The volume of the P2P lending market since the launch of this service in Ukraine has reached UAH 5 billion, Head of the National Bank of Ukraine (NBU) Valeriya Gontareva has said.

"The P2P platform at present has increased by almost UAH 5 billion," she said at the Vector 17 forum in Kyiv.

At the same time, the NBU head once again warned the P2P platform has no state guarantee of money refunds.

"People need to take a contract, read, who owes them money, and understand there is no bank in the agreement," Gontareva said.

P2P (Peer-to-Peer) lending is a way of borrowing between persons not related to each other without the involvement of a financial intermediary (a bank, a credit union, etc.). Usually loans are provided through the online platforms of intermediaries that charge a fee for granting loans and credit verification instruments.

PrivatBank (Dnipro) launched the P2P lending service in March 2016.