What Union Banka does

Union Banka d.d. Sarajevo is a commercial bank headquartered in Sarajevo, Bosnia and Herzegovina, founded in 1955 and operating today as the only majority state-owned commercial bank in the country, with 97.73% of shares held by the Federal Ministry of Finance of the Federation of BiH. The bank serves both retail (Stanovništvo / Fizička lica) and corporate (Pravna lica) customers through a network of 4 subsidiaries and 12 branches across the Federation of BiH, complemented by digital channels. Its core offerings span current and foreign currency accounts, term and open-ended savings, consumer and mortgage loans (including pensioner, diaspora, and 100% deposit-backed variants), Visa debit, credit, shopping/installment, prepaid, and business cards, and corporate services including short- and long-term financing, revolving credit, and documentary operations (guarantees, letters of credit, collections).

The bank's technology stack centers on three proprietary-feeling digital products: mUNION, a mobile banking application supporting biometric login, real-time transaction monitoring, domestic and international payments, QR-based eRačun bill payment (EPBiH, BH Telecom, OKI Upravitelj, KJKP Toplane), and a branch/ATM locator; eUNION, a 24/7 internet banking platform for retail and corporate customers that lowers payment transaction fees by up to 60–70%; and KVIKO, a peer-to-peer and QR payment service operated in partnership with Bamcard d.d. Sarajevo and interoperable with ASA Bank and BBI Bank ATMs. Union Banka monetizes through net interest income on loans and deposits, transaction and account-maintenance fees, bundled service packages (Union START at 5.99 KM/month, Union PLUS at 8.99 KM/month, Union MAXI at 12.99 KM/month, Sustainable at 4.00 KM/month, and a free Youth package), card issuance and annual memberships, trade finance fees, and agency commissions on government-program lending (FMERI, FZO FBiH, UNDP) where it acts as the on-lending vehicle for subsidized credit lines targeting energy efficiency, renewable energy, and environmental protection projects at rates as low as 0.00%. International settlement is handled via SWIFT (UBKSBA22) and a correspondent network spanning Privredna Banka Zagreb, KT Bank, LBBW, Bayerische LB, and HPB.

Name

Union Banka

Legal name

Union Banka d.d. Sarajevo

Website

https://unionbank.ba

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

251–500 employees

Short description

Union Banka d.d. Sarajevo is a state-owned (97.73% Federal Ministry of Finance) Bosnian commercial bank serving retail and corporate customers through 16 branches in the Federation of BiH and digital platforms (mUNION, eUNION, KVIKO), offering accounts, Visa cards, consumer and mortgage loans, and government-program lending.

Ownership category

akta.pro rank

Headquarters

HQ city

Sarajevo

HQ country

Bosnia & Herzegovina

HQ region

Europe

Offices16 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Union Banka generates revenue primarily through interest income on loans and credit products including consumer loans, mortgages, business loans, and overdraft facilities. The bank offers various lending products to both retail and corporate segments.
2. Fee and Commission Income: The bank earns fees for account maintenance, transaction processing, card issuance and membership, electronic banking subscriptions, and documentary operations (letters of credit, guarantees, collections). Fee schedules are published for both retail and corporate customers.
3. Service Package Subscriptions: Union Banka offers bundled service packages (Union START at 5.99 KM/month, Union PLUS at 8.99 KM/month, Union MAXI at 12.99 KM/month, Sustainable package at 4.00 KM/month, Youth package free) generating recurring monthly subscription revenue.
4. Card Operations: Revenue from issuance fees, annual memberships, and transaction processing on Visa debit, credit, shopping, and prepaid cards for both retail and business customers.
5. Deposit Taking and Savings Products: The bank accepts customer deposits (current, foreign currency, avista, term deposits, open savings) paying interest to depositors and using those funds for lending operations, with interest rate spreads as a core revenue driver.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Union Banka d.d. Sarajevo provides traditional commercial banking products and services to both individuals (Stanovništvo / fizička lica) and corporate/legal entities (Pravna lica) across the Federation of Bosnia and Herzegovina. Its portfolio spans current and foreign currency accounts, term and open-ended savings deposits, consumer and housing loans, working capital and investment financing, trade finance instruments, Visa-branded debit/credit/prepaid/installment/business cards, safe deposit boxes, and travel health insurance. Service delivery is enabled by the proprietary mUNION mobile app, eUNION 24/7 internet banking, the KVIKO instant P2P/QR payment platform, and a 4-subsidiary / 12-branch physical network.

Product overview

Union Banka d.d. Sarajevo is a commercial bank operating as the only majority state-owned commercial bank in Bosnia and Herzegovina. The bank offers a comprehensive suite of banking products and services through multiple channels including digital platforms (mUNION mobile banking, eUNION electronic banking), branch network, and third-party integrations. The core product portfolio encompasses: (1) Retail and corporate banking services (accounts, deposits, cards, loans) delivered via mUNION and eUNION digital platforms plus physical branches; (2) Service packages (Union START, Union PLUS, Union MAXI, Youth Package, Financial Inclusion Package) bundling current accounts, cards, overdrafts, and digital banking at tiered price points; (3) Consumer and mortgage lending including pensioner loans, energy efficiency loans, and replacement/refinancing loans; (4) Corporate financing including short-term and long-term loans, documentary services (guarantees, letters of credit, collections), and commissioned revolving fund loans (FMERI, Environmental Protection Fund); (5) VISA payment cards spanning debit, credit, shopping/installment, prepaid, and business variants; (6) Savings products including term deposits and open-ended savings; (7) Third-party integrated services including KVIKO (instant payments, ATM cash via code, mobile top-ups, QR payments), VISA payment network, and correspondent banking via SWIFT.

Differentiator

Problem solved

Functional benefit

Brands

• eUNION: Electronic banking platform for 24/7 access to accounts and financial transactions, available for both individuals and legal entities.
• mUNION
• KVIKO
• Union START
• Union PLUS
• Union MAXI
• Union održivi paket (Sustainable Package)
• UNION paket za mlade (UNION Youth Package)

Products and services

• mUNION Mobile Banking Mobile banking application that enables retail customers to manage accounts, view card transactions in real time, make domestic and international payments, apply for credit and card products, scan QR codes to pay bills (eRačun for EPBiH, BH Telecom, OKI Upravitelj, KJKP Toplane), and locate branches/ATMs without visiting a branch.
• eUNION Electronic Banking Internet banking platform available 24/7 providing account access, real-time financial transactions, product applications, direct communication with bank advisors, and technical-issue reporting with status tracking. Offered to both individuals and legal entities at reduced transaction fees relative to branch channels.
• Current Account (Tekući račun) Current account for retail customers (domestic and foreign individuals) enabling simple and fast transactions, with optional overdraft up to three months of average salary for salary-receiving customers on a revolving 12-month term with extension option.
• Transaction Account for Legal Entities (Transakcijski račun) Transaction account for legal entities (companies) supporting flexible fund management and transaction execution with free account opening and 11.50 KM monthly maintenance.
• Foreign Currency Account (Devizni račun) Foreign currency account for legal entities used for international inflows and international payment transactions; account opening and monthly maintenance are free.
• Term Deposit Savings (Oročena štednja) Term deposit allowing retail customers to deposit money in KM/EUR/USD for a predetermined period and earn interest income at tenor-tiered rates (KM/EUR 1-3 months 0.15% up to 36+ months 1.70%; USD 1-3 months 0.05% up to 36+ months 1.50%), paid monthly or at maturity.
• Open-Ended Savings (Otvorena štednja) Flexible open-ended savings product allowing unlimited deposits and partial withdrawals while maintaining a minimum balance, with interest rates ranging from 0.20% (12 months) to 0.90% (60 months) and a maximum deposit of 1,000,000 KM.
• Promotional Term Deposit (Vrijeme je na vašoj strani) Promotional fixed-rate term deposit in KM/EUR at 2.56% (13-24 months), 2.66% (25-36 months), and 2.76% (37+ months), with interest paid monthly or at maturity; promotion valid until 30.09.2026.
• Corporate Term Deposits Term deposits for legal entities (corporate customers) earning interest income on deposited funds, supporting corporate treasury and short-term cash management.
• Consumer Loans Portfolio Comprehensive consumer loan offering for retail customers including consumer cash loans, replacement/refinancing loans, 100% deposit-backed loans, energy efficiency loans, other-purpose loans, and supporting digital application through mUNION.
• Housing Loan (Stambeni kredit) Housing loan for the purchase and equipping of residential property with a maximum amount of 600,000 KM, repayment up to 25 years at a fixed interest rate. Optional combination with consumer credit, credit card, or overdraft under the Stambeni paket.
• Renovation and Adaptation Loan Loan for residential property renovation and adaptation, with maximum amount 30,000 KM and maximum repayment term of 10 years.
• Pensioner Loan (Kredit za penzionere) Specialized loan for senior citizens providing up to 50,000 KM with repayment until age 70, or up to 20,000 KM with repayment until age 75, secured with credit life insurance and a maximum term of 10 years.
• Consumer Cash Loan (Potrošački gotovinski kredit) Consumer cash loan providing quick and simple access to needed funds for retail customers, with online application available via mUNION.
• Replacement/Refinancing Loan (Zamjenski kredit) Loan for refinancing existing obligations with Union Banka and/or other banks/financial institutions, with a maximum amount of 50,000 KM, repayment up to 10 years, and 15% deposit or insurance package as security.
• 100% Deposit-Backed Loan (Retail) Cash loan for retail customers secured by 100% pledged term deposit, allowing customers to maintain savings discipline while accessing liquidity; maximum term 10 years.
• Energy Efficiency Loan (Residential) Loan for residential property reconstruction and adaptation with a focus on energy efficiency improvements, in cooperation with UNDP and the Government of the Federation of BiH.
• Other Purpose Loan (Kredit za ostale namjene) Flexible loan combining multiple purposes with optional partial cash disbursement, maximum amount 600,000 KM and repayment up to 25 years.
• VISA Classic Debit Card Debit card for current-account holders enabling 24/7 access to funds and contactless payments at POS terminals in BiH and internationally; annual membership 12 KM, no issuance fee for primary card.
• VISA Classic Credit Card VISA Classic credit card enabling payments and cash withdrawals at ATMs and POS terminals worldwide at 24 million merchant locations in 170 countries, with a maximum credit limit of 9,000 KM and 4% minimum monthly payment of utilized credit.
• VISA Classic Shopping Card VISA Classic installment shopping card that splits purchases and ATM withdrawals into 6-24 installments based on amount (up to 300 KM in 6; 300-1,000 KM in 12; 1,000-1,500 KM in 18; over 1,500 KM in 24), with minimum transaction 50 KM and maximum credit limit 10,000 KM.
• VISA Classic Prepaid Card Non-personalized VISA prepaid card that must be pre-loaded with funds, usable by minors (under 18) and ideal for school trips; 10 KM issuance and 10 KM annual membership (first year free).
• VISA Business Debit Card Business debit card linked to a company's transaction account, providing fast and easy access to business funds anytime and anywhere; 20 KM issuance fee and 20 KM annual membership per primary/additional user.
• VISA Business Charge Credit Card VISA Business Charge credit card for corporations with up to 45 days interest-free deferred payment, providing better control over business expenses; 50 KM issuance per corporate client and 50 KM annual membership.
• KVIKO Mobile Payment Service KVIKO is a mobile payment application enabling instant P2P transfers by phone number, code-based ATM cash withdrawal interoperable with Union Banka, ASA Banka, and BBI Banka ATMs, QR-code payments at merchants (e.g., Bingo supermarkets), and prepaid mobile top-ups for all BiH operators and OLX credits, delivered through the Bamcard platform.
• Short-Term Corporate Financing Short-term corporate financing facilities including working capital loans (export financing, loan buyout), revolving credit, account overdrafts, and 100% cash deposit-backed loans for legal entities, with repayment up to 12 months.
• Long-Term Corporate Financing Long-term corporate financing facilities including fixed-asset investment loans, permanent working capital investment loans, framework credits up to 5 years, guarantee/letter-of-credit frameworks up to 36 months, and long-term 100% deposit-backed loans.
• Bank Guarantees Issuance of performance and payment guarantees domestically and internationally, advising of guarantees from other banks, and guarantee activation, providing security instruments that protect creditors from non-performance risk.
• Letters of Credit (Akreditivi) Letters of credit issued as security and payment instruments in international trade, including advising of received letters of credit from foreign banks.
• Documentary Collection Services (Inkaso poslovi) Documentary collection services for international trade in which the exporter's bank presents financial and commercial documents to the importer for payment, acceptance, or other conditions.
• Letters of Intent (Pisma namjere) Binding and non-binding letters of intent issued at client request expressing willingness to perform certain actions or potential credit approvals.
• FMERI Revolving Fund Loans Commissioned lending program under agency agreements with the Federal Ministry of Energy, Mining and Industry (FMERI) Revolving Fund, providing fixed-interest-rate (0.4% p.a.) loans for renewable-energy self-generation projects (30,000-800,000 KM) and fixed-asset investments (100,000-1,000,000 KM), with 0.5% one-time processing fee and 24-60 month repayment.
• Environmental Protection Fund Revolving Loans (FZO) Subsidized 0.00% interest revolving loans for SMEs under agency agreement with the Fund for Environmental Protection of the Federation of Bosnia and Herzegovina (FZO), supporting water protection and waste-recycling projects; loans from 10,000 to 500,000 KM, repayment up to 7 years with up to 12-month grace period and 1.0% one-time processing fee.
• UNDP Energy Efficiency and Renewable Energy Loans for SMEs Subsidized credit line operated by Union Banka in cooperation with the Government of the Federation of BiH and UNDP, targeting energy efficiency, emission reduction, and renewable energy projects at SMEs; fixed 1.49% p.a. interest, 50,000-1,000,000 KM amounts, repayment up to 7 years with up to 12-month grace, and a 0.5% processing fee (0.00% for female-majority-owned/led SMEs).
• Safe Deposit Boxes (Sefovi) Safe deposit boxes for protecting valuable assets and documents, available at Union Banka's headquarters in Sarajevo and branches in Konjic and Travnik; rental pricing depends on box size and rental period per the published price list.
• Travel Health Insurance Travel health insurance covering vacations, winter holidays, or business trips abroad against accidents or illness, distributed through Union Banka's branch and digital channels.

Quantifiable outcome

• Up to 70% lower payment fees for electronic banking compared to standard branch rates
• +9 more outcomes

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core, supporting and minor.

• Federal Ministry of Energy, Mining and Industry (FMERI)coreStrategic or Co-development PartnerUnion Banka has agency agreements for implementing FMERI Revolving Fund credit lines for long-term financing of projects in 2025, aimed at improving and developing the economy of the Federation of BiH. Two projects: (1) Renewable energy for own electricity production, loans 30,000-800,000 KM at 0.4% interest; (2) Asset investment and equipment, loans 100,000-1,000,000 KM.
• Fund for Environmental Protection of the Federation of Bosnia and Herzegovina (FZO FBiH)coreStrategic or Co-development PartnerUnion Banka has agency agreements for the Environmental Protection Fund's Revolving Fund (RFZViRO) for financing waste recycling and water protection projects in 2025. Loans of 10,000-500,000 KM at 0.00% interest with repayment up to 7 years and up to 12 months grace period.
• UNDP Bosnia and Herzegovina (Razvojni program Ujedinjenih nacija)coreStrategic or Co-development PartnerUnion Banka partners with the Government of Federation BiH and UNDP to provide energy efficiency and renewable energy loans for small and medium enterprises. Fixed interest rate of 1.49% per annum, loan amounts 50,000-1,000,000 KM, repayment up to 7 years with up to 12 months grace period. Contributes to sustainable development goals and reduced emissions.
• Privredna Banka Zagreb d.d. (Croatia)supportingOthersPrimary correspondent bank for AUD, CAD, CHF, DKK, EUR, GBP, and NOK currencies. SWIFT: PBZGHR2X. Provides international payment routing for Union Banka's foreign currency transactions.
• KT Bank AG (Germany)supportingOthersCorrespondent bank for EUR currency. SWIFT: KTAGDEFF. Located in Frankfurt am Main, Germany. Supports EUR-denominated international transactions.
• Landesbank Baden-Wuerttemberg (Germany)supportingOthersCorrespondent bank for EUR (general) and USD (incoming only). SWIFT: SOLADEST. Located in Stuttgart, Germany. Supports EUR and USD international payment processing.
• Bayerische Landesbank (Germany)supportingOthersCorrespondent bank for EUR currency. SWIFT: BYLADEMM. Located in Munich, Germany. Supports EUR-denominated international transactions.
• Hrvatska poštanska banka d.d. (Croatia)supportingOthersCorrespondent bank for EUR currency. SWIFT: HPBZHR2X. Located in Zagreb, Croatia. Supports EUR-denominated international transactions.
• Visa InternationalcoreTechnology or IntegrationUnion Banka issues Visa-branded card products including Visa Classic debit, credit, shopping, and prepaid cards for retail customers, and Visa Business Charge and Visa Business debit cards for corporate customers. Cards are accepted at 24 million locations in 170 countries worldwide.
• Bamcard d.d. SarajevocoreTechnology or IntegrationBamcard d.d. Sarajevo operates the KVIKO mobile payment service's call center (available 24/7 at +387 33 652 888) and provides the technology platform for KVIKO Cash ATM withdrawals, KVIKO Instant P2P transfers, KVIKO PAY QR payments, and prepaid mobile top-up services.
• ASA Banka d.d. SarajevominorOthersATM network partner for KVIKO Cash service. Customers can withdraw cash using KVIKO one-time codes at ASA Bank ATMs in addition to Union Bank ATMs.
• BBI Banka d.d. SarajevominorOthersATM network partner for KVIKO Cash service. Customers can withdraw cash using KVIKO one-time codes at BBI Bank ATMs in addition to Union Bank ATMs.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• NLB Banka dd Sarajevo: Subsidiary of Slovenia's NLB Group offering full-service retail, SME and corporate banking in BiH, with correspondent and trade-finance capabilities comparable to Union Banka's. Comparable on customer segments and full product stack, differentiated by Slovenian parent backing and slightly larger corporate franchise.
• Sparkasse Bank dd Bosna i Hercegovina: Mid-sized BiH commercial bank (part of the Erste/Sparkasse group) offering retail deposits, consumer and mortgage lending, SME and corporate financing, and digital channels across BiH. Closely comparable on retail-and-SME banking focus, branch-and-digital hybrid distribution, and trade-finance offering within BiH.
• Intesa Sanpaolo Banka dd Bosna i Hercegovina: BiH subsidiary of Italy's Intesa Sanpaolo Group offering retail, corporate, and trade-finance banking with digital channels. Comparable on full-service commercial banking and trade-finance offering; differentiated by international parent capital and group-wide product platforms.
• UniCredit Bank dd Mostar: Major BiH commercial bank within the UniCredit group, providing retail deposits, mortgage and consumer lending, corporate banking, trade finance (LCs, guarantees), and digital banking in both BiH entities. Directly comparable on product scope, target customers, and pan-BiH distribution; differences lie in parent-group support and capital strength.
• Nova Banka dd Banja Luka: Domestic BiH commercial bank headquartered in Republika Srpska with retail and corporate banking, payments, and trade finance. Comparable on product breadth and BiH market focus; differs by operating primarily in RS rather than Federation of BiH.
• ASA Banka dd Sarajevo: Domestic BiH commercial bank with overlapping retail and corporate offering, plus an ATM-network partnership with Union Banka via the KVIKO Cash service. Directly comparable on mid-tier commercial banking scope, BiH deposit and lending franchises, and shared digital-payment infrastructure.
• Addiko Bank dd Sarajevo: Mid-tier retail and SME-focused bank in BiH (part of the Addiko Group, formerly Hypo Alpe Adria) with consumer lending and digital banking emphasis. Comparable on consumer finance and digital-channel mix, somewhat less direct on state-driven program lending.
• Raiffeisen Bank dd Bosna i Hercegovina: Largest commercial bank in BiH by assets, offering the same full-stack retail, SME, corporate, trade-finance, and correspondent-banking product suite as Union Banka, with both physical and digital channels across Federation of BiH and Republika Srpska. Most directly comparable on customer segments, product breadth, and channel mix, though at materially larger scale.
• ProCredit Bank dd Bosna i Hercegovina: SME-focused commercial bank in BiH part of the Germany-based ProCredit group, with above-market exposure to small-business lending and ESG/government-backed credit lines. Closely comparable to Union Banka's partnership-driven, SME-and-environmental lending positioning.

Broad incumbents

• Zagrebačka banka dd: Largest Croatian commercial bank (UniCredit group) operating retail, corporate and investment-banking franchises; relevant as one of Union Banka's primary EUR correspondent banks for cross-border payments and as a regional benchmark for pricing and product structure. Not a direct competitor in BiH but provides shared infrastructure and a regional comparable.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/UnionBanka
• LinkedInlinkedin.com/company/union-banka-d-d-sarajevo

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Union Banka