Ukrainian IBOX BANK increases the amount of its authorized capital and becomes a second-tier bank

Ukrainian IBOX BANK

The Committee on Supervision and Regulation of Banks and Payment Systems of the National Bank of Ukraine confirmed the implementation of all economic standards by IBOX BANK, which allow the financial institution to become a second-tier bank. This information was published after the approval of the new edition of the charter of IBOX BANK by the National Bank. The charter was updated in connection with the increase of the authorized capital to the amount of UAH 741 million.

“Despite the war, the bank capitalizes all income and becomes a second-tier bank. By making such investments we contribute to the stability of Ukraine’s economy in the conditions of a military state. By choosing a proper sequence of implementation of our strategy and scaling we are able to show significant growth in all major indicators. Over the past few years, IBOX BANK’s assets have grown almost fourfold, which contributed to the growth and transformation into a medium-sized bank,” said Alona Shevtsova, shareholder and Chairman of the Supervisory Board of IBOX BANK.

On February 28, 2022, the shareholders of IBOX BANK invested more than 500 million UAH in order to support the development of the bank. Such an increase in the authorized capital of IBOX BANK confirms the unwavering faith of shareholders in the economy of Ukraine, and the stability of the banking system, which will become the backbone of the country’s renewal after Ukraine’s victory over the army of the invader.

“Despite the open military aggression against Ukraine, as well as a wide range of military actions, IBOX BANK conducts full-fledged activities in extremely difficult conditions. The shareholders of IBOX BANK believe in Ukraine and in our victory over the enemy,” said Petr Melnyk, Chairman of the Board of IBOX BANK.

IBOX BANK has been operating in the Ukrainian financial market since 1993. Already by the end of 2021, the National Bank of Ukraine named IBOX BANK one of the most profitable banks in Ukraine.

Over the past year, the loan and investment portfolio showed an increase of 67%, while the balance sheet capital increased by 136%. As a result, all financial indicators increased by 378% at the end of last year (compared to 2020).

We would like to remind the audience that last year IBOX BANK continued to expand its branch network, and offered new card products, including solutions developed with Moneyveo. Apple Pay, Google Pay, and Garmin Pay contactless payments have been launched together with Visa.

In December 2021, IBOX BANK launched a mobile application for smartphones on Android and iOS.

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