What Ukrgasbank does

Ukrgasbank (operating under the UGB — Eco Bank of the Country brand) is a Ukrainian universal bank founded in 1993 and 94.94% owned by the State of Ukraine via the Ministry of Finance. Ranked among the top-5 Ukrainian banks by assets, it serves approximately 900,000 retail individuals, 46,000+ corporate and SME clients, and municipal/communal-sector borrowers through a network of 206 branches in 152+ cities, 23 self-service terminals, and digital channels including the Eco-bank online platform, a mobile banking app, open banking APIs, video verification, and NFC payments via Apple Pay, Google Pay, SwatchPay, Garmin Pay, MiPay, and UGB Tap&Pay.

The bank's product portfolio spans retail deposits and consumer credit (ECO Deposits, ЕКО-кредитка, Energy Independence Loans with 25% cashback), government-subsidized mortgages under the єОселя program (rates as low as 3% for mobilized military), the 5-7-9% concessional SME loan program, SME trade acquiring, agribusiness and energy-efficiency financing, and a market-leading trade finance book exceeding UAH 15.6 billion issued under EBRD TFP and IFC GTFP. It also distributes specialized housing programs (СвітлоДІМ, ВідновиДІМ, ГрінДІМ), humanitarian demining loans, and a financial leasing line.

Revenue is generated primarily through net interest income on the lending/deposit book, complemented by transaction fees on cards, FX conversion across 20+ currencies and precious metals via SWIFT (UGASUAUK), trade finance issuance and confirmation fees, fee income on payment and cash services, and margin/advisory fees on green project financing. Ukrgasbank operates NBU Banking License No. 123, is rated AA+(ukr) at the national scale by Fitch, holds PCI DSS and ISO 27001 certifications, and positions itself as Ukraine's primary eco-bank and a key channel for international development finance (EIB, EBRD, EFSE, IFC, EIFO, EU4Business) into Ukrainian SME, municipal, and reconstruction lending.

Name

Ukrgasbank

Legal name

PUBLIC JOINT-STOCK COMPANY JOINT STOCK BANK "UKRGASBANK"

Website

https://ukrgasbank.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ukrgasbank (UGB) is a 94.94% state-owned Ukrainian universal bank serving ~900,000 retail and 46,000+ corporate/SME and municipal clients, distinguished by its eco-banking mandate and role as a primary conduit for EIB, EBRD, and EFSE concessional lending into green and reconstruction finance.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Digital Retail Banking (Online & Mobile) (FSABAAAF)

akta.pro secondary industry

SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations) (FSAGAAAI)

Keywords

• Retail banking services
• Corporate banking
• Green finance
• Trade finance
• SME lending

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Net Interest Income (Lending & Deposits): Ukrgasbank generates the majority of its revenue from the spread between interest earned on loans (corporate, SME, retail mortgages, agribusiness, energy efficiency) and interest paid on deposits. The bank participates in government support programs (5-7-9% concessional loans, єОселя mortgage program) and international development finance programs that subsidize lending rates for priority sectors including agribusiness, energy, and war-affected enterprises.
2. Trade Finance & Documentary Operations: The bank is a market leader in trade finance (portfolio exceeding UAH 15.6 billion as of Q1 2026), offering letters of credit, guarantees, documentary collection, and trade financing for exporters and importers. Revenue is generated through issuance fees, acceptance commissions, and confirmation fees on trade instruments.
3. Fee & Commission Income: Fees from payment services (cash payments, transfers, currency exchange), card operations (issuance, maintenance, merchant acquiring), settlement and cash services for corporates and SMEs, securities brokerage, depositary services, financial leasing, and insurance product distribution through partnerships.
4. Foreign Exchange Operations: Revenue from currency conversion services for retail and corporate clients, including proprietary FX trading and arbitrage, supported by a correspondent banking network covering 20+ currencies and precious metals.
5. Green / ESG-Linked Products: Specialized financing for renewable energy (solar, wind, biogas), energy efficiency retrofits, and eco-projects for both retail and corporate clients. Revenue includes origination fees, margin income, and advisory fees on green project financing, often co-financed with international partners (IFC, EIB, EBRD).

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

Ukrgasbank operates as a universal bank offering retail deposits, consumer and mortgage loans, payment cards and digital banking; SME and corporate credit, trade finance (letters of credit, guarantees), agribusiness financing, and municipal infrastructure lending; plus specialized green/eco products including energy independence loans, solar and energy efficiency project financing, and distribution of government-subsidized programs (5-7-9%, єОселя). The bank distributes these products through 206 branches, 23 self-service terminals, the Eco-Bank Online digital platform, and partnership channels with EIB, EBRD, EFSE, IFC, and YASNO.

Product overview

Ukrgasbank (UGB) is a universal bank with a primary focus on green/eco finance, ranked among Ukraine's top-5 banks by assets. The bank operates a multi-segment platform serving approximately 900,000 individuals and over 46,000 corporate and SME customers through 206 offices. The product portfolio includes: (1) Retail banking with deposits (ECO deposits, currency deposits), consumer credits (auto, mortgage via єОселя program, energy independence loans), payment cards (ECO credit card, premium VISA/Mastercard), and digital banking (Eco-Bank Online, ECO Boom 24/7); (2) SME/Corporate banking with specialized credit programs (5-7-9% concessional loans, agribusiness financing, energy efficiency financing, solar energy financing via YASNO partnership), trade finance services (documentary letters of credit, guarantees, trade financing with UAH 15.6bn+ portfolio), and merchant acquiring (UGB Tap&Pay); (3) Housing programs including GreenDIM, RestoreDIM, and SvitloDIM for energy efficiency and restoration; (4) International financing products backed by EIB, EBRD, EFSE, and other multilateral institutions. The bank differentiates through its eco-banking positioning, offering green financial products and sustainable development financing since 2016.

Differentiator

Problem solved

Functional benefit

Products and services

• ECO Deposits (ЕКО-депозит) Savings deposit products for individual clients linked to the bank's green/eco positioning, available in UAH and foreign currency variants (including USD ECO Deposit).
• Energy Independence Loans (Кредит «ЕнергоНезалежний») Consumer loans for individuals to finance energy efficiency upgrades including solar panels, heat pumps, and other energy-saving equipment. Includes a 25% cashback variant (Energy Independence 25% Cashback) for qualifying purchases.
• ECO Credit Card (ЕКО-кредитка) Credit card product for retail customers tied to the bank's eco-banking positioning, offering revolving credit lines and card-based payments.
• єОселя State Mortgage Program Government-subsidized mortgage program distributed by Ukrgasbank, offering preferential interest rates (as low as 3% for mobilized military, standard market rates for general applicants) to Ukrainian citizens for housing purchase.
• 5-7-9% Concessional Loan Program State-subsidized investment loans for small and medium businesses at effective interest rates of 5%, 7%, or 9% per annum depending on business size, sector, and eligibility criteria. Extended until March 2027 with Partial Credit Guarantee Fund covering up to 60% of loan amounts.
• Agribusiness Financing (Кредитування агробізнесу) Specialized credit programs for agricultural producers covering working capital, agricultural machinery, crop production, livestock modernization, and biofuel/biogas projects.
• Trade Finance (Торговельне фінансування) Documentary operations and trade finance services for exporters and importers, including letters of credit, guarantees, documentary collection, and trade financing instruments. Portfolio exceeds UAH 15.6 billion as of Q1 2026, making Ukrgasbank the market leader in Ukraine trade finance.
• Solar Energy Financing (Швидке фінансування СЕС) Fast-track SME financing for solar power stations delivered in partnership with YASNO energy company, enabling quick deployment of renewable energy capacity.
• Energy Efficiency Financing (Кредитування енергоефективності) SME credit programs supporting energy efficiency investments and energy-saving retrofits at the business level.
• ECO Boom 24/7 (ЕКО БУМ 24/7) 24/7 corporate internet-banking platform providing electronic banking services for business clients, including payments, account management, and transaction initiation.
• Eco-Bank Online Retail online and mobile banking platform for individual customers offering remote account management, payments, deposits, loan applications, digital cards, and video verification onboarding.
• UGB Tap&Pay Contactless merchant payment solution enabling small merchants to accept NFC tap-to-pay transactions via smartphone or card.
• GreenDIM Program (Програма «ГрінДІМ») Housing energy efficiency program providing financing for apartment building associations (OSBB) to undertake green retrofits and energy-saving improvements.
• RestoreDIM Program (Програма «ВідновиДІМ») Financing program for apartment buildings (OSBB) damaged by war to support restoration and reconstruction works.
• SvitloDIM Program (Програма «СВІТЛОДІМ») Housing program providing lighting and energy efficiency upgrades for residential buildings, focused on the Kharkiv region.
• Humanitarian Demining Financing (Гуманітарне розмінування земель) Specialized SME financing supporting humanitarian demining of agricultural lands to enable safe agricultural operations in previously war-affected areas.
• Premium Banking (Premier Banking) Premium/VIP banking service for high-net-worth retail customers featuring dedicated relationship managers, premium card packages, and priority servicing.
• Corporate Banking Services Comprehensive banking services for corporate clients including deposits, credit facilities, settlement and cash services, securities operations, trade finance, financial leasing, currency operations, and salary projects.
• SME Banking Services Banking services for SMEs including specialized credit programs (5-7-9%, agribusiness, energy efficiency, solar financing), trade acquiring, documentary operations, and account services.
• MSME Financing Program with Grant Component SME lending program combining EFSE credit-line financing with grant funding for micro and small enterprises, targeting agricultural producers, war-affected businesses, and inclusive entrepreneurship (women, youth, veteran-owned).
• EIB SME and Energy Financing Package (€120 million) EIB-funded financing package providing SME lending capital and energy project financing, leveraging a portfolio guarantee mechanism to unlock additional SME lending.
• EFSE €20 Million SME Credit Line EFSE-backed long-term credit line providing local-currency (UAH) financing to SMEs in war-affected regions and to vulnerable entrepreneurial groups, supporting recovery and resilience.

Quantifiable outcome

• Market leader in Ukraine trade finance with UAH 15.6+ billion portfolio as of Q1 2026, recognized by EBRD as 'Most Active Issuing Bank in Ukraine' for 5 consecutive years
• +7 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature6 records

Scale indicators14 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Ukreximbank: Other major Ukrainian state-owned bank (100% state-owned) operating as a universal commercial bank with a strong international finance and trade finance mandate. Ukreximbank co-receives EIB facilities with Ukrgasbank (e.g., the €100M November 2025 EIB resilience tranche) and serves as its closest analog in customer base, development finance channeling, and policy role.
• Oschadbank: Largest state-owned bank in Ukraine and a direct competitor in universal retail and corporate banking, government program distribution, and SME lending. Oschadbank participates in the same DTEK energy storage consortium as Ukrgasbank and competes for єОселя, 5-7-9%, and municipal deposit/credit mandates.
• Raiffeisen Bank Ukraine: Universal commercial bank in Ukraine, subsidiary of Austrian Raiffeisen Bank International, serving retail, SME, and corporate customers with similar FX, trade finance, and digital banking products. Comparable in scale to Ukrgasbank and one of the strongest foreign-affiliated competitors.
• Kredobank: Ukrainian universal bank majority-owned by Poland's PKO Bank Polski, serving retail, SME, and corporate clients. Kredobank corresponds with Ukrgasbank (referenced for CZK operations in Lviv) and competes in similar segments including SME finance and FX.
• FUIB (First Ukrainian Investment Bank): Major Ukrainian universal bank offering retail, SME, and corporate banking. FUIB participates in the same DTEK energy storage consortium with Ukrgasbank and Oschadbank, making it a direct competitor in green/energy infrastructure financing.
• ProCredit Bank Ukraine: Ukraine-focused bank within the ProCredit Group, specializing in SME and green/sustainable finance. The closest peer to Ukrgasbank's "eco-bank" mandate, competing for environmentally-themed SME lending and development finance channeling (e.g., EBRD facilities).
• UKRSIBBANK: Top-10 Ukrainian universal bank, subsidiary of BNP Paribas, offering retail, SME, and corporate services. Comparable in customer base composition and product breadth, with similar trade finance and payment capabilities as Ukrgasbank.
• Alfa-Bank Ukraine: Universal Ukrainian bank (now under local ownership after the 2023 sanctions-driven restructuring of the former Alfa-Group link) competing directly for retail, SME, and corporate customers, deposits, and payment products.

Broad incumbents

• PrivatBank: Largest Ukrainian bank by retail customers and assets, providing direct competition across deposits, payments, and SME lending. While not government-owned, PrivatBank sets the competitive floor on pricing and digital UX in the segments where Ukrgasbank operates.

Emerging players

• Triodos Bank: European pioneer in sustainable/eco banking. Triodos provides a strategic comparator for the "Eco Bank of the Country" brand positioning, ESG product design, and growth playbook in green deposits, sustainable SME lending, and impact reporting.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xfacebook.com/ukrgasbank
• YouTubeyoutube.com/@Ukrgasbank
• Facebookfacebook.com/ukrgasbank
• LinkedInlinkedin.com/company/ukrgasbank
• Instagraminstagram.com/ugb_ecobank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds6 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ukrgasbank