History

JSC Ukrainian Innovative Bank was established in January 24, 1989 during the Soviet time. Ukrinbank is the first commercial bank on the territory of the Ukrainian SSR.

Between 1989 – 1991 (prior to Ukraine’s independence) Ukrinbank conducted activity targeted at the cash services for commercial institutions at the stage of their development and crediting of innovative projects,  scientific-and-technical developments, and financing of their implementation into manufacturing.

After 1991 Ukrinbank had to change orientation of its activity to the one aimed at foreign economic activity of its clients. Today, Ukrinbank is a universal credit-financial institution which provides a whole range of traditional and innovative services that correspond to international standards.

The development of the Ukrinbank regional network began in 1992 and became the basis for the financial stability of the Bank. Currently, the Bank has a network of many branches and departments, represented in all regions of Ukraine (21 bank branches and 85 departments.)

In 1995, Ukrinbank became one of the leading bank institutions of Ukraine, and along with financing of small and medium businesses, initiated the work with large state enterprises.

A number of banks worldwide collaborate with Ukrinbank. The main correspondent banks are the world leading credit-financial establishments with the highest ratings – Deutche Bank, Commerzbank AG, JSC Sberbank of Russia, and others.

The contemporary means of telecommunication and set correspondent relations ensure performing payments within the shortest terms in all the world currencies, therefore, effectively managing financial flows.

The Bank is an active operator of Ukraine’s stock market, providing its clients with the services on the purchase and sale of securities, depositing, registration services, and consulting on the investing costs into the national economy.

In 1995, JSC Ukrinbank was among the first to sign the agreements with American Express and Thomas Cook.

Since 1996, the Bank has been the Principle member of international payment systems Visa International and MasterCard Europe S.A., has a full range of licenses, and continues to develop the card business among Ukrainian leading banks. As of today, Ukrinbank has emitted nearly 100 000 Visa and MasterCard cards and has a developed card infrastructure – more than 250 cards service points.

In December 1997, JSC Ukrinbank gained the status of the agent of the Government of Ukraine to service foreign credits issued under the guarantees of the Cabinet of Ministers of Ukraine in compliance with the Resolution of the Cabinet of Ministers of Ukraine dated by December 20, 1997 under # 1428.

Having gained the status of the agent of the Government of Ukraine on the restructuring of the Ukraine domestic debt within 1998 – 1999, and jointly with the investment bank Merrill Lynch, JSC Ukrinbank actively took part in the restructuring of the domestic state debt of Ukraine, as well as the restructuring of the foreign state securities in 1995 as the advisor of the Ministry of Finance of Ukraine.

In April 3, 2003 JSC Ukrinbank won the status of the authorized bank to service the funds of the State budget of Ukraine.

Since 2001, JSC Ukrinbank has performed the servicing of the fund “Understanding and Reconciliation” that is provided by the international agreement concluded amid Germany and Ukraine. It was paid more than EUR 19 million to 17.5 thousand victims of the Nazi persecution. Moreover, in accord with the decision of the Tender Committee of the Pension fund of Ukraine, Ukrinbank is an authorized bank to service pensioners’ accounts.  

Ukrinbank permanently implements new types of services, modifies traditional services, and develops and implements modern forms of services as well. Client service is considered to be a top priority.

It enables each enterprise and individual who has applied to the Bank for a service, to get specially tailored individual list of services that not only cut client’s costs, but also bolsters their financial growth.

The complex customer servicing has already proved successful. Today, Ukrinbank services more than 85 000 private and corporate clients that allows, the oldest in the country financial-credit institution, optimistically look into the future.

Under the resolution of the Extraordinary General Shareholders Meeting of JSC Ukrainian Innovative Bank, held in December 10, 2010 (the Protocol #2), it passed the decision to determine the type of Joint Stock Company Ukrinbank as a public joint stock company and changed its title to Public Joint Stock Company Ukrainian Innovative Bank.