The Deposit Guarantee Fund for Individuals (FGVFO) has officially completed the temporary administration of the joint-stock company “First Investment Bank” (PINbank). The Polish fintech company UAB ZEN.COM is now the owner of 100% of the bank’s shares. At the same time, a transitional period with temporary financial restrictions has been introduced for the clients of the financial institution.
This is reported by Finway
Transition Conditions and Investment Phase
According to the agreements, the Polish investor has one month to make investments in PINbank, as well as to bring the bank’s capital and liquidity in line with the requirements of the National Bank of Ukraine. After this, the regulator will conduct a special inspection to determine the future of the full restoration of PINbank’s obligations to depositors and creditors.
Temporary Restrictions for Clients
Currently, the terms of existing contracts for the bank’s clients remain unchanged; however, until the completion of the recapitalization, temporary restrictions on fund withdrawals are in place. In particular, payments are only possible for current and card accounts, as well as deposits (including deposits of individual entrepreneurs) that expired before February 19, 2026.
At the same time, account holders can use and transfer all funds that have been credited to the accounts of individuals and legal entities after the introduction of temporary administration without restrictions. Additionally, all deposits of individuals during the state of martial law are covered by a 100% state guarantee.
“The change of ownership does not cancel or alter the terms of existing contracts for clients. However, during the recapitalization period, temporary restrictions on fund withdrawals will be in effect. In particular, during this period, payments will only be available for current and card accounts, as well as for deposits (including those of individual entrepreneurs) that expired before February 19, 2026.”
It should be noted that the National Bank of Ukraine recognized PINbank as insolvent on February 19, 2026, due to prolonged risky activities and failure to meet the minimum regulatory capital requirements. In early April 2026, the Polish company ZEN.COM emerged as the winner of the open competition to purchase the bank.