Ukrainian banks have begun to approve loans to enterprises less often - NBU
Ukrainian banks have started to approve loan applications from enterprises less often and have tightened requirements for borrowers. In the third quarter of 2026, the approval rate for corporate loan applications declined for the first time since mid-2024. At the same time, financial institutions raised interest rates and collateral requirements.
This was reported by the National Bank of Ukraine on October 21, based on the results of a survey on bank lending conditions for the fourth quarter of 2026.
Despite the tightening of requirements, banks expect further growth in loan portfolios for businesses and households over the next 12 months. At the same time, the balance of responses regarding future corporate lending growth fell to its lowest level since the second quarter of 2023.
According to banks' estimates, demand for loans from enterprises generally increased in the third quarter. However, for the first time since early 2023, financial institutions did not record an increase in demand from small and medium-sized businesses, as well as for hryvnia loans.
Going forward, banks forecast a pick-up in demand for all types of corporate loans. The largest growth is expected in the segments of lending to large enterprises, short-term and hryvnia loans.
At the same time, credit standards for businesses have become stricter. Financial institutions plan to tighten them further, especially for large enterprises. Banks assess the debt burden of such companies as average, while for small and medium-sized businesses it remains low.
A different situation has developed in household lending. In the third quarter, consumer demand for loans slightly increased. Banks expect a further rise in interest in consumer loans, but for the first time since late 2024, they forecast a decline in demand for mortgages.
Meanwhile, lending conditions for individuals continue to ease. Banks have lowered credit requirements for consumer and mortgage loans and plan to continue doing so. The share of approved applications from households increased, most notably in the mortgage segment.
Despite plans to expand lending, financial institutions are increasingly cautious in assessing clients' creditworthiness. Banks expect a deterioration in the quality of loan portfolios for businesses and households. Regarding household loans, such expectations have persisted for five consecutive quarters.
In addition, respondents reported an increase in all major types of risks. In the coming quarter, they forecast further growth, primarily in credit and currency risks.
The survey was conducted from September 16 to October 7, 2026. It involved 25 banks, accounting for 95% of the banking system's assets. The results reflect the assessments of the financial institutions themselves and are not an official NBU forecast.
Earlier, banks reported easing of lending conditions and expected an increase in demand for mortgages and corporate loans. The new survey showed a change in the trend: requirements for businesses tightened, and expectations regarding demand for housing loans worsened.
Based on materials from: National Bank of Ukraine
