"The banking sector shapes a culture of transparency in the economy," — Andrii Bukin, Deputy Chairman of the Board of Pivdenny Bank

The banking sector today plays a key role in shaping a culture of transparency in the economy. This was reported by Andrii Bukin, Deputy Chairman of the Board of Pivdenny Bank, during the Business Wisdom Summit in the panel discussion “Transparent Business: A Duty or a Growth Strategy?”.

According to him, a business’s transparency today directly determines the terms on which a company can raise capital. The more “transparent” (white) a business is, the wider the range of offers it receives in the market, and the stronger its negotiating position becomes.

"This works not because an individual bank sets better conditions for transparent companies. The market itself forms these rules - competition among banks for such a client increases, which leads to lower funding costs and improved financing terms,” Andrii Bukin noted.

At the same time, he emphasized that the advantages of “white” status are not limited to the interest rate on a loan. Transparent companies gain broader access to financial products, better resource-raising conditions, and more opportunities for business scaling - specifically, they can count on long-term financing and investment:

"Long-term capital is only possible for transparent businesses, as such projects require predictability and a clear financial model.”

In addittion, Andrii Bukin highlighted the shift in lending approaches over the last decade. While overdrafts tied to company turnover were previously the primary instrument, banks today are increasingly offering unsecured financing.

“The level of such financing can reach up to 10% of a company’s annual revenue. However, this directly depends on the business’s transparency and the quality of its financial performance,” he explained.

Discussing the role of banks in the de-shadowing of the economy, Andrii Bukin noted that the financial sector is already effectively acting as a driver of change in the real economy. Over the past 5–10 years, transparency requirements have increased significantly, and more companies are adapting to these rules.

At the same time, banks are not imposing new standards on businesses; instead, they are creating economic incentives to operate transparently. “If you want more opportunities and cheaper resources—operate transparently. The market is implementing this very rapidly,” he concluded.