According to the National Bank of Ukraine (NBU), in the third quarter of 2026 Ukrainian banks tightened credit standards for corporate borrowers, while easing mortgage and consumer-lending terms and forecasting growth in business and household loan portfolios over the next 12 months.
Forecasts for loans and deposits for the year ahead
Banks expect corporate and household loan portfolios to increase over the next 12 months. At the same time, the balance of responses regarding changes in corporate lending volumes remains at its lowest level since the second quarter of 2023, and banks anticipate a deterioration in the quality of both business and household loans.
Financial institutions also expect growth in deposit portfolios for both businesses and households, although assessments of corporate deposits have worsened after a previous quarterly peak. Expectations for household deposits have changed little.
Demand and requirements for corporate borrowers
In the third quarter of 2026 demand from firms for loans rose slightly, with the most popular loans going to large enterprises, for long-term financing and in foreign currency. At the same time, for the first time since early 2023 banks did not record an increase in demand from small and medium-sized enterprises for loans in hryvnia.
Over the same period banks tightened lending standards for businesses — particularly for large enterprises, long-term loans and foreign-currency lending. Banks cited expectations for overall economic activity, sector- and firm-specific prospects, the exchange rate and collateral-related risks as reasons for the tightening.
The approval rate for corporate loan applications fell for the first time since mid-2024 across all major loan types. Banks reported higher interest rates and stricter collateral requirements, which constrained firms’ access to credit. They plan to continue tightening standards for the corporate sector in the fourth quarter.
Household lending: conditions and terms
Household demand for loans increased slightly in the third quarter — both for mortgages and consumer loans. Demand was influenced by changes in interest rates, improved consumer sentiment and spending on durable goods.
Banks continued to ease credit standards for mortgages and consumer lending; this trend in the consumer-lending segment has been ongoing since early 2023. At the same time, banks reported improved pricing on consumer loans and their own mortgage products, increases in loan amounts and loan tenors, while mortgage collateral requirements changed little.
The approval rate for household loan applications rose in the third quarter, most noticeably in the mortgage segment. For the fourth quarter banks expect further easing of mortgage and consumer-lending conditions, but they forecast a decline in mortgage demand for the first time since the end of 2024.
