On June 16, the NBU approved a package of resolutions necessary to launch banks of financial inclusion (BFI). From June 26, 2026 — the date when the corresponding law comes into force — the regulator will begin accepting applications for a limited banking license. But while the regulatory framework was being finalized, the market has already identified its first candidate.
What is a limited license and why is it needed
A bank of financial inclusion is not a full-fledged bank in the classical sense. It can open accounts, accept deposits, and conduct basic payments, but does not have the right to the full spectrum of banking operations. In return, it is not subject to part of the increased capital requirements that apply to universal banks.
The logic is simple: frontline and de-occupied territories are zones where there are no bank branches due to security risks, and mobile communications work unstably. A full-fledged bank won't go there — it's unprofitable. A BFI can go there because it uses existing infrastructure — post offices, shops, gas stations.
"Existing banks, postal operators, large retail networks, gas station networks, and other companies that already have experience serving large numbers of customers may be interested in obtaining a limited banking license."
Danylo Hetmantsev, author of the legislative initiative
Ukrposhta lobbied — Nova acts
The Verkhovna Rada adopted the law on BFI on June 3, 2025. Ukrposhta's General Director Ihor Smilyanskyy publicly welcomed this decision — the state operator had long promoted the idea of its own bank, but the NBU was previously against it.
However, while regulatory framework coordination was underway, the Nova group — owner of Nova Poshta and NovaPay — is in negotiations to purchase BTA Bank, the smallest financial institution in Ukraine with assets of 294.9 million hryvnias and a single office in Kyiv. According to sources in the financial market and at the NBU, the deal could be completed by the end of summer 2026.
Nova's strategy is to abandon BTA's full-fledged license and reformat it to a limited one. The estimated cost of the purchase is around 204 million hryvnias. Formally, the company has not yet submitted an application to purchase.
What this gives Nova — and what is missing from the law
For NovaPay, a banking license solves a specific problem: currently, the company sells its own bonds instead of deposits. A BFI will open the opportunity to directly attract funds from the population, reduce dependence on third-party banks, and develop a financial ecosystem — up to a full-fledged super-app.
- New payment and deposit products for clients in remote communities
- Direct liquidity management without intermediaries
- Entry into markets where it is unprofitable for classical banks to operate
- Potential claim for a full-fledged license in the future
At the same time, the law establishes no priorities for state operators. Ukrposhta, with its 11,000 offices across the country, will compete for a license on equal terms with private players — without any preferences for years of lobbying.
For non-compliance with special requirements, the NBU will be able to impose a fine of up to 1% of the bank's registered statutory capital, and systematic violations will be grounds for an unscheduled inspection.
If Nova Group completes the purchase of BTA by the end of summer and reformats the license — the first BFI in Ukraine will appear not where it was expected: not with a state seal, but with an orange logo.
