Tallinn, Estonia, 6 January 2026. Iute Group, a European digital-first banking group, is striving to enter the Ukrainian market by establishing a regulated bank with a strong focus on digital banking services for everyday financial needs. The market entry is to be based on an agreement with Ukraine’s state-owned Deposit Guarantee Fund following approval by the National Bank of Ukraine. Under the agreement, Iute Group is to acquire a banking license held by a bridge bank together with a selective transfer of low-risk assets and corresponding retail deposit liabilities with a total volume of approximately EUR 4 million from RWS Bank to Iute Group’s newly established bank entity in Ukraine.

The purchase will be financed from existing Group liquidity. Iute Group applies a strict investment discipline and expects the net loss of the Ukrainian banking operations in 2026 not to exceed EUR 3 million.

Following completion of the transaction, the Ukrainian bank entity is to become the legal successor to selected assets and deposit liabilities of RWS Bank. The assets to be transferred consist primarily of government bonds and cash, while loan portfolio and no related credit risk to be excluded. Approximately 13,000 retail customers together with their accounts and deposits are expected to be transferred as part of the transaction. No branch network is to be taken over.

The planned entry into Ukraine is to support Iute Group’s long-term objective to expand its digital-first banking model and to provide simpler, faster and fairer financial services through digital channels. Ukraine has developed into one of Europe’s most digital financial markets in recent years, with a large population and high adoption of digital financial services. Iute Group’s risk-controlled entry structure would allow participation in this long-term growth potential while maintaining clearly defined capital and loss limits.

The bank is to be led by Arthur Muravitsky, an experienced Ukrainian banking executive with more than 22 years in the financial sector. He has most recently served as Deputy CEO and Management Board Member at TASCOMBANK and previously held senior roles at Ukrposhta, Finance Bank and VTB Bank in Ukraine.

Initial activities are planned to focus on capitalizing the bank, building the core team and preparing the launch of digital banking services. The bank is to operate under the brand IuteBank.

Tarmo Sild, CEO of Iute Group: “This step is being taken to support our long-term objective of expanding digital banking services in a disciplined and responsible manner. Establishing a fully digital bank in Ukraine through the selective transfer of a banking license and low-risk assets would allow us to expand our ecosystem in a disciplined and risk-controlled manner. The intended structure of the transaction is designed to participate in long-term growth potential while maintaining clearly defined capital and loss limits.”