NBU Strategy

National Bank of Ukraine Strategy

The NBU was one of the first among public sector authorities to develop a new institutional Strategy focused on the resistance to russian aggression and the country’s reconstruction.

Following the two-year implementation, the NBU Strategy 2025 was revised in 2023 in the wake of the full-scale military invasion by russia.

The first update of the Strategy took place in January 2024, the second in January 2025.

The Strategy takes into account the impact of russian invasion on the conditions of the financial system’s functioning.

The NBU’s Vision and Mission have been revised to meet the challenges of military aggression.

In order to successfully implement the NBU’s Vision and Mission amid current conditions and to live up to the expectations of customers, the NBU’s strategic objectives take into account the challenges that arise in two areas: resistance to russian aggression and Ukraine’s reconstruction.

What we observe today is that the high level of uncertainty and volatile environment require flexibility in planning and the use of implementation tools to respond more quickly and effectively to changes. Amid this uncertainty, we plan a zone of certainty and devise alternative action plans in advance for any scenario.

The NBU is capable of fulfilling its mandate under any conditions and unite the key players of the financial ecosystem to maintain the country’s financial resilience and ensure the financial inclusion of citizens.

Strategic Development Goals

The NBU’s strategic goals are focused on its main functions – to ensure the price and financial stability – and on supporting the country’s efforts for victory.

The Strategy will be implemented according to five strategic development goals. The first four goals are external and aimed at meeting the needs of financial ecosystem participants. The fifth goal – Effective Central Bank – aims to improve the carrying out of the NBU’s Mission and Vision through internal transformation.

The strategic goals are detailed in 25 strategic initiatives, on which the central bank will focus in the coming years.

Strategic directions and goals of the NBU: table of initiatives grouped by five priority areas
Image description: Strategic directions and goals of the NBU (2025)

This infographic outlines the National Bank of Ukraine's strategic framework through 2025, broken into five pillars with 25 initiatives in total. Each initiative is tagged by its relevance to:

  • Focus 1: Resistance (pink square)
  • Focus 2: Recovery and Development (green square)
  1. I. Sustainable hryvnia (1 initiative)
    • Price stability and exchange rate sustainability
  2. II. Financial stability (5 initiatives)
    • Balanced regulation and supervision oriented to development
    • Sustainable and efficient banking system
    • Insurance market is cleaned up and ready to support the recovery
    • Non-bank financial and payment market: transparent and technological
    • Reliable and sustainable financial market infrastructure
  3. III. Financial system operating for the country's recovery and integrating into the EU (7 initiatives)
    • Responsible financial market
    • Developed credit market
    • Developed insurance services market
    • Developed capital markets infrastructure
    • Financial literacy of the population and entrepreneurs
    • Barrier-free and inclusive financial system
    • Integration in the EU financial services market
  4. IV. Modern financial services (6 initiatives)
    • Financial market as a digital fortress
    • Virtual assets and NBU’s digital currency: clear regulation to ensure monetary sovereignty
    • Digital financial services as part of the digital country
    • Technological development of the financial market
    • Sustainability, effectiveness, and customer-oriented approach to cash circulation
    • Power Banking 2.0: infrastructure repairs in de-occupied areas
  5. V. Effective central bank (6 initiatives)
    • NBU’s voice
    • Development of the NBU’s institutional relations with stakeholders
    • International cooperation and experience exchange
    • Effective and uninterrupted operating activities
    • Digital transformation
    • Human capital as the main asset

Initiatives are grouped by theme and color-coded. The summary at the bottom of the image confirms the total: 1 + 5 + 7 + 6 + 6 = 25 initiatives.

The Strategy is focused on:

  • Resistance – short-term measures aimed at ensuring stability and preventing a deterioration of the situation in the financial system and the economy in general, including the use of tools to control inflation and the hryvnia exchange rate, supporting the banking system, etc.
  • Recovery – medium-term measures aimed at introducing transformations that will form the basis for future reconstruction and growth of the economy, for example: reducing bureaucratic barriers, enhancing transparency and competitiveness of the environment, attracting investments, etc.
  • Both focus points are medium-term comprehensive measures aimed at ensuring stability and further recovery and development. Some of the key deliverables will be implemented in the short term.

Useful Materials

Strategy of the National Bank of Ukraine

Strategy of the National Bank until 2025 (discontinued 2023)

Strategy of Ukrainian Financial Sector Development until 2025 (updated in March, 2021)

National Bank of Ukraine Strategy, 2018-2020

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