The Ukrainian financial market has witnessed a significant event: the Deposit Guarantee Fund (DGF) has officially concluded the resolution procedure regarding PJSC "First Investment Bank" (PINBank). This decision marks the final point in a complex process of restoring the credit organization, which, following a change in ownership and recapitalization, has returned to full operations.
Restoration of Solvency and Lifting of Restrictions
The key outcome of the Fund's work was the confirmation by the National Bank of Ukraine that PINBank has restored its solvency. Consequently, the DGF has terminated the powers of its curator at the bank. From now on, all temporary restrictions imposed on the credit organization under the legislation on the deposit guarantee system are lifted. In particular, this concerns deposit payout procedures and interest accrual on deposits, which are now regulated in the standard mode.
Successful Sale to a Strategic Investor
A turning point in the bank's fate occurred at the end of April 2026. 100% of PINBank's shares were acquired by the Lithuanian fintech company UAB ZEN.COM. The deal was concluded for 175 million UAH. The new owner promptly recapitalized the bank and ensured compliance with all necessary regulatory requirements.
The resolution story began on February 20, 2026, when the Fund introduced temporary administration after the bank was declared insolvent. By March 31, the open competition to find an investor had concluded. As a result, the option corresponding to the principle of least cost for the system was chosen — the sale of the bank to a private investor. The purchase and sale agreement was signed on April 17.
Maintaining Client and Market Confidence
The DGF emphasizes that the chosen resolution method allowed for the achievement of several critically important goals: maintaining the continuity of client service, fully protecting the funds of depositors and creditors, and avoiding additional strain on the deposit guarantee system itself.
Olena Bila, the Executive Director of the Deposit Guarantee Fund, called the resolution of PINBank one of the most successful examples of the organization's work. According to her, a transparent and competitive process for finding an investor was conducted without interrupting the bank's operations and by attracting an international strategic partner. This is already the fifth case of resolving an insolvent bank implemented by the Fund under conditions of full-scale war.
The parties to the deal also noted the importance of this step for the reputation of the Ukrainian financial sector. The Lithuanian company stated that it views this investment as confirmation of long-term confidence in the Ukrainian financial market and its investment potential, even amidst the ongoing military conflict.