Nova Group, which owns Ukraine’s largest private postal operator, is negotiating the acquisition of BTA Bank and, in the longer term, intends to transform it into the country’s first financial inclusion bank (FIB). The transaction could be completed by the end of the summer, according to sources in the financial market and the National Bank of Ukraine.
According to the sources, after the acquisition the bank may be reformatted: Nova plans to give up a full banking licence and switch to the FIB model — an institution with a limited banking licence provided for by new legislation adopted in 2025 and set to take full effect in 2026.
A financial inclusion bank will be able to provide a broad range of basic services to the population, including opening deposits and carrying out payment transactions, but with certain restrictions. In particular, such banks will not be allowed to lend to large businesses with annual revenue of more than €5 million, invest in most securities other than Ukrainian domestic government bonds and NBU deposit certificates, or conduct intermediary activities on the stock market.
The key goal of the new type of bank is to expand access to financial services in regions with underdeveloped banking infrastructure, particularly in rural areas and frontline territories. The FIB model is viewed as an alternative to the classic “postal bank” concept previously promoted by Ukrposhta.
Sources note that Nova has chosen a more complex path: first acquiring a fully licensed bank and then changing its licence. The target of the transaction is said to be BTA Bank — one of Ukraine’s smallest banks, with assets of around UAH 295 million and a single branch in Kyiv. The institution serves fewer than 1,000 clients and effectively does not conduct active market operations.
BTA Bank is a subsidiary of Kazakhstan’s BTA Group, controlled by businessman Kenes Rakishev. The financial group had previously been winding down its banking business in CIS countries and selling its foreign assets.
BTA Bank was earlier considered part of the ecosystem project of Kazakhstan’s fintech giant Kaspi, which planned to create its own super-app service in Ukraine, but these plans were halted after the start of the full-scale war.
According to analysts, the value of Ukraine’s BTA Bank may be around UAH 200 million or slightly above the size of its capital, although a sale at a discount is not ruled out.
Nova Poshta and BTA Bank have not officially confirmed details of the potential transaction, citing the confidentiality of negotiations. At the same time, the NBU confirmed the company’s interest in obtaining the status of a financial inclusion bank.
Experts note that the key motive behind the transaction is Nova Poshta’s strategic goal of developing its own financial ecosystem and potentially creating a super-app. The company already provides payment and credit services through NovaPay, but a banking licence would open additional opportunities, including attracting deposits, directly managing liquidity and reducing dependence on third-party banks.
At the same time, sources at the NBU note that the regulator has previously been cautious about the idea of granting a full banking licence to a logistics company due to financial monitoring risks. In 2025, NovaPay had already received a fine for violations in this area.
If the transaction is completed, Nova Poshta could become the first player in Ukraine’s financial inclusion banking market and one of the main contenders to create a large-scale ecosystem-type fintech bank.
