What IndustrialBank does

IndustrialBank (АКБ «ІНДУСТРІАЛБАНК») is a Ukrainian universal joint-stock commercial bank founded in 1990 and headquartered in Kyiv, operating under NBU Banking License No. 126 (dated 12.10.2011) and a member of the Deposit Guarantee Fund. The bank serves four primary customer segments — retail individuals, small business/FOPs, corporate clients (including agricultural, railway-related, and municipal entities), and financial institutions requiring interbank services — through a network of more than 15 branches across major Ukrainian cities including Kyiv, Zaporizhzhia, Dnipro, Kharkiv, Lviv, Odesa, Sumy, Kremenchuk, and others. IndustrialBank is publicly listed on the PFTS exchange under ticker INDB and employs between 1,001 and 5,000 staff.

The bank's product portfolio spans Visa and MasterCard payment cards across multiple tiers (Basic to Infinite, issued in UAH, USD, and EUR); retail and corporate deposits including floating-rate products indexed to NBU rates and gold-denominated accounts; consumer and mortgage lending up to UAH 15 million; business financing including state-subsidized "Accessible Credits 5-7-9%" SME lending; international and domestic money transfers via Western Union, MoneyGram, RIA, SWIFT, and MY TRANSFER; securities brokerage and depository services; precious metals (gold bars, Archangel Michael investment coins); safe deposit boxes; acquiring services; and documentary operations including letters of credit and guarantees. Underlying technology centers on the proprietary Industrial24 web and mobile platform (iOS and Android), which supports account opening, deposits, payments, currency exchange, transfers via phone number, and card management; 2025 enhancements added Diia-based digital onboarding, in-app currency exchange, and NFC card digitization for contactless payments on Android smartphones, with Apple Pay and Google Pay integration layered on top. The bank also holds multiple NSSMC licenses for securities and depository activities, including License No. 409 (2019) authorizing custody of pension fund and investment fund assets.

IndustrialBank operates a traditional universal banking revenue model across six streams: (1) net interest income from loans and deposits, (2) commission income from cards, transfers, and cash operations, (3) securities operations revenue from brokerage, dealer, and depository services, (4) precious metals sales and storage, (5) leasing income from bank-owned real estate and movable property, and (6) correspondent banking fees. Pricing is tier-based across customer segments, with card issuance fees ranging from UAH 50 (Basic) to UAH 6,500 (Visa Infinite) and business RKO packages starting at UAH 30/month. Go-to-market combines branch-based sales for corporate and SME clients with self-service digital channels for retail, supported by an active presence on YouTube, Telegram, Facebook, and Instagram, plus international correspondent relationships with Raiffeisen Bank International, UniCredit Bank Austria, and Bank of Communications across 16 currencies.

Name

IndustrialBank

Legal name

АКБ «ІНДУСТРІАЛБАНК»

Website

https://industrialbank.ua

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

IndustrialBank is a Ukrainian universal joint-stock commercial bank offering retail, SME, corporate, and interbank banking services through 15+ branches and the Industrial24 digital platform, serving individuals, businesses, and financial institutions across Ukraine.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Consumer & Retail (CPG, Food, Apparel) (FSABACAM)

akta.pro secondary industry

Import & Buyer Finance (Import Loans, Trade Loans) (FSABAHAH)

Keywords

• Retail banking services
• Corporate banking solutions
• Payment card services
• Mortgage and consumer lending
• Digital banking platform

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Interest earned on loans (consumer credits, mortgages, business loans) and interest paid on deposits. Floating rate deposits linked to NBU discount rate and CD certificates.
2. Commission Income: Fees from payment card issuance and maintenance, money transfers (SWIFT, Western Union, MoneyGram, RIA), cash transactions, settlement services, and forex operations
3. Securities Operations: Brokerage, dealer, and depository services for securities (government bonds, corporate bonds, shares, investment certificates). Depository services for pension funds and investment funds.
4. Precious Metals: Sale and purchase of gold bars, investment coins, current accounts in gold, and safe deposit services
5. Leasing Income: Financial leasing of bank-owned real estate and movable property
6. Correspondent Banking: Interbank operations including currency trading, resource operations, REPO operations, and correspondent account services

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

IndustrialBank is a Ukrainian commercial bank that delivers a full suite of retail and corporate banking products, including payment cards (Visa, MasterCard), deposits, consumer and corporate credits, mortgages, money transfers, securities operations, depository services, precious metals, and safe deposit boxes. It augments these traditional services with digital channels such as the Industrial24 online platform, GSM-banking, and NFC-based card digitization.

Product overview

IndustrialBank is a Ukrainian commercial bank offering a comprehensive portfolio of banking products and services. The core offerings include payment cards (Visa and MasterCard in multiple tiers from standard to infinite), deposits (retail and corporate with various terms and interest options), and credit products (consumer loans, mortgages, overdrafts, and business financing). Supporting services include Industrial24/Industrial24 Business mobile and web banking platforms, GSM banking, securities and depository services, precious metals trading, safe deposit boxes, money transfers (Western Union, MoneyGram, RIA, SWIFT, MY TRANSFER), acquiring services, documentary operations, and interbank market operations. The bank serves retail customers, small businesses, and corporate clients, as well as financial institutions. Key digital channels include the Industrial24 mobile app with NFC card digitization, Apple Pay and Google Pay integration, and online banking platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Industrial24: Online banking platform for individuals providing online payments, deposits, currency exchange, and operation history
• Industrial24 Business
• GSM-банкінг

Products and services

• Payment cards (Visa, MasterCard) Payment cards issued on Visa and MasterCard networks for retail and corporate customers, supporting day-to-day transactions, withdrawals, and online payments.
• Deposits Term and on-demand deposit products for retail and corporate customers, providing interest-bearing cash management.
• Credits and loans Consumer and corporate credit and loan facilities for individuals and businesses, supporting financing needs from personal use to working capital.
• Mortgages Mortgage lending products for retail customers financing residential property purchases.
• Money transfers Domestic and cross-border money transfer services for retail and corporate customers.
• Securities operations Brokerage and securities operations services for clients trading and holding securities.
• Depository services Custody and depository services for securities held on behalf of clients.
• Precious metals Buying, selling, and safekeeping of precious metals for retail and corporate clients.
• Safe deposit boxes Rental of safe deposit boxes for secure storage of valuables and documents at bank branches.
• Corporate banking Corporate banking services for businesses, including transactional banking, lending, and treasury-related products.
• Industrial24 online banking Proprietary Industrial24 online banking platform enabling customers to access banking services digitally.
• GSM-banking GSM-based mobile banking service that allows customers to conduct banking operations via mobile devices.
• Card digitization (NFC) Card digitization service using NFC technology that enables contactless transactions via mobile devices.

Quantifiable outcome

• Deposit protection up to 100% via FGVFO
• +4 more outcomes

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Visa InternationalcoreTechnology or IntegrationPrincipal Member of Visa International payment system. Issues Visa-branded cards (Business, Classic, Gold, Platinum, Infinite) and enables international payment processing. Registered with NBU since 10.02.2010.
• MasterCardcoreTechnology or IntegrationPrincipal Member of MasterCard payment system. Issues MasterCard-branded cards (Debit Standard, Virtual, Standard, Gold, Platinum) and enables international payment processing. Registered with NBU since 10.02.2010.
• Western Union Network (France), SAScoreChannel Partner/ Reseller/ DistributorGlobal money transfer system with 550,000+ service points in 200+ countries. IndustrialBank serves as agent for sending and receiving international remittances in USD, EUR, UAH. Registered with NBU since 21.08.2018.
• MoneyGram Payment Systems, Inc.coreChannel Partner/ Reseller/ DistributorGlobal money transfer system with 350,000+ branches in 200 countries. Supports cross-border remittances in USD and EUR. Registered with NBU since 07.06.2018.
• RIA (Dandelion Payments, Inc.)coreChannel Partner/ Reseller/ DistributorGlobal money transfer network with 500,000+ service points in 165 countries. Subsidiary of Euronet Worldwide. Registered with NBU since 06.06.2018.
• MY TRANSFER (Oschadbank)minorChannel Partner/ Reseller/ DistributorDomestic instant cash transfer system with 4,263+ service points in Ukraine. Operated by Oschadbank. Transfer currency: UAH only. Registered with NBU since 24.10.2018.
• National Bank of Ukraine DepositorycoreStrategic or Co-development PartnerCentral securities depository for Ukraine. IndustrialBank cooperates with NBU Depository for securities operations as a depository institution.
• PJSC "National Depository of Ukraine"coreStrategic or Co-development PartnerUkrainian central depository. IndustrialBank works with NDU for securities settlement and depository services.
• PARD (Professional Association of Capital Market and Derivatives Participants)minorStrategic or Co-development PartnerProfessional association in Ukraine's capital markets. IndustrialBank is a member of PARD as a depository institution.
• National Securities and Stock Market Commission (NSSMC)coreOthersUkrainian financial regulator. Issues licenses for professional securities activities (brokerage, dealer, underwriting) and depository services. License No.409 from 30.07.2019.
• Business Development FundcoreStrategic or Co-development PartnerGovernment program administrator for Accessible Credits 5-7-9%. IndustrialBank participates as partner bank for lending under this state support program for SMEs.
• SWIFTcoreTechnology or IntegrationInternational interbank financial telecommunications system for global money transfers. Enables international wire transfers to any country for individuals and businesses.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• OTP Bank Ukraine: Ukrainian subsidiary of OTP Group (Hungary). Comparable on universal retail and corporate banking offerings, card issuance, and digital channels in the Ukrainian market.
• Credit Agricole Bank Ukraine: Ukrainian subsidiary of Crédit Agricole Group. Direct peer offering retail deposits, payment cards, agribusiness lending, and corporate banking - closely overlapping IndustrialBank's product set.
• Privatbank: Ukraine's largest privately-owned bank and dominant retail player. Direct peer given overlapping retail deposits, payment cards, consumer lending, and digital banking proposition in the same Ukrainian market.
• Oschadbank: Ukraine's largest state-owned universal bank with nationwide branch network. Directly comparable as a full-service retail, corporate, and SME bank serving Ukrainian consumers and businesses with deposits, lending, cards, and money transfers.
• Sense Bank (formerly Alfa-Bank Ukraine): Privately-owned Ukrainian universal bank offering retail and corporate products. Direct peer competing for the same retail deposits, cards, and SME financing wallet share in Ukraine.
• Kredobank: Ukrainian bank controlled by PKO Bank Polski. Comparable as a mid-sized universal bank with retail deposits, cards, consumer credit, and SME lending.
• Raiffeisen Bank Aval: Ukrainian subsidiary of Raiffeisen Bank International. Direct peer as a universal bank offering retail deposits, cards, mortgage lending, corporate banking, and money transfers to Ukrainian customers.
• Ukreximbank: State-owned Ukrainian bank focused on corporate and trade finance. Comparable through its correspondent banking, documentary operations, and corporate credit offerings overlapping with IndustrialBank's institutional segment.
• Pravex Bank: Mid-sized Ukrainian universal bank (Intesa Sanpaolo group). Comparable as a Ukrainian bank offering retail deposits, cards, consumer credit, and SME banking products to overlapping customer segments.
• First Ukrainian International Bank (FUIB / PUMB): Major privately-owned Ukrainian universal bank. Comparable on retail banking, payment cards, SME and corporate lending, and digital banking services within the same domestic market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xt.me/joinchat/7BzRJLu4Z7FkYzRi
• YouTubeyoutube.com/channel/UCc4CJwCgjfl-48SobrEEsHg
• Facebookfacebook.com/industrialbank/?ref=bookmarks
• LinkedIninstagram.com/industrialbank_ukraine

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

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 IndustrialBank