According to Experts.news, Ukrainians’ total debt to microfinance organizations (MFOs) reached 32.32 billion UAH as of July 1, 2026, an increase of 17%—or 4.7 billion UAH—since the beginning of the year. At the same time, the number of court cases filed by the largest players in the microcredit market rose significantly in 2026, according to data from the analytical service “OpenDataBot” published on September 1 and October 28.
According to statistics from the National Bank of Ukraine, during the first half of 2026, the population entered into 4,196,309 contracts with microfinance organizations totaling 37.5 billion UAH.
At the same time, the number of loans issued did not change significantly compared to last year and amounted to approximately 700,000 contracts per month.
The main change is related to an increase in the average loan amount.
In the second quarter of 2026, it reached 9,170 UAH, compared to approximately 6,290 UAH during the same period in 2025. Thus, the average microloan increased by nearly one and a half times.
At the same time, the total debt of the population to MFIs continued to grow.
As of the end of 2022, microloan debt stood at approximately 8 billion UAH. However, starting in 2023, this figure began to rise, exceeding 32 billion UAH by mid-2026.
The growth in lending volumes has been accompanied by an increase in revenue for the largest microfinance companies.
According to OpenDataBot, the combined revenue of Ukraine’s ten largest MFIs for January–June 2026 totaled 12.78 billion UAH, while their combined profit amounted to 1.16 billion UAH.
“Ukr Credit Finance,” operating under the CreditKasa brand, took first place in terms of revenue with 1.99 billion UAH. The company’s profit amounted to 172.6 million UAH.
“E Groshi” took second place in revenue among MFOs with 1.85 billion UAH, while “Spotzhyvchyi Tsentr,” operating under the “ShvydkoGroshi” brand, took third place with 1.52 billion UAH.
At the same time, “Spotzhyvchyi Tsentr” was the most profitable company among the top ten MFOs, with a profit of 361.3 million UAH for the first half of the year.
According to the ranking of corporate plaintiffs published on October 28, “Ukr Credit Finance” also ranks first in Ukraine in terms of the number of new court cases.
In the first half of 2026, 80,421 cases were filed based on its claims, compared to approximately 23,000 for the entire year of 2025.
“Consumer Center” ranks second with 68,076 cases, which is 36% more than in the full previous year.
Thus, the two companies, which are among the largest players in the microcredit market in terms of financial indicators, have also become leaders in the number of court cases filed.
Vasyl Krat, a judge on the Supreme Court of Ukraine, attributes the high number of credit disputes, in particular, to the lack of a fully-fledged out-of-court mechanism that would simultaneously ensure the collection of legitimate debts and protect citizens from excessive interest rates.
He also draws attention to the financial difficulties faced by the population amid a full-scale war, when the loss of income and property increases the need for short-term loans but simultaneously limits the ability to repay them.
At the same time, debt indicators and the number of court cases cannot be directly equated.
MFI statistics reflect borrowers’ aggregate financial obligations as of a specific date, whereas the ranking of corporate plaintiffs takes into account the number of pending court cases. It does not include data on the amounts of claims, their resolution, or the amounts actually recovered.
Furthermore, the study does not establish a direct cause-and-effect relationship between the growth in debt to MFIs and the number of lawsuits filed against specific companies.
At the same time, the combination of an increase in the average size of microloans, total household debt, and creditors’ litigation activity indicates the growing significance of the consumer debt problem for Ukraine’s financial market.
Microfinance organizations are participants in the non-bank financial market and primarily provide short-term consumer loans to the public. The National Bank of Ukraine regulates and supervises their activities.
Sources: “OpenDataBot,” microcredit statistics as of September 1, 2026; “OpenDataBot,” ranking of corporate plaintiffs as of October 28, 2026; Supreme Court of Ukraine, commentary on interest rates on consumer loans.
According to Experts Club, the largest companies in Ukraine’s non-bank consumer lending market significantly increased their revenue in the first half of 2026. The combined revenue from financial services provided by the five largest players in the segment reached 7.55 billion UAH, which is 24.5% more than in January–June 2025, according to calculations by the Experts Club analytical center based on reports from the National Bank of Ukraine.
When compiling the ranking, Experts Club considered companies whose primary business is issuing consumer and short-term non-bank loans. Therefore, the leasing companies “OTP Leasing” and “ULF-Finance,” which are included in the NBU’s general ranking, were not included in the microcredit ranking.
First place goes to “Ukr Credit Finance,” which operates under the CreditKasa brand. The company’s revenue from financial services for the first half of the year reached 1.977 billion UAH, compared to 1.871 billion UAH a year earlier. This represents growth of approximately 5.7%. The company’s net profit reached 172.6 million UAH, compared to 68.1 million UAH in the first half of 2025, meaning it increased by approximately 2.5 times.
In second place is “Spozhyvchyi Tsentr” LLC (TM “ShvydkoGroshi”) with revenue of 1.504 billion UAH. A year earlier, this figure stood at 1.032 billion UAH, meaning growth reached 45.8%. At the same time, the company became the leader in net profit among leading microcredit providers—361.3 million UAH compared to 186.1 million UAH a year earlier.
Third place goes to FC “Ye Hroshi” with revenue of 1.482 billion UAH, which is 34.7% higher than the figure for the first half of 2025—1.100 billion UAH.
In fourth place is “Aventus Ukraine,” operating under the CreditPlus brand. The company increased its revenue from 1.169 billion UAH to 1.413 billion UAH, or by approximately 20.9%. CreditPlus’s net profit nearly doubled—from 128.3 million UAH to 233.4 million UAH.
Miloan ranks fifth with revenue of 1.172 billion UAH, compared to 893.4 million UAH for the same period last year. Thus, the company increased this figure by approximately 31.2%.
The ranking of the largest microcredit companies by revenue for January–June 2026 is as follows:
CreditKasa — 1.977 billion UAH, +5.7% year-over-year
“ShvidkoGroshi” — 1.504 billion UAH, +45.8%
“Ye Groshi”—1.482 billion UAH, +34.7%
CreditPlus—1.413 billion UAH, +20.9%
Miloan—1.172 billion UAH, +31.2%
The combined revenue of these five companies grew from 6.07 billion UAH to 7.55 billion UAH.
Three other notable online lending companies made it into the top ten of all financial companies in Ukraine by revenue from financial services. MyCredit earned 1.071 billion UAH, which is 4% less than a year earlier, while Credit7 earned 1.012 billion UAH, or 6.8% more. “Bizpozika,” which specializes, in particular, in lending to entrepreneurs and small businesses, increased its revenue by a whopping 91.7%—to 1.066 billion UAH.
Thus, a significant portion of Ukraine’s highest-revenue non-bank financial companies today are involved specifically in lending to individuals and small businesses.
Experts Club notes that the first-half results indicate not only the recovery of the non-bank lending market following the shock of the first years of full-scale war but also its continued concentration around a few major digital brands.
The difference in growth rates is particularly telling. CreditKasa remains the largest company in terms of absolute revenue, but “ShvidkoGroshi,” “Ye Groshi,” and Miloan grew the fastest among the top five in the first half of the year. This means that the gap between market leaders is gradually narrowing.
At the same time, revenue growth should be evaluated alongside profitability. For example, “ShvidkoGroshi,” with revenue of approximately 1.5 billion UAH, reported a net profit of 361.3 million UAH, while CreditKasa, with nearly 2 billion UAH in revenue, earned 172.6 million UAH. CreditPlus, with revenue of 1.41 billion UAH, reported a profit of 233.4 million UAH.
In total, the NBU’s report for the first half of 2026 includes 381 financial companies, compared to 422 a year earlier. A total of 318 companies reported profits, with their combined financial result amounting to 10.8 billion UAH, compared to 8.7 billion UAH for the same period in 2025.
Another 64 financial companies ended the half-year with losses totaling 245.5 million UAH.
According to Experts Club, market dynamics point to two parallel processes: demand for fast non-bank loans remains high, and the sector itself is growing and becoming more financially stable, despite a decline in the total number of active financial companies.
Going forward, key factors for the market will include the cost of customer acquisition, the level of non-performing loans, regulation of the maximum cost of consumer loans, and the ability of companies to retain borrowers amid growing competition from banks’ digital lending products.
Data source: National Bank of Ukraine statistics for the first half of 2026, published in the NBU’s supervisory statistics section.
NBU Statistics on the Nonbank Financial Market
CreditKasa (Ukr Credit Finance LLC), one of Ukraine’s leading non-bank financial companies, together with the placement organizer—the investment firm “UNIVER Capital”—announces the launch of the initial public offering of its debut Series A corporate bonds. The total issue amount is 100 million hryvnias. This top fintech company’s entry into the public capital market offers retail investors a reliable and highly liquid alternative to traditional savings instruments.
CreditKasa has been operating in the market since 2017 and, according to NBU data on key performance indicators for financial companies for 2024–2025, ranks first in terms of revenue among non-bank financial companies in Ukraine. Over 2 million citizens have already used the service.
The robustness of the business model is confirmed by record financial results: the company’s net revenue for 2025 amounted to 3.84 billion UAH, and profit reached 350.3 million UAH. As of June 19, 2026, CreditKasa’s loan portfolio stands at over 12 billion UAH. The main driver of growth is the full automation of 24/7 processes thanks to artificial intelligence and modern scoring systems, which ensure strict risk control.
The investments raised will allow CreditKasa to accelerate the implementation of the company’s technological development strategy. “The funds will be used to scale the loan portfolio, launch new financial products, and develop proprietary AI-based solutions that ensure fast customer service and effective risk management,” said Yevgen Rezuev, CEO of CreditKasa.
Bond purchases will be conducted using the modern European “delivery versus payment” (DvP) model, which guarantees 100% security of settlements. Thanks to the full digitization of processes, retail investors can submit an application to purchase the bonds in just a few clicks via the UNIVER mobile app or the Investor’s Dashboard. Pre-orders for the auction are now being accepted.
Once the initial offering is complete and the report has been expedited through the National Securities and Stock Market Commission (NSSMC), CreditKasa bonds will promptly enter the secondary market. “UNIVER Capital” will traditionally act as the issue’s market maker, providing two-way quotes (buy/sell) directly within the UNIVER app, which will ensure investors instant liquidity in real time.
About the Issuer: Ukr Credit Finance LLC
Ukr Credit Finance LLC (CreditKasa TM) is one of the undisputed leaders in the Ukrainian online lending market, operating since 2017. According to the National Bank of Ukraine (NBU), the company ranks first in terms of revenue among non-bank financial institutions in Ukraine, serving over 2 million customers through fully automated fintech solutions.
About the placement arranger: UNIVER Capital LLC
The Ukrainian investment group “UNIVER” is a leading group of companies that, since 2005, has been providing brokerage, dealer, and depositary services, conducting underwriting, and managing the assets of institutional investors. The company specializes in raising capital for Ukrainian businesses and has previously successfully organized bond issuances for such market leaders as “Nova Poshta,” “NovaPay,” “Novus,” “Activitis,” “ShvidkoGroshi,” and “VikingPark.”
UNIVER offers a wide range of investment opportunities for both individuals and legal entities. Its proprietary UNIVER mobile app provides clients with reliable and convenient access to financial instruments.
*Bond issuer: Ukr Credit Finance LLC.
