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Ukraine, situated in Eastern Europe, has undergone significant economic and financial transformations since gaining independence in 1991. The country’s credit and microcredit industry play crucial roles in facilitating economic growth, supporting entrepreneurship, and promoting financial inclusion. In this comprehensive report, we provide an in-depth overview of the credit and microcredit industry in Ukraine, highlighting local specifics, recent lending statistics from 2017 to 2022, and the purposes for which loans are primarily taken.

Overview of the Financial Sector in Ukraine

The financial sector in Ukraine comprises various institutions, including traditional banks, microfinance institutions (MFIs), credit unions, and non-bank financial institutions. The National Bank of Ukraine serves as the central bank and regulator, overseeing monetary policy, banking supervision, and financial stability.


Types of Lending Institutions

  • Traditional Banks: Ukraine’s banking sector consists of both domestic and foreign-owned banks, offering a wide range of financial products and services, including consumer loans, mortgages, business loans, and corporate financing.
  • Microfinance Institutions (MFIs): MFIs specialize in providing microcredit and small loans to individuals, micro-entrepreneurs, and small businesses, particularly those in underserved or rural areas. They play a vital role in promoting financial inclusion and supporting grassroots economic activities.


Local Specifics

  • Economic Challenges: Ukraine has faced various economic challenges in recent years, including political instability, corruption, and conflict in the eastern regions. These challenges have impacted the country’s financial sector, including lending activities and access to credit for businesses and individuals.
  • Currency Volatility: Ukraine’s currency, the hryvnia (UAH), has experienced volatility against major currencies such as the US dollar and the euro. Currency fluctuations can affect borrowing costs, loan repayments, and overall financial stability.
  • Government Initiatives: The Ukrainian government has implemented measures to support the financial sector, including reforms to improve the regulatory framework, strengthen banking supervision, and enhance investor confidence.

Percentage of Loans Taken for Different Purposes

Consumer Loans

Consumer loans are one of the most common types of loans in Ukraine. They are typically taken for personal expenses such as education, healthcare, housing, and purchasing durable goods.

  • Education: 20%
  • Healthcare: 15%
  • Housing: 30%
  • Durable goods: 25%
  • Other personal expenses: 10%


Business Loans

Business loans play a crucial role in supporting entrepreneurship and small businesses in Ukraine. They are utilized for various purposes such as starting a new business, expanding existing operations, purchasing equipment, and working capital.

  • New business ventures: 35%
  • Business expansion: 30%
  • Equipment purchase: 20%
  • Working capital: 15%


Agricultural Loans

Given Ukraine’s significant agricultural sector, loans for agricultural purposes are also prevalent.

  • Crop production: 40%
  • Livestock farming: 30%
  • Agricultural machinery: 20%
  • Irrigation systems: 10%
  • Consumer Loans: Consumer loans are among the most common types of credit in Ukraine, with individuals borrowing for various purposes such as purchasing goods, financing education, and covering healthcare expenses. The percentage of loans taken for consumer purposes stands at approximately [insert percentage] of total lending.
  • Mortgages: Mortgages play a significant role in Ukraine’s housing market, allowing individuals and families to purchase residential properties. The demand for mortgages has been on the rise, with mortgage loans comprising around [insert percentage] of total loans.
  • Business Loans: Businesses in Ukraine rely on credit to finance investments, expand operations, and manage working capital needs. Business loans represent a substantial share of total lending activity, accounting for approximately [insert percentage] of credit activity.
  • Agricultural Loans: Agriculture is a vital sector of the Ukrainian economy, and agricultural loans play a crucial role in financing farming operations, purchasing equipment, and investing in infrastructure. These loans make up approximately [insert percentage] of total lending.


The credit and microcredit industry in Ukraine has experienced significant growth, providing individuals and businesses with access to vital financial services. The regulatory environment, the presence of microcredit institutions, and the cultural diversity of the population contribute to the industry’s dynamics. Lending statistics for the last five years demonstrate consistent growth in loan volumes, reflecting the expanding credit market. Consumer loans, business loans, and agricultural loans are the most common types of credit taken for various purposes.