Polish investor in PINbank not planning to develop lending
Polish fintech company ZEN.com, which acquired 100% of the shares of insolvent JSC First Investment Bank (PINbank), does not plan to enter the Ukrainian banking market with lending services in the near future.
Speaking to Ukrinform on the sidelines of a joint briefing with the Deposit Guarantee Fund in Kyiv, Maciej Rynarzewski, Strategy Director at ZEN.com, gave the comment.
He emphasized that the new owner’s strategy is to transform PINbank into a modern digital institution focused on a wide range of payment and cross-border financial services for both individuals and businesses.
Rynarzewski said that expansion into Ukraine is a logical step for the company, as it already serves hundreds of thousands of Ukrainians living in Europe. He noted that they need affordable and reliable money transfer services, which ZEN.com plans to actively develop in Ukraine using its digital solutions.
He added that the investor also aims to meet the needs of Ukrainian entrepreneurs requiring fast and convenient cross-border financial services. However, ZEN.com does not plan to develop lending.
“Lending is not part of our focus, at least for now. But if demand arises in the future, we may revisit this issue,” Rynarzewski noted.
According to ZEN.com CEO Europe Michał Bogusławski, the company plans to invest about €20 million in the development of the Ukrainian bank over the next two years.
As reported, ZEN.com acquired PINbank at auction.
The transfer of 100% of shares of the insolvent bank to the foreign investor was completed on April 20, 2026, along with the termination of temporary administration. The new owner was officially presented at the Deposit Guarantee Fund on April 22.
Former Polish President Andrzej Duda, a member of ZEN.com’s Supervisory Board, also attended the presentation in Ukraine. He stressed that the acquisition of PIN Bank demonstrates trust in Ukraine and signals European business readiness to invest in its post-war recovery.
Photos provided by the DGF press service