The full-scale war has significantly transformed not only the economy but also Ukrainians' attitudes toward loans. Despite the instability, demand for loans has grown, and the lending culture itself has matured.
Regulatory changes, digitalization, and growing trust in financial companies have shaped a new financial reality, where loans have become a common tool and microloans are an integral part of financial planning.
The lending market: from strict regulation to changes in customer behavior
In recent years, the National Bank has introduced a number of regulatory decisions that have completely reformatted the market. The main change in 2024 was the restriction of interest rates. This affected not only the terms and conditions but also the behavior of borrowers: people began to take out longer loans for larger amounts, and microloans ceased to be “micro” — they actually became closer to classic bank loans. Market leaders, in particular Shvidko Groshi, demonstrate a high level of service, simple communication, and a fast online process, which directly builds trust in the MFI segment as a whole.
Almost 60% of Ukrainians have used loans over the past year — less than in developed countries, but a record for Ukraine. Credit has become part of everyday life.
Microcredit as a “magic wand” during the crisis
During the war, microcredit retained its popularity. The secret is simple:
- speed,
- convenience,
- and minimal bureaucracy.
First, COVID played a role in the transition to online services, and then a full-scale invasion. Today, almost all services operate in digital format, and this has become their key advantage.
Customer satisfaction is high:
- 70% of users are satisfied with financial services,
- 69% are willing to recommend companies to friends.
- Financial services have gradually reached European quality standards.
Trust in financial companies: what has changed:
While Ukrainians were wary of non-bank institutions just a few years ago, the situation is now quite the opposite. This has been facilitated by:
- improved service levels,
- modern mobile applications,
- in-depth research into customer experience,
- and a high NPS level of almost 70%.
In addition, installment plans are gaining popularity, allowing people to plan purchases for 6–9 months, from appliances to personal needs. For many Ukrainians, this has become a real tool for budget planning.
“Dii” and verification - a sore point that needs to be addressed
Ukraine is one of the world leaders in the digitalization of public services. But here's the paradox:
non-bank financial companies do not yet have direct access to verification through “Dii.”
This creates unequal conditions between banks and other financial institutions.
Access to “Dія” for the entire market would allow:
- improved data quality,
- enhanced security,
- reduced fraud,
- and more convenient services for people.
- It is expected that this issue will be resolved as part of harmonization with European standards.
Market regulation and “cleaning”: financial companies have become stronger
The National Bank conducted a large-scale market audit:
- it removed unscrupulous companies,
- blocked institutions originating from the aggressor country,
- and tightened corporate governance requirements.
As a result, the level of trust has increased:
- in the NBU – 61%,
- in banks – about 38%,
- in non-bank institutions – 30% and growing.
- The market is becoming civilized, transparent, and predictable.
Financial literacy and responsibility: Ukrainians are maturing
The adoption of the Law “On Consumer Lending” was a turning point. It established:
- clear rules for communication with clients,
- requirements for disclosure of information,
- and more civilized methods of debt collection.
Ukrainians began to:
- read contracts,
- calculate overpayments,
- choose terms that suit their income,
- plan payments for 14, 21, or 30 days.
People became more conscious and responsible, and the customer experience improved significantly.
Conclusion
The Ukrainian financial sector is truly maturing.
Online lending has become the norm, trust in financial companies is growing, and customer behavior is becoming more responsible and conscious. Despite the war, economic challenges, and instability, Ukrainians continue to use financial instruments — but now in a more intelligent, rational, and professional manner.
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