Iute Group Strives to Enter Ukraine with Acquisition of Banking License
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.
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Originally published on 6 Jan
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Estonia opened the first Business Hub in U.S. Located at the Embassy of Estonia in Washington, D.C., the Business Hub will serve as a bridge between Estonian companies and the vast business opportunities in the U.S. market. A delegation of Estonian defence industry innovators was present at the opening event, also attending the annual AUSA conference.
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Originally published on 17 Oct