This transfer follows the success previously achieved by Iute Group in an open tender organized by the Deposit Guarantee Fund to transfer certain deposit-related assets and liabilities from RWS Bank. Iute Group recapitalized IuteBank and successfully passed an examination conducted by the National Bank of Ukraine. Upon confirmation that IuteBank meets all regulatory requirements, the Deposit Guarantee Fund will finalize its role in this process.
Once the transition period is over, IuteBank will start operating as a regular market participant. The bank will resume providing basic services to existing customers, including deposits, current accounts and instant domestic payments.
Tarmo Sild, CEO of Iute Group, said that entering the Ukrainian market as an operating bank is an important step in Iute’s expansion process.
“Successfully passing the inspection by the National Bank of Ukraine, completing the transition process and entering the market as an operating bank marks an important milestone for IuteBank in Ukraine. We are now focused on building a digital bank that will provide everyday financial services to customers in Ukraine, with the launch of a full range of digital services planned for early 2027,” said Seald.
Artur Muravicki, CEO of IuteBank , said that the bank will first focus on ensuring a seamless return to business as usual for existing customers. According to him, the next phase of the bank’s development is aimed at strengthening its corporate governance and leadership structure, expanding the range of services offered to customers as well as preparing for the launch of the bank’s mobile application, which will include features for account and deposit handling.
“The completion of the transition period allows IuteBank to start operating as a normal market participant. We appreciate the cooperation with the Deposit Guarantee Fund and the National Bank of Ukraine throughout this process. Our immediate priority is to restore banking services to existing customers. At the next stage we will implementdigital financial solutions, ” said Muravicki.
The CEO of Iute Group emphasized that the entry into the Ukrainian market demonstrates the banking group’s long-term confidence in the country’s financial sector and its future as part of the European economic space. The group and its subsidiaries have supported Ukraine since the beginning of the war.
Iute Credit
Iute Group is a digital banking group specializing in everyday financial services in Southeast Europe. Founded in 2008 and headquartered in Estonia, Iute serves customers in Albania, Bulgaria, Moldova, Northern Macedonia and Ukraine. Through the Myiute app and its local divisions, Iute provides digital financial services including payments, banking, lending and insurance intermediation. Iute Group finances its operations with equity, deposits and secured bonds listed on the regulated market of the Frankfurt Stock Exchange and on the Nasdaq Baltic Main List.
PRESS RELEASE, March 16, 2026.
