Question 1

What is Oschadbank?

Accepted Answer

Oschadbank (Public JSC "State Savings Bank of Ukraine") is a major state-owned universal bank in Ukraine and one of the country's systemically important financial institutions. Founded in 1999, it operates the most extensive branch network in Ukraine with approximately 1,200 branches serving over 6.2 million active clients as of 2023.

The bank is wholly owned by the Ukrainian government and holds approximately 15.53% market share, making it the third-largest bank in Ukraine by total assets. Oschadbank specializes in retail banking, small and medium enterprise lending, and corporate banking services.

Question 2

When was Oschadbank founded?

Accepted Answer

Oschadbank was officially founded on May 21, 1999, when it was transformed by Decree of the Cabinet of Ministers of Ukraine from the State Specialized Commercial Savings Bank of Ukraine into a joint-stock company. However, its roots trace back further to the dissolution of the Soviet Union, when the Ukrainian operations of the Savings Bank of the USSR were reorganized as a standalone institution.

The bank's name derives from the Ukrainian word "oshchadnyi," meaning "savings," reflecting its original purpose as the state savings bank for Ukrainian citizens. This transformation represented a significant shift in Ukraine's banking landscape as the country transitioned from a Soviet-style economy to an independent market-based financial system.

Question 3

Where is Oschadbank headquartered?

Accepted Answer

Oschadbank's head office is located in Kyiv, Ukraine. The bank's headquarters serve as the central hub for its operations across the country, coordinating the activities of its extensive branch network and supporting its position as one of Ukraine's largest financial institutions.

Question 4

Where does Oschadbank operate?

Accepted Answer

Oschadbank operates throughout all government-controlled regions of Ukraine, maintaining the most extensive branch network of any Ukrainian bank. As of December 31, 2023, the bank had approximately 1,197 branches, 2,793 ATMs, and 2,559 self-service terminals distributed across the country.

The bank has demonstrated remarkable commitment to accessibility by operating in both major cities and small villages, ensuring financial services reach even remote areas. Following the 2022 Russian invasion, Oschadbank has prioritized resuming operations in de-occupied territories, returning to liberated cities as soon as security conditions permit. The bank also operates mobile branches based on vehicles to deliver services to areas near front lines and regions where stationary branches are not available.

Question 5

What services does Oschadbank offer?

Accepted Answer

Oschadbank provides comprehensive banking services across retail, commercial, and corporate segments. For individual customers, the bank offers current accounts, deposit products (including specialized "My Defender" and "My Victory" deposits), payment cards, consumer loans, mortgage lending, and car financing. The bank leads Ukraine's mortgage market with a 44% share and holds 50% of the car loan market as of 2023.

For business clients, Oschadbank provides lending to micro, small, and medium-sized enterprises (MSMEs) with a gross loan portfolio of UAH 21.9 billion, as well as corporate lending services with a portfolio of UAH 55.2 billion. The bank offers preferential lending programs for business relocation, export financing through Export Credit Agency insurance programs, and financial leasing services.

Digital services include the Mobile Oschad app, which provides 24/7 access to banking services including money transfers, bill payments, deposit management, loan repayment, and digital card issuance. The bank introduced remote customer onboarding in 2024, allowing new clients to open accounts without visiting a branch. Additional services include pension and social benefit disbursement, utility payment processing, currency exchange, and wealth management products including the Oschadbank Premium Banking service for high-net-worth individuals.

Question 6

What makes Oschadbank unique?

Accepted Answer

Oschadbank distinguishes itself as the only Ukrainian bank where deposits of individuals were historically fully guaranteed by state law, though this protection has since been extended more broadly under martial law. The bank holds a unique position as a critical infrastructure institution, maintaining operations even during the ongoing conflict with Russia.

As a member of Power Banking, a joint network created by the National Bank of Ukraine, Oschadbank maintains 450 branches equipped to operate during prolonged power outages. The bank's commitment to accessibility is exemplified by its "My Barrier-Free" inclusiveness program launched in 2023, which focuses on improving services for disabled people and veterans.

Oschadbank leads Ukraine in government-backed lending programs, including the "YeOselia" preferential mortgage program and the "Affordable Loans" program for SMEs. In December 2023, the bank ranked first in the record number of product nominations in the "25 Leading Ukrainian Banks in Wartime" rating, and posted record operating profits of UAH 12 billion ($316 million). The bank has also positioned itself as a hub connecting Ukrainian entrepreneurs with international programs and investments for post-war reconstruction.

Question 7

What type of financial institution is Oschadbank?

Accepted Answer

Oschadbank is a universal state-owned bank that operates as a public joint-stock company (JSC). Under Ukrainian banking classification, it is designated as a systemically important bank by the National Bank of Ukraine, recognizing its critical role in the country's financial system.

As a universal bank, Oschadbank maintains diversified operations across retail banking, commercial banking for SMEs, and corporate banking segments. Its state ownership gives it a special mandate to support social functions including pension disbursement, social aid distribution, and participation in government economic support programs. The bank became a member of the Individual Deposit Guarantee Fund (FGVFO) in April 2022, aligning it with standard deposit protection mechanisms alongside its historical state guarantee provisions.

Question 8

How has Oschadbank performed during wartime?

Accepted Answer

Since the beginning of Russia's full-scale invasion in February 2022, Oschadbank has maintained stable operations despite significant challenges. The bank posted record operating profits of UAH 12 billion in 2023, compared to UAH 5.6 billion in 2021, demonstrating financial resilience during wartime conditions.

The full-scale war period has been the most stable time for Oschadbank's digital channels, with the bank prioritizing uninterrupted service delivery through its mobile app, ATM network, and branch operations. The bank lost 14 employees who sacrificed their lives defending Ukraine, and has calculated losses from Russian aggression, becoming the first Ukrainian bank to appeal to the European Court of Human Rights for restitution. Previously, in 2018, an international arbitration court in Paris awarded Oschadbank over $1 billion in compensation for losses from Crimea's annexation, though this decision was later overturned.

Question 9

What is Oschadbank's role in Ukraine's economic recovery?

Accepted Answer

Oschadbank has positioned itself as a key financial institution supporting Ukraine's wartime economy and future reconstruction. The bank's strategic program for 2024-2028, approved by its Supervisory Board, focuses on facilitating economic recovery by partnering with international financial institutions to gradually replace government subsidies with international cooperation programs.

During 2023, the bank extended UAH 13.3 billion in loans to business clients, supporting more than 4,500 companies employing approximately 120,000 Ukrainians. The bank actively participates in Ukraine's reconstruction efforts by providing financing for infrastructure projects, supporting business relocation to safer regions, and facilitating access to international funding programs. As Ukraine expects approximately $500 billion for economic restoration, Oschadbank is preparing to serve as a local partner bank for programs like the EU's Ukraine Facility, which includes €8 billion in concessional loans. The bank has also committed to implementing ESG practices, including sustainable financing programs, support for green projects, and inclusive financial products.

Oschadbank

in the Ukraine 🇺🇦

Crypto-Friendliness

All done!

About Oschadbank in the Ukraine