The banks remain optimistic about the development of lending: more than three-quarters of them plan to increase lending to businesses, and the balance of responses regarding growth in lending to households is the highest since the start of 2021. These are the findings of the Bank Lending Survey for Q4 2025.
According to the respondents, the quality of corporate loans will remain unchanged over the next year, but the retail portfolio quality might deteriorate somewhat.
Demand for business loans grew in Q4 and in 2025 as a whole. The banks expect an increase in demand for all types of corporate loans in Q1 2026 as well.
Households’ demand for loans also grew, including for consumer loans (the growth has been observed since Q2 2023). The banks expect demand for both mortgages and consumer loans to rise in the first three months of 2026.
The respondents assessed the debt burden of businesses as moderate and that of households as low.
Competition among the banks and their sufficient capitalization contributed to a certain loosening of lending standards for businesses. In January–March, the banks plan to continue easing lending standards.
The approval rate for corporate loan applications has been rising for three consecutive quarters for all types of business loans, except for FX ones.
The banks also eased lending standards for mortgages and consumer loans. The easing of standards for consumer loans has continued for three consecutive years.
According to the banks’ expectations, the easing of lending standards for consumer loans will continue in Q1, while mortgage standards will remain unchanged.
The approval rate for consumer loan applications increased, while the approval rate for mortgages was unchanged.
In Q4, credit risk increased the most, same as over 2025 as a whole. In the first three months of 2026, the respondents expect an increase primarily in liquidity risk and credit risk.
The survey was conducted between 12 December 2025 and 9 January 2026 among bank credit managers. The responses were provided by 26 financial institutions, which together held 96% of the banking system’s total assets. The survey’s results reflect the views of the respondents and are not assessments or forecasts by the NBU. A survey featuring expectations for Q2 will be released in April.