It's official — Ukraine has a new bank

It's official — Ukraine has a new bank

Ukraine will have a new bank on its books as of tomorrow, after Estonian fintech Iute Group finalized its entry into the market on March 16 — the first foreign bank to enter the country's competitive banking sector since 2021. Representatives from Iute and Ukraine's Deposit Guarantee Fund announced on Monday at a press conference in Kyiv that Ukraine's central bank had approved the sale, paving the way for the bank to begin operations tomorrow. …

Iute Group starts banking operations in Ukraine

Iute Group has officially launched its banking business in Ukraine under the brand IuteBank.   Earlier this year, Iute Group acquired a local banking licence from a bridge bank.   The acquisition included a transfer of certain low-risk assets and retail deposit liabilities amounting to roughly €4m ($4.6m) from RWS Bank.  In its initial phase, IuteBank will offer a limited range of banking services, including current accounts, deposit products, a…

IuteBank Begins Operating as a Regular Bank in Ukraine

IuteBank, part of the Estonian-based Iute Group, has completed the transition period following the bridge bank process and will begin operating as a regular bank in the Ukrainian market from 17 March. The transition follows Iute Group’s earlier success in the open tender organised by the Deposit Guarantee Fund to transfer selected assets and deposit liabilities from RWS Bank. As of today, Iute Group has recapitalised IuteBank and successfully pa…