Sizeable and well-versed Asters’ Banking, Finance, and Capital Markets team advises Ukrainian and international banks, development finance institutions, borrowers and investors on corporate and project finance, secured lending, capital markets transactions, financial restructuring and regulatory matters. The firm’s expertise also spans foreign exchange regulation, banking and securities licensing, compliance, alongside active involvement in shaping Ukrainian legislation on payment services and non-performing loan management in the state-owned banks. The firm is among the few legal counsel with expertise in capital markets transactions, possessing large-scale restructuring mandates in its current portfolio, and also was actively retained to advise in connection with loans owed by Ukrainian borrowers, including restructuring, enforcement and regulatory advice. Among highlights of 2025 were acting to IFC on the restructuring of a USD 120 million loan to Nibulon, a major Ukrainian agricultural exporter whose operations were significantly affected by the full-scale invasion and advising EBRD in connection with its EUR 15 million loan to one of the leading Ukrainian pharmaceutical companies Yuria-Pharm. The practice is co-headed by three renowned partners. Senior partner Armen Khachaturyan preserves his strategic role in practice guidance. Iryna Pokanay demonstrates her long-term commitment for advising hay-level projects. Roman Stepanenko leads ECA-backed finance mandates, advises on financial institutions and insurance regulation, and PPP framework.

Kinstellar’s banking and finance practice combines investment structuring, regulatory analysis and the preparation of sophisticated cross-border financing documentation. the team advises financial institutions, investment funds, international investors and corporate borrowers on financing transactions, fund formation, capital markets, financial restructuring and fintech-related matters. A significant mandate involves advising the Ukraine Phoenix Tech Fund (UPTF) on the establishment and fundraising of an investment fund. The practice is led by Illya Muchnyk, Partner. Oleksandra Poliakova, managing associate, is another important team member.

Having strong ties with international law firms, Redcliffe Partners advises international financial institutions, development finance institutions, export credit agencies, commercial banks and corporate borrowers on complex cross-border financings, capital markets, secured lending, financial restructuring and regulatory matters. The firm advised the U.S. Department of the Treasury and the U.S. International Development Finance Corporation (DFC) on the establishment of the United States–Ukraine Reconstruction Investment Fund. Also advises the European Bank for Reconstruction and Development (EBRD) on nine portfolio risk-sharing transactions with Ukrainian banks and financial institutions. In agribusiness finance, the team advised the International Finance Corporation (IFC) and DFC on financing for the construction of Astarta’s soy protein concentrate production facility in the Poltava region. Olexiy Soshenko, Managing Partner and Head of Banking and Finance and Debt Restructuring. is among Ukraine’s most respected international finance experts. Another partner in the firm’s banking and finance practice is Andriy Nikiforov.

Sayenko Kharenko advises international financial institutions, commercial banks, governments, corporate borrowers and investors on sovereign and corporate financing, capital markets, debt restructuring, secured lending and financial regulation. The work highlights is advising on landmark Kyivstar Listing, the team acted as Ukrainian legal advisor to the Kyivstar Group in the business combination with Cohen Circle Acquisition Corp. I, that lead to the historic listing of the Kyivstar Group on the NASDAQ Stock Market in the United States. The recent portfolio also includes advising Canada on a CAD 5 billion loan to Ukraine, supporting the legal structuring of a major sovereign financing arrangement, and advising the lenders, agent, arranger and UK Export Finance (UKEF) on a GBP 1.7 billion UKEF-guaranteed defence loan to Ukraine, designed to finance strategically important defence procurement. The firm also advises Ukrainian Railways (Ukrzaliznytsia) on the comprehensive restructuring of its financial obligations relating to outstanding Eurobonds and assisted Vodafone Ukraine with a consent solicitation concerning its USD 500 million Eurobonds due in 2025. Its development finance portfolio includes advising the EBRD on financing for Ukrainian businesses and municipal infrastructure, as well as the European Fund for Southeast Europe (EFSE) on facilities supporting Ukrainian micro, small and medium-sized enterprises. The team is led by partners Anton Korobeynikov, Igor Lozenko and Nazar Chernyavsky, supported by counsel Olexander Olshanksy and senior associates Oles Trachuk and Vladyslava Mitsai. The outstanding Mykhailo Kharenko holds the highest professional positions in banking and finance.

ADER HABER advises banks, financial institutions, corporate borrowers and investors on secured lending, cross-border financing, banking regulation, financial disputes and the protection of creditor rights. The practice combines transactional capabilities with extensive experience in banking litigation, financial restructuring and regulatory matters. Among its major mandates, the firm acted as Ukrainian counsel to a leading Finnish bank on a EUR 100 million financing transaction involving a Ukrainian agribusiness and renewable energy group. Ihor Olekhov, one of the most renowned finance lawyers in the Ukrainian and international markets, is joining the firm as a Partner and Head of the Banking Practice.

Dentons advises lenders, borrowers, investors and international financial institutions on acquisition finance, project finance, secured lending, financial restructuring and regulatory matters. The practice has particular experience in financing energy and infrastructure investments, combining banking expertise with the firm’s transactional and regulatory capabilities. Recent assignments include advising on financing arrangements for renewable energy projects and financing-related transaction involving amendments to security documentation and their registration. Since Natalia Selyakova, a partner in the banking and finance practice, left the firm, Adam Mycyk and Maksym Sysoiev are involved in major financing mandates, while Oleg Batyuk contributes to cross-border banking matters.

ALARIUS Attorney at Law’s banking and finance practice advises on complex banking disputes, disclosure of banking secrecy, and regulatory compliance under Ukraine’s Law “On Banks and Banking Activity,” including matters arising from wartime information-sharing requirements and international transparency standards (FATF, CRS). The practice combines deep experience in the banking sector with representation in commercial disputes, enabling the firm to advise both banks and their clients on issues arising in the provision and receipt of banking services, corporate governance matters, the boundaries of lawful information disclosure, and banks’ performance of payment service provider functions, among others. The practice is coordinated by attorney Liudmyla Myronova, who spent over 17 years in senior legal roles within Ukrainian banks, including eight years heading a bank’s legal department. With 16 years as a practicing attorney and recognized expertise in banking, commercial, and civil law, she leads the firm’s banking direction and commercial disputes practice.

ARIO Law Firm, known for its strong bankruptcy practice, advises financial institutions, corporate borrowers, investors and creditors on financial restructuring, banking regulation, distressed debt and disputes with financial regulators. The firm advises on a major restructuring involving the operator of a Kyiv retail and office complex, as well as on debt restructuring for an industrial trading business. Julian Khorunzhiy, senior partner, and Serhii Derkach are the main figures.

In 2025, EVERLEGAL advises banks, international financial institutions, investment companies, microfinance providers and corporate borrowers on banking regulation, financial services, lending, debt recovery and enforcement. A signifacant mandate involves representing UkrSibbank, part of BNP Paribas Group, in the management and enforcement of a non-performing loan portfolio valued at approximately USD 81.5 million. The firm also advises VisionFund International, a member of the World Vision network, and VisionFund Ukraine on financial services licensing and regulatory compliance, addressing the legal requirements applicable to microfinance operations and lending to vulnerable households and small businesses. Another client, Global Communities, receives advice on financial and regulatory matters arising from its humanitarian and development activities in Ukraine. Andriy Olenyuk and Vsevolod Volkov are the co-heads of the Banking & Finance practice.

Gramatskiy & Partners advises financial institutions, investment vehicles, corporate borrowers and private investors on financing arrangements, secured transactions, financial regulation and cross-border investment structures. The practice has particular experience in corporate financing, intra-group lending, agricultural trade finance and the structuring of investment flows into Ukraine. The practice combines the transactional expertise of Ernest Gramatskiy and Andrii Trembich with the financial regulatory and contractual capabilities of Igor Reutov and Igor Kasianov.

Ilyashev & Partners advises financial institutions, shareholders, investors and borrowers on banking regulation, financing, debt restructuring, insurance regulation and disputes arising from regulatory intervention. For the Estonian Centre for International Development (ESTDEV), the team provides legal advice on the financing framework for reconstruction initiatives in Ukraine. The firm represents a majority shareholder of Bank Sich, in administrative proceedings challenging decisions of the National Bank of Ukraine and the Deposit Guarantee Fund concerning the bank’s withdrawal from the market and liquidation. It also represents shareholders of Alfa-Garant Insurance Company in litigation contesting the NBU’s licence revocation, appointment of temporary administration and liquidation measures. Mikhail Ilyashev, Managing Partner, leads the practice, focusing on banking regulation and financial restructuring, alongside Roman Marchenko, Senior Partner, whose work includes distressed debt and cross-border financial disputes.

KPMG Law Ukraine advises banks, financial institutions, investors and corporate borrowers on financing transactions, banking regulation, currency controls and financial restructuring. The practice has been particularly active in addressing restrictions on cross-border payments, debt servicing, dividend repatriation and financing arrangements under martial law. Its client portfolio includes JCB International Co. Ltd., Chemonics International Inc. and Pluralis B.V. The team also advises on payment services, financial market entry, loan and security documentation and regulatory compliance, and has participated in work concerning consumer lending regulation. . Yuriy Katser, director, and Bogdan Shyshkovskyi, senior counsel, are the main contacts.

Stron Legal Services advises payment service providers, electronic money institutions, virtual asset businesses and other financial technology companies on international market entry, licensing, regulatory compliance and corporate structuring. Its practice focuses on European financial services regulation, including anti-money laundering requirements, financial licensing, data protection and the integration of payment and virtual asset services into cross-border business models. A notable mandate involved advising Virtue Limited on the international tax structuring and regulatory implementation of a Malta-headquartered electronic money institution, addressing the relationship between its financial services operations, group structure and cross-border tax obligations. Oleg Derlyuk, managing partner, is the main figure.

Wolf Theiss has a well-established banking and finance practice advising international businesses on cross-border financing, intra-group funding, financial regulation and currency control. The team has particular expertise in structuring financial arrangements under Ukraine’s wartime restrictions, including limitations on foreign currency transfers, external debt servicing and profit repatriation. Its recent work includes advising EP Commodities on financing its Ukrainian subsidiary while ensuring compliance with National Bank of Ukraine currency control requirements. Oksana Volynets, Senior Associate, heads the practice and specializes in financial regulation, cross-border financing and currency control. Partner Taras Dumych provides strategic transactional support.

Our market research highlights law firms and specialists who, despite not having provided information for this study, remain prominent market players. Information obtained from public sources and recommendations from the professional community emphasize the firm’s market presence.
The firms marked with an asterisk (*) have not submitted information for the current research.

AEQUO* was recognized for its strong market presence and trusted relationships with international organizations, lenders, and Ukrainian borrowers. The practice is led by Yulia Kyrpa, the firm’s banking and finance partner.

AVELLUM* is a top-tier Ukrainian law firm renowned for handling major financing transactions and high-profile restructurings across public and corporate sectors. Given its strong track record in capital markets work, the firm is a key legal advisor to the Ministry of Finance of Ukraine on intergovernmental financial transactions. Glib Bondar, senior partner, is a recognized leader in the banking and finance practice in Ukraine.

The prestigious practice of Baker McKenzie* has recognized strength in a broad range of banking and finance matters, working on both transactional and regulatory mandates. Serhiy Chorny, co-managing partner, is a highly-respected legal professional with a strong reputation and deep commitment to his practice, making him recognized authority in the market.

CMS Cameron McKenna Nabarro Olswang* is a key market player, which is renowned for its expertise in cross-border financing and mandated by banking syndicates for large-scale restructurings. Key practice person Kateryna Chechulina was promoted to partner.

IMPACTA LAW* (until December 2025, the team operated under the INTEGRITES brand) is enlisted to handle large-scale cross-border financing, complex restructurings, regulatory issues, with recently extended presence within capital markets work. The banking and finance practice is led by two partners: Igor Krasovskiy, recognized for his transactional expertise and experience in IFI financing, and Dr. Oleh Zahnitko, who specializes in regulatory projects and driving energy sector reforms in Ukraine.