IuteBank begins operations in Ukraine

IuteBank begins operations in Ukraine

Tallinn, Estonia, 16 March 2026. Iute Group, a leading European personal finance group, begins operations with IuteBank in the Ukrainian banking market on 17 March 2026. The start of operations follows the completion of the transition process and marks an important milestone in the Group’s expansion of its digital banking model into one of Europe’s most digitally advanced financial markets. The transition process was completed earlier than initially expected.

With the start of operations, IuteBank will initially offer a focused set of core banking services, including current accounts, deposits, and instant payments, to its existing customer base. This initial phase is designed to ensure a stable and well-governed foundation. The build-out of Iute's full digital product capabilities and the launch of a comprehensive value proposition, including mobile banking and active customer acquisition, is planned for early 2027.

During the transition period, Iute Group recapitalized IuteBank with UAH 293 million (approximately EUR 5.8 million) to strengthen the bank’s capital base. The investment is made within the previously communicated investment framework of up to EUR 15 million for the market entry in Ukraine. The National Bank of Ukraine has confirmed that IuteBank meets all requirements and has successfully passed the supervisory inspection. This confirms the completion of the transition to regular banking operations.

Tarmo Sild, CEO of Iute Group: “Beginning banking operations in Ukraine marks an important milestone in Iute’s expansion strategy. Completing the transition process and starting operations earlier than initially expected reflects the constructive cooperation with the Ukrainian authorities and the strong commitment of our team. Our focus now is on building a digital bank that provides everyday financial services for customers in Ukraine, with a full-scale digital offering planned for early 2027. Our entry into Ukraine reflects our long-term confidence in the country’s financial sector and its future as part of the European economic space.”

Arthur Muravitsky, CEO of IuteBank: “Our immediate priority is to ensure a smooth restoration of banking services for existing customers. In the next phase, we will strengthen the bank’s corporate governance and leadership structure, gradually expand services for existing customers and prepare the launch of our mobile banking application with account and deposit functionality. We appreciate the cooperation with the Deposit Guarantee Fund and the National Bank of Ukraine throughout this process. At the same time, the successful implementation of the bridge bank concept demonstrates how the transition to a new private owner can be managed in a structured and stable manner.”

Contact:

Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: investor@iute.com
Phone: +372 622 9177

About Iute Group:

Iute Group is a digital banking group focused on everyday financial services in Southeast Europe. Established in 2008 and headquartered in Estonia, Iute serves customers in Albania, Bulgaria, Moldova, North Macedonia, and Ukraine. Through the Myiute app and its local operations, Iute provides digital financial services including payments, banking, financing, and insurance intermediation. Iute Group finances its operations through equity, deposits, and secured bonds listed on the Regulated Market of the Frankfurt Stock Exchange and the Nasdaq Baltic Main List.

www.iute.com