The full operational launch is scheduled for the first quarter of 2027.
To enter the market, Iute Group acquired the assets of the bankrupt RVS Bank, paying UAH 7m to the Deposit Guarantee Fund for Individuals. At the time of transfer, the bank’s balance sheet totaled UAH 199m, with the investor assuming obligations to depositors. The transaction was signed on January 15 with the participation of the Deposit Guarantee Fund and Iute Group’s management.
Ukraine will become the fifth country of presence for Iute Group after Albania, Bulgaria, North Macedonia, and Moldova. The group specializes in fintech solutions for individuals, serves more than 265,000 customers, holds assets of approximately €500m, and manages a loan portfolio of nearly €360m.
In Ukraine, Iute plans to focus on mobile banking without physical branches. At the initial stage, the bank will launch accounts and payment services, followed by consumer lending, BNPL solutions, and insurance products. Within three years, the company expects to attract up to 300,000 users.
Artur Muravytskyi, former Deputy Chairman of the Management Board at TAScombank, has been appointed CEO of IuteBank in Ukraine. At launch, the bank’s team will include at least 60 employees.
According to Iute Group co-founder and CEO Tarmo Sild, the Ukrainian banking market has significant growth potential, as total banking assets account for around 30% of GDP—substantially lower than in EU countries.
