Estonia’s Iute Group plans to acquire a banking license from a bridge bank in Ukraine. The deal includes transferring €4m in assets and retail deposits from RWS Bank. The National Bank of Ukraine has approved Iute Group’s entry into the Ukrainian market. The acquisition will be funded internally, with an estimated net loss of €3m in 2026.

The assets transferred include government bonds and cash, with no credit risk involved. Approximately 13,000 retail customers will move to Iute Group, with no branch network included. Arthur Muravitsky will lead the new operation, focusing on capital, management team, and digital services launch. The new entity will operate under the IuteBank brand.

Iute Group’s CEO, Tarmo Sild, aims to expand digital banking services responsibly. The move to establish a fully digital bank in Ukraine will allow for disciplined growth. The transaction is structured to participate in long-term growth while managing risk effectively. The initiative aligns with the company’s goal of expanding digital banking services in a controlled manner.

Read more at Yahoo Finance: Iute Group to enter Ukraine with bridge bank banking licence