The state-owned Oschadbank (Kyiv) has almost doubled the credit limit available to OKKO Group, increasing it from UAH 1.5 billion to UAH 2.85 billion, which is provided for a period of two years.
“Currently, OKKO Group’s loan portfolio at Oschadbank is the largest among all their financial partners. Oschadbank’s liquidity level allows us to continue expanding this portfolio in line with our partner’s ambitious plans,” said Yuriy Katsion, deputy chairman of the board of Oschadbank responsible for corporate business, as quoted by the financial institution’s press service.
The increase in the credit limit will enable the group to manage its operating expenses more efficiently, in particular to maintain the necessary level of fuel reserves, which is important given the market dynamics and plans to expand the OKKO network of gas stations, which currently has 410 facilities, according to the press release.
It is noted that Oschadbank has been cooperating with OKKO Group companies since 2016, but the partnership has significantly strengthened since the start of the full-scale war. In March 2022, during the fuel crisis, the financial institution provided one of the group’s companies with an overdraft of UAH 500 million, thereby enabling it to import additional fuel. Since then, the volume of working capital financing has increased to UAH 1.5 billion.
OKKO Group is a Ukrainian holding company that unites businesses in the fields of trade, construction, agriculture, energy, tourism, and services. The group is based on the OKKO filling station network, which also includes catering establishments, fuel quality control laboratories, shops at filling stations, wholesale sales of petroleum products, and related services.
As reported, in the first quarter of 2025, Oschadbank signed almost three times more loan agreements with corporate clients than in the same period of 2024. Last year, the corporate segment’s loan portfolio grew by UAH 9.3 billion compared to 2023. About 34% of the agreements concluded in 2024 were aimed at financing investment projects.
Since the beginning of 2025, the state-owned Oschadbank has signed loan agreements with large corporate businesses worth EUR 87 million for the implementation of energy projects, which is almost twice as much as in the whole of last year, according to a press release issued by the bank on Friday.
“While in 2024, 70% of the projects we financed were gas piston generation, in 2025, 50% of the projects will be energy storage facilities and 40% will be wind power generation,” said Yevhen Myachyn, director of the corporate business development and support department at Oschadbank, at the Energy Club forum ” Consumer-Oriented Energy System” in Kyiv.
According to him, the stabilization of the energy system, changes in gas prices and reserves have encouraged businesses to shift their focus to technologies that look more promising in the long term.
Oschadbank estimates its share of the energy loan market in Ukraine at 30% according to NBU statistics, which show that from June 1, 2024, to May 25, 2025, banks provided loans and opened limits for energy projects worth UAH 18.2 billion, or more than 705 MW of generation capacity.
“Oschadbank also continues to maintain its leading position in financing companies in the energy sector. According to the results of the first four months of 2025, Oschadbank’s share is 32%,” the state-owned financial institution emphasizes.
According to the National Bank of Ukraine, as of the beginning of 2025, Oschadbank ranked second in terms of total assets (UAH 963.39 billion, or 12.4%) among 61 banks in the country.
The state-owned Oschadbank (Kyiv) has provided the Lviv City Council with a second loan of UAH 668 million for a term of five years to improve energy efficiency and municipal facilities.
“Oschadbank has signed another loan agreement with the Lviv City Council—the second in the last six months—for UAH 668 million,” Oschadbank CEO Serhiy Naumov said on Telegram.
Other terms of the loan have not been disclosed.
The total amount of loans provided by Oschadbank to the Lviv City Council under signed agreements has already exceeded UAH 1.5 billion, the bank said.
It is noted that the funds will be used to develop strategic urban infrastructure, in particular roads and housing and communal services, and one of the main areas of use will be improving energy efficiency.
“The money will go to a biogas plant with combined production of electricity and heat, an electrical substation, a boiler room with connection to a cogeneration unit, and investments in the company Lvivteploenergo,” Naumov added.
As reported, Oschadbank’s share in energy lending in the first quarter of 2025 exceeded 31%. During 2024-2025, contracts worth over EUR 85 million were signed in the corporate business segment with its participation, in particular for projects to develop energy generation and storage. These include the first case on the market of bank lending for a project to install 30 MW of energy storage systems to provide ancillary services, which was implemented by KNESS as part of a tender by NEC Ukrenergo.
State-owned Oschadbank and Ukrgasbank, together with PUMB, issued a loan of UAH 2.8 billion to a defense industry enterprise in the fourth quarter of 2024 under the Program for Strengthening the State’s Defense Capabilities and Meeting the Urgent Needs of the Armed Forces of Ukraine, according to information on the website of the Ministry of Finance.
As clarified to the Interfax-Ukraine news agency by Oschadbank, the bank acted as the organizer of this consortium loan, which was the first loan to the domestic defense industry.
“As the coordinating bank for this agreement, Oschadbank has set itself the main task of creating a consortium not so much to diversify risks as to set a precedent for involving banks that do not have access to state secrets in the financing of defense industry enterprises,” commented Yuriy Katsion, deputy chairman of the board of Oschadbank, responsible for corporate business.
The shares of the participants in the consortium loan are not disclosed.
As reported, since the start of the full-scale war, Oschadbank has concluded loan agreements to support the defense industry worth over UAH 17.1 billion.
According to the Ministry of Finance, in 2024, the state-owned Oschadbank, Ukreximbank, Ukrgasbank, and PUMB provided 11 loans under state guarantees to defense industry enterprises under the above-mentioned program in the amount of UAH 21 billion. Excluding the consortium, Oschadbank issued six loans worth UAH 9.86 billion, and Ukreximbank issued four loans worth UAH 8.25 billion.
A year earlier, Oschadbank provided a loan worth UAH 6.09 billion under this program, and Ukreximbank provided a loan worth UAH 5.98 billion.
According to information from the Ministry of Finance, in 2024, state-owned Oschadbank, Ukreximbank, Ukrgasbank, and PUMB provided 11 loans under state guarantees to enterprises in the defense-industrial complex (DIC) under the Program for Strengthening the State’s Defense Capabilities and Meeting the Urgent Needs of the Armed Forces of Ukraine.
According to the information, Oschadbank became the largest lender, issuing six loans worth UAH 9.86 billion and participating in a consortium loan together with Ukrgasbank and PUMB worth UAH 2.38 billion.
In turn, Ukreximbank provided four loans totaling UAH 8.25 billion.
According to the Ministry of Finance, in 2023, only two loans were provided under state guarantees under the Program for Strengthening the State’s Defense Capabilities: Oschadbank for UAH 6.09 billion and Ukreximbank for UAH 5.98 billion.
As reported to Interfax-Ukraine by Oschadbank, since the start of the full-scale war, the bank has participated in lending to defense industry enterprises in the amount of over UAH 17.1 billion.
“Oschadbank has historically lent to state-owned defense industry companies, so we know better than anyone how difficult it was to simplify access to bank loans for privately owned defense companies and how important this is for the development of the industry,” said Yuriy Katsion, deputy chairman of the board of Oschadbank, responsible for corporate business.
State-owned Oschadbank (Kyiv) earned UAH 4.8 billion in net profit in the first quarter of 2025, keeping the result at the level of the previous year, while net interest income increased by 39%, according to a press release from the financial institution.
“The current profit is driven by operating activities and was achieved through the efforts of the bank’s team aimed at continuing business growth. In response to the challenges posed by rising inflation, Oschad is actively improving its cost control mechanisms,” Oschadbank Chairman of the Board Serhiy Naumov commented on the results.
It is noted that in the first quarter of 2025, net interest income amounted to about UAH 7.4 billion, which is 39% or UAH 2 billion more than in the first quarter of 2024, while Oschadbank’s operating profit for this period amounted to almost UAH 5 billion.
“Currently, Oschadbank has sufficient liquidity and capital. Thus, the regulatory capital adequacy ratio of Oschadbank as of April 1, 2025 is 13.10%, which is significantly higher than the current NBU regulatory value of 9.25%,” the bank said.
According to the National Bank of Ukraine, as of the beginning of 2025, Oschadbank ranked second in terms of total assets (UAH 963.39 billion, or 12.4%) among 61 banks in the country.
The bank’s net profit for 2024 amounted to UAH 7.9 billion, compared to UAH 6 billion in 2023, while operating profit increased by 20% to more than UAH 14 billion.
