Business lending is on the rise in Ukraine.

The share of hryvnia loans for small and medium-sized enterprises is rapidly increasing, with their volume rising by 22.1% over the past year. This was announced by the Chairman of the National Bank of Ukraine, Andriy Pyshny.

"Lending has exceeded all expectations at the beginning of 2024. Over the year, the volume of business loans increased by 20.6%, while net hryvnia loans for SMEs grew even faster – by 22.1%. Their share in the total portfolio of hryvnia business loans reached 60.2%," noted Pyshny.

He emphasized that net hryvnia loans for businesses have been increasing for a year and a half consecutively. At the same time, the share of loans under the "Affordable Loans 5-7-9%" program has decreased to 33.7% in the net hryvnia portfolio.

The share of long-term hryvnia loans (with a term of more than three years) has also increased to 25.2%, with their volume growing by 58% over the year.

According to the NBU, a trend is emerging in the business environment toward a revival of investment demand. Additionally, the volume of net hryvnia loans for individuals has increased by 39.9% over the year.