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Oschadbank launches online lending for MSMEs

KYIV. March 13 (Interfax-Ukraine) – State-controlled Oschadbank (Kyiv) has launched an online lending service for micro/small and medium-sized enterprises (MSME), Natalia Butkova-Vytvytska, a member of the bank’s board responsible for MSME, said at the Digital Lending 2023 forum.

“Any client, regardless of his legal form of ownership, can get a preliminary decision within 24 hours, provide a list of documents and get a final decision using this service,” the representative of Oschadbank explained.

She noted that the average micro business check for lending through the new service is UAH 1.5 million, small business – UAH 5 million, medium business – UAH 10 million.

“Before that, four banks in the Ukrainian market offered similar financing, but only for one segment of clients – individual entrepreneur. Today I can say that Oschadbank destroys the “myth” and takes the first step towards legal entities,” the board member emphasized.

Oschadbank was established in 1991, its sole owner is the state.

According to the NBU, as of January 1, 2023, Oschadbank ranked second in terms of total assets (UAH 298.2 billion) among 67 banks operating in the country.