Ukrposhta intends to sign an agreement to buy a small Ukrainian bank within the next two quarters.

KPMG is assisting the national mail provider with its search. Ukrposhta announced a tender for the selection of a bank appraiser in mid-May 2021. The CEO of Ukrposhta, Igor Smilyansky, told Forbes. “Right now, we are looking at several banks with the help of KPMG, and hope to conclude the transaction by the end of the first quarter of 2022.” The investment into banking is expected to cost Ukrposhta $200 million, which corresponds to the minimum level of capital of

Less than one year after receiving banking rights, Ukrposhta increasingly looks like a European-style postal savings bank.

 Now the Ukraine’s seventh largest purchaser of point of sale terminals, Ukrposhta has brought electronic banking to 3,200 branches, largely concentrated in villages of around 2,000 people. In the first quarter of this year, Ukrposhta customers used the cash withdrawal service 207,000 times, withdrawing an average of $50. Two weeks ago, the post office raised its limit on withdrawals to $535.