FinTech company Activitis, which develops embedded financial solutions for businesses, is a potential buyer for Ukrainian private bank Bizbank, Forbes.ua reported.
If the deal goes through, it would be another M&A transaction in Ukraine’s banking sector in 2026, a sign of a busy market despite the war.
The Antimonopoly Committee of Ukraine (AMCU) approved the acquisition of Bizbank by two unnamed Ukrainian citizens on Aug. 13. The buyers’ identities remain confidential.
Bizbank’s beneficial owners include Serhii Lahur, co-owner of the major fuel network WOG, alongside stakeholders of the former Continuum holding company. The bank serves retail and corporate clients.
Its revenues before tax totaled Hr.52.8 million ($1.23 million), and Hr.37.5 million ($872,100) after tax, placing it 36th in the system by both revenue and net profit. It also ranks 36th place by capital size, at Hr.789.2 million ($18.4 million), according to National Bank of Ukraine data for 2025.
Activitis reported Hr.809.5 million ($18.22 million) in revenue and Hr.143.4 million ($3.23 million) in net profit for the latest reporting period, according to the company’s financial statement on its website.
Both Bizbank and Activitis declined to comment on the potential deal to Forbes.ua.
National Bank of Ukraine (NBU) First Deputy Governor Sergiy Nikolaychuk has said that the 2026 M&A boom in Ukraine’s banking sector differs from the previous wave of foreign bank expansion in 2005-2008, when international lenders entered Ukraine bringing their own technologies and corporate governance systems. This time, he said, foreign investors are coming to Ukraine specifically for the technological expertise already developed within the country’s banking sector.
In January, Estonia’s fintech group Iute Group acquired Iute Bank, a bridge bank created from the assets of the failed RWS Bank – one of the few foreign entries into Ukraine’s banking market since the start of Russia’s full-scale invasion.
The deal followed the National Bank’s declaration of RWS Bank as insolvent in November 2025 and its subsequent resolution through the Deposit Guarantee Fund’s bridge-bank mechanism.
Separately, French Crédit Agricole Ukraine announced on March 11 that it had signed an agreement to acquire up to a 100% stake in Bank Lviv. Historically a small regional lender, the western Ukraine-based bank has emerged as a key partner for international financial institutions (IFIs) since 2022, leveraging its safer location away from major hostilities to facilitate lower-risk transactions.