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Representative from the Iute Group signs an agreement with Ukrainian partners
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Small Estonian fintech to take on big Ukrainian banking sector

by Luca Léry Moffat

Ukraine's wartime banking sector will get a new player after an obscure fintech's bid to enter the country's market was finalized on Jan. 15. Iute Group, headquartered in Estonia, signed the final stage of acquiring a Ukrainian banking license during an upbeat press conference held in Kyiv on Jan. 15. It's reportedly the first foreign bank to enter Ukraine since 2021. "Since 2008, it's pretty much been only one direction — foreign banks leaving the country," Mykhaylo Demkiv, financial analyst

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Thursday, January 15

Ukraine war latest live: 70 Russian soldiers 'destroyed' during assault near Kharkiv, Khartiia claims in new video

This is Chris York reporting from Kyiv on day 1,422 of Russia’s full-scale invasion of Ukraine. Today's top story so far: A large group of Russian soldiers crossing snowy ground north of Kharkiv was obliterated by drones, artillery and infantry, Ukraine's Khartiia Brigade said on Jan. 15, killing around 70 of them. The Khartiia Brigade repelled an attempted assault by the Russian Federation and destroyed about 70 Russian occupiers," the unit said in a post on YouTube. "For a week, Russian oc

Small Estonian fintech to take on big Ukrainian banking sector

Ukraine's wartime banking sector will get a new player after an obscure fintech's bid to enter the country's market was finalized on Jan. 15. Iute Group, headquartered in Estonia, signed the final stage of acquiring a Ukrainian banking license during an upbeat press conference held in Kyiv on Jan. 15. It's reportedly the first foreign bank to enter Ukraine since 2021. "Since 2008, it's pretty much been only one direction — foreign banks leaving the country," Mykhaylo Demkiv, financial analyst

Representative from the Iute Group signs an agreement with Ukrainian partners

The Ukrainian war cemetery that can't stop growing

At the cemetery historically known as the Field of Mars, a sea of flags snap and ripple in the wind, and names appear faster than the city can make space for them. Photographer Anastasiia Smolienko, who returns here several times a month, says, “This is a place where you immediately see the price of this war, of Ukraine’s resistance.” Despite the heavy weight of the loss it represents, the cemetery is also a measure of dignity for many of Lviv’s local residents. Smolienko describes how farewel

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The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.

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