Yettel Bank

What Yettel Bank does

Yettel Bank is a Serbian retail bank operating as a subsidiary of Czech conglomerate PPF Group, headquartered in Belgrade's Airport City business district. Originally known as Mobi Banka, the institution was rebranded to Yettel Bank in 2024 to align with its sister company Yettel, a Serbian mobile telecom operator also owned by PPF Group. The bank employs 251-500 staff organized across IT/development (4th floor) and business operations including legal, finance, marketing, HR, contact center, and product teams (5th floor). It serves individual consumers and non-residents in Serbia exclusively, operating from a single physical branch (ekspozitura) with no traditional branch network beyond that location.

The bank delivers a fully digital banking product suite through a mobile application (iOS and Android) and a web banking platform. Core products include four current account tiers (Bank MAX premium, Bank Lite, Bank Start multi-currency, and a statutory basic payment account), consumer credit products (Keš Kredit cash loan, FIKS refinancing, income-targeted loan up to 100,000 RSD, salary-linked overdraft, and an interest-free 0% device loan exclusive to Yettel postpaid customers), savings products (term and sight deposits in RSD and EUR with up to 4.50% annual interest on 6-month dinar deposits), and payment cards (Mastercard credit and debit, DinaCard, and an instant-issue debit card). The platform integrates with the National Bank of Serbia's IPS instant payment system (24/7 real-time transfers up to 300,000 RSD, QR-based IPS at participating merchants), SWIFT for cross-border transfers, Apple Pay, Google Pay, Mastercard PayPass, and 3D Secure. Distribution leverages the Yettel telecom parent's nationwide retail shop network for in-person sales and support, supplemented by a proprietary ATM network.

The business model combines subscription (monthly account maintenance fees of 0-595 RSD, with Bank MAX at a 0 RSD promotional rate and free accounts for Yettel postpaid users) and transaction-based revenue (card payment commissions, foreign transaction fees, instant payment fees of 20-50 RSD, ATM fees per tariff) with interest income from cash and device loans. Go-to-market is product-led, targeting Yettel postpaid subscribers with preferential fee-free banking under the Yettel Sve cross-brand loyalty program. The bank earned Gold and Silver recognition at the 2025 International Customer Experience Awards for workplace and innovation.

Name

Yettel Bank

Legal name

Yettel Bank ad Belgrade

Website

https://yettelbank.rs

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

251–500 employees

Short description

Yettel Bank is a Serbian digital retail bank and PPF Group subsidiary offering mobile-first current accounts, consumer loans, savings, and payment cards to individual consumers, with bundled telecom-plus-banking services targeted at Yettel postpaid mobile subscribers.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

Secured Credit Cards (FSAKABAD), Card Issuing Platforms (Issuer Processing) (FSAGABAD), BNPL Card / Virtual Card Programs (FSAKACAC)

Keywords

• Retail banking services
• Digital banking platform
• Consumer lending
• Payment cards
• Savings accounts

Headquarters

HQ city

Belgrade

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Account Maintenance Fees: Monthly fees from account packages including Bank MAX (595 RSD/month), Bank Start (345 RSD/month), and payment account with basic services (150 RSD/month)
2. Loan Interest Income: Interest income from cash loans with fixed annual rates using conformal calculation method, device loans at 0% interest rate
3. Card Transaction Fees: Commission income from card payments; 1.5% foreign transaction fee for Starter/Basic users; 35 RSD fee for declined foreign transactions
4. Instant Payment Fees: Commission for instant payments: 50 RSD for Basic package, 20 RSD for Starter package, free for Progressive package users
5. ATM Transaction Fees: Fees for ATM cash deposits in EUR using debit card per bank tariff

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Yettel Bank is a Serbian digital-first bank offering current accounts (Bank MAX, Bank Lite, Bank Start, Payment Account with Basic Services), cash and refinancing loans, device loans, overdraft facilities, term and sight deposits in dinars and euros, Mastercard and DinaCard payment cards, instant card issuance, and digital services including IPS QR instant payments, in-app currency exchange, Apple Pay/Google Pay, and international SWIFT transfers delivered through a mobile and web platform.

Product overview

Yettel Bank is a Serbian digital banking platform (a subsidiary of PPF Group) offering a unified suite of banking products through its mobile and web applications. The core product portfolio spans current accounts (Bank MAX, Bank Lite, Bank Start, and Payment Account with Basic Services), credit products (Keš Kredit, FIKS Refinancing, device loans, and overdraft), savings (term and sight deposits in dinars and euros), and payment cards (Mastercard credit/debit and DinaCard). Digital services include Apple Pay/Google Pay integrations, IPS QR instant payments, international transfers via SWIFT, in-app currency exchange, and the cross-brand Yettel Sve loyalty program. All services are delivered through a single digital-first platform with no traditional branch network except one flagship branch in Belgrade.

Differentiator

Problem solved

Functional benefit

Products and services

• Bank MAX Current Account

Quantifiable outcome

• Instant payments processed 24/7/365
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• ApplecoreTechnology or IntegrationApple Pay integration enabling Yettel Bank cardholders to make contactless payments using Apple devices. Customers can digitize their cards through the mobile app for secure and convenient payments.
• GooglecoreTechnology or IntegrationGoogle Pay integration allowing Yettel Bank customers to add cards to Google Wallet for contactless mobile payments on Android devices.
• MastercardcoreTechnology or IntegrationCard network partnership for issuing Mastercard credit and debit cards. Supports contactless PayPass payments, 3D Secure online transactions, and international payment capabilities.
• DinaCard (National Payment Card)coreTechnology or IntegrationPartnership with Serbian national payment system DinaCard for issuing domestic payment cards. Cards accepted at all ATMs and POS terminals in Serbia.
• National Bank of Serbia (NBS)coreTechnology or IntegrationIntegration with central bank infrastructure for IPS instant payment system enabling 24/7 real-time payments up to 300,000 RSD. Also connected to NBS credit bureau and regulatory reporting systems.
• SWIFTcoreTechnology or IntegrationSWIFT network connectivity for international wire transfers enabling cross-border payments and currency exchange services for residents and non-residents.
• Mercator-S (Mercator, Idea, Roda)minorChannel Partner/ Reseller/ DistributorIPS QR payment acceptance at Mercator-S retail chain including Mercator, Idea, and Roda megamarket stores across Serbia.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/yettel-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Yettel Bank