As part of the side events of the Ukraine Recovery Conference 2026 in Gdańsk, an international conference titled “Ukraine’s Insurance and Banking Sectors: Investment, Partnership, and Economic Recovery” was held.
During the panel discussion “Ukraine’s Banking System: Opportunities for Investment, Recovery, and Growth,” representatives of the Ukrainian banking sector, international financial institutions, and Polish businesses discussed the role of banks in post-war economic recovery, attracting international investment, and deepening international partnerships.
The Association of Ukrainian Banks was represented by AUB Vice President Petro Pekur and AUB Vice President Galina Heylo, while the panel discussion was moderated by Association Vice President and Chairman of the Management Board of GLOBUS BANK Serhiy Mamedov.
Participants in the discussion included Natalia Gurina, Chair of the Management Board of Raiffeisen Bank; Rodion Morozov, Acting Chair of the Management Board of Ukrgasbank; Kristina Mikulova, Head of the European Investment Bank’s Regional Office for Eastern Europe; Olena Zubchenko, Deputy Chair of the Management Board of Sense Bank; Serhiy Chernenko, Chairman of the Management Board of PUMB, and Adrian Witkowski, Director of Compliance and Risk Management at ZEN.COM (Poland).
The banking system has already proven its resilience
In opening the discussion, Serhiy Mamedov emphasized that the Ukrainian banking system has successfully withstood the test of a full-scale war and is now one of the key factors in the country’s economic resilience. That is precisely why it can serve as the foundation for attracting international investment and financing post-war reconstruction.
“Today’s banking sector can serve as the foundation for ensuring the confidence of investment markets. Ukraine has already announced its intentions to privatize certain state-owned banks, and this is an important signal to potential investors. A strong banking system is one of the cornerstones of the country’s future economic recovery,” noted Serhiy Mamedov.
Banks Continue to Finance the Economy
Despite the full-scale war, Ukrainian banks have not only maintained their financial stability but also continue to actively lend to the economy. The banking sector is supporting small and medium-sized businesses, financing new areas of development, and resuming large-scale investment projects.
“If we look at the figures for the past two years, the banking system is outpacing the growth rates seen before the full-scale war. Small businesses are growing steadily, and we’re seeing a rapid increase in demand from the military-tech sector—the potential of this sector is far from exhausted. It’s also encouraging that syndicated lending has resumed—banks are once again pooling their resources to finance large-scale projects,” noted Serhiy Chernenko, Chairman of the Management Board of PUMB.
The Next Step: International Investment
One of the key topics of discussion was the cooperation between Ukrainian banks and international financial institutions. Participants emphasized that international partnerships and additional capital would make it possible to significantly expand the banking system’s capacity to finance businesses, infrastructure projects, and Ukraine’s post-war reconstruction.
The discussion also touched on the need for further integration of the Ukrainian financial sector into the European market, the development of joint financing programs, and the creation of predictable conditions for international investors.
Privatization of State-Owned Banks Will Boost Investor Confidence
Participants paid particular attention to the prospects for the privatization of state-owned banks, specifically Sense Bank and Ukrgasbank. Olena Zubchenko, Deputy Chair of the Management Board of Sense Bank, noted that this process should not only improve the efficiency of the financial sector but also serve as an important signal to international investors regarding Ukraine’s readiness to continue market reforms.
“Our two banks can become two projects that will build trust. We support privatization and understand that, in the long term, this will be the right path for the banks,” Zubchenko said.
Polish Businesses Are Already Investing in the Ukrainian Financial Sector
The stance taken by Polish businesses has also been a positive sign for the Ukrainian market. Representatives of ZEN.COM confirmed that they see significant potential in the Ukrainian financial sector and have already decided to invest in Ukraine.
“I can confirm that now is truly the best time to invest in Ukraine. We believe in the potential of the Ukrainian market and its level of digitalization, and we see great opportunities for growth,” said Adrian Witkowski, Director of Compliance and Risk Management at ZEN.COM (Poland).
According to him, Ukraine’s key advantages remain the high level of digitalization of financial services, a strong IT ecosystem, and a professional workforce.
The Banking System Is Ready for the Next Stage
The panelists reached a consensus: the Ukrainian banking system has already proven its resilience and ability to support the economy even amid a full-scale war. The next phase should involve more actively attracting international investment, deepening cooperation with international financial institutions, and implementing joint projects that will enable the banking sector to become one of the key drivers of Ukraine’s post-war recovery.
