of the TOK Gulliver project, contributed to the financial result.
According to the bank, the share of government bonds in assets in 2025 decreased to 38% from 45%, reflecting a shift in focus towards lending to the real sector.
The bank reported that it serves about 6 million active customers and is the leader in lending to legal entities with a market share of about 14%. As of January 1, 2026, Oschadbank’s loan portfolio amounted to UAH 128.2 billion (+15.4%).
According to the National Bank, as of January 1, 2026, Oschadbank ranked second (UAH 514.65 billion) in terms of net assets among 60 banks.
According to the results for January-September this year, state-owned PrivatBank received UAH 50.6 billion in net profit, which is 5% or UAH 2.2 billion more than in January-September last year, according to a press release from the bank on Thursday.
“Business results without revaluations, loan risk reserves, and taxes reached UAH 62.6 billion, an increase of 15% (UAH 8.2 billion) compared to the same period in 2024,” the financial institution said.
According to the bank, it ranks first in the market in terms of profitability, generating more than 43.5% of the banking sector’s pre-tax profit. It is noted that this demonstrates the stability of the chosen business model and the growth of operational efficiency despite external challenges.
According to the release, since the beginning of the year, the bank’s net loan portfolio has grown by UAH 30 billion (+27%), reaching UAH 143 billion as of September 30, 2025. According to its data, PrivatBank ranks first in Ukraine in terms of loan portfolio volume, covering almost 15% of the market. At the same time, the market share of loans to individuals is almost 35%.
During the first nine months of 2025, funds in individual customer accounts increased by UAH 59 billion in equivalent terms (+13%), reaching UAH 505 billion, thanks to which PrivatBank, with a market share of 22.9%, is also the leader in terms of deposits from both legal entities and individuals.
“The basis for the bank’s successful financial results is stable and growing net interest (+19%) and commission (+5%) income compared to the first nine months of 2024,” the release says.
The cost-to-income ratio (CIR) is 24.07%, while the average for all banks is 41.77%.
As of October 2025, PrivatBank’s active customer base was 18.1 million individuals, which is 220,000 fewer than at the end of 2024. On the other hand, the number of business clients increased by 20,000 to 930,000 during this period, while the number of users of the Privat24 mobile app decreased by 150,000 to 13.61 million.
According to NBU statistics, as of October 1, 2025, PrivatBank had 1,096 branches, compared to 1,113 on the same date last year.
The bank’s infrastructure includes 7,100 ATMs and 10,300 self-service terminals. As of October 2025, PrivatBank had over 341,000 POS terminals.
According to the NBU, PrivatBank’s total assets reached UAH 1.001 trillion as of September 1, 2025, or 25.6% of the total assets of the Ukrainian banking system.
The loan portfolio of the international financial service NovaPay (TM NovaPay) has grown by 60% since the beginning of the year and reached UAH 1.35 billion as of early August, the company said on Wednesday.
“More than 50,000 customers have active loans, more than 85% of which are consumer loans. Our portfolio has grown by 60% since the beginning of the year,” said Bogdan Gryvko, NovaPay’s risk management director, in a press release.
The company added that customers most often choose installment plans for their loans: the portfolio for this product amounts to UAH 607 million.
In addition to installment plans, UAH 232 million in the portfolio consists of customer obligations on credit cards, the number of which has reached 30,000 since the launch in May, according to the release.
As NovaPay reminded, since last summer, the company has been lending to sole proprietors and businesses, with more than 250 customers already taking out loans worth UAH 144 million.
As reported, NovaPay issued UAH 1.7 billion in loans in 2024. In particular, the amount of loans issued last year to small and medium-sized businesses amounted to UAH 281.4 million.
Since the launch of installment services in July 2024, 97,000 loans totaling UAH 600 million were issued by the end of last year. NovaPay is an international financial service founded in 2001. It is part of the Nova group and provides online and offline financial services at Nova Poshta branches.
It 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 at the end of last year.
According to YouControl, NovaPay’s revenue in the first half of this year grew by 9.3% to UAH 4.53975 billion, while net profit fell by 42.1% to UAH 966.98 million.
Loan services are also provided by a subsidiary, NovaPay Credit, which actively raises money through bond placements. According to reports on its website, NovaPay Credit increased its net profit in the first half of this year by 52.2% compared to the first half of last year, to UAH 53.92 million, with revenue growing 2.7 times, to UAH 260.36 million.
Businessman Oleksandr Yaroslavsky’s bank Credit Dnipro managed to double its loan portfolio last year, with 80% of the growth coming from an increase in corporate loans.
“In 2024, the bank’s loan portfolio doubled, and 80% of the growth was in corporate financing, while the growth of our agricultural portfolio was 65%,” said Serhiy Panov, Chairman of the Board of the financial institution, in a blitz interview with Interfax-Ukraine.
According to the National Bank of Ukraine (NBU), the bank’s loan portfolio amounted to UAH 7.83 billion as of January 1, 2025, of which UAH 6.88 billion was to businesses.
The Chairman of the Board said that in 2024, the bank’s retail business “opened a second wind”: customers were offered a new mobile application, the development of the regional network continued, and the financial institution entered the top 5 banks in terms of lending under the eHouse state program.
“This year, we aim to increase our momentum and increase our presence in the retail sector,” Panov said.
As of January 1, 2025, according to the National Bank’s statistics, the financial institution ranked 20th in terms of total assets (UAH 24.34 billion) among 61 banks in the country. The bank’s net profit last year amounted to UAH 175 million.
Borrowings from clients in the agricultural sector account for about 40% of the loan portfolio of the state-owned Ukrgasbank (Kyiv), said Mykola Alfyorov, deputy director of the small and medium business department of the financial institution.
“In general, 40% of our loan portfolio is made up of clients from the agricultural sector. This area will always be a priority, despite all the risks, as evidenced by the statistics of all banks,” he said at the Agro Finance Summit in Kyiv on Thursday.
According to him, in 2024 Ukrgasbank increased lending to the agricultural sector in the investment direction: it accounted for 50% of all loans. In total, since the beginning of the full-scale war, the bank has issued loans for almost UAH 10 billion.
“In the first year of the war, it was a task aimed at replenishing working capital and providing it to farmers so that they could sow and harvest on time. Already in 2023, we saw a dynamic increase in the investment interest of the agricultural sector, and in 2024 it was a real growth,” said Alfiorov.
Among the most popular financial products among agrarians, he named the state program “5-7-9%” in combination with international programs.
The Deputy Director of the Department also pointed out that Ukrgasbank actively provides financing up to UAH 8 million using guarantee mechanisms from farmers, but this amount can be doubled to UAH 16 million under a portfolio guarantee or a guarantee of an international organization.
According to the National Bank of Ukraine, as of November 1, 2024, Ukrgasbank ranked 5th (UAH 136.18 billion) among 62 banks operating in the country in terms of total assets. The net profit of the financial institution for 10 months of the year amounted to UAH 4.84 billion, while for the same period in 2023 it was UAH 3.36 billion.
