The National Bank of Ukraine (NBU) released its latest data on payment card activity, revealing a significant drop in the number of active cards during the second quarter of 2025. The figure fell to 58.06 million, marking the most substantial decline in three years. This data highlights a concerning trend in the financial sector, particularly as the country continues to navigate economic challenges.
Universal Bank (mono) appears to be making progress in closing the gap with its main competitor, PrivatBank. While PrivatBank saw a rise in its card numbers in the first quarter, mono has managed to reduce the gap between the two institutions. This suggests a potential shift in the competitive landscape of Ukraine’s banking industry, with mono increasingly challenging PrivatBank’s dominance.
The decline in active payment cards could have broader implications for the Ukrainian economy, particularly in terms of consumer spending and financial inclusion. With fewer active cards, there is a possibility of reduced transaction volumes and potential impacts on the overall economic activity. However, the narrowing gap between mono and PrivatBank indicates a more competitive environment that may ultimately benefit consumers through improved services and innovation.
As the financial sector continues to evolve, the NBU will likely monitor these trends closely to ensure stability and growth. The report serves as a reminder of the importance of maintaining a dynamic and competitive banking environment that supports both businesses and individuals within Ukraine.