# KredoBank

The Public JSC KredoBank (Ukrainian: ПАТ "Кредобанк") is a bank headquartered in Lviv in Ukraine, originally established in 1990 as West-Ukrainian Commercial Bank and known as Kredyt Bank (Ukraine) from 2002 to 2005. In early 2024, it was confirmed by the National Bank of Ukraine as one of the country's systemically important banks. It is also the largest Polish-controlled bank in Ukraine, and has been majority-owned by Polish banks since 2000, first Kredyt Bank and then PKO Bank Polski. As of 2021, the latter owned all of KredoBank's equity capital.
KredoBank's national network contains 88 outlets throughout Ukraine. The bank has the highest national credit rank - uaAAA by Standart-Rating and Expert-Rating rating agencies.

## History

JSC West-Ukrainian Commercial Bank (ZUKB) was established in Lviv and was registered as a limited liability company in the State Bank of the former USSR on 14 May 1990 (registration number 289) and re-registered with the National Bank of Ukraine on 14 October 1991 (registration number 24). On 21 February 1992 at the General Shareholders Meeting ZUKB transformed into open joint-stock company (bank registration certificate number 96 on 31 March 1992).
In 2000, Warsaw-headquartered Kredyt Bank [pl], together with the European Bank for Reconstruction and Development, acquired the West-Ukrainian Commercial Bank.$^{:28}$ According to the Extraordinary General Shareholders Meeting on 17 August 2001 the bank changed its name from JSC West-Ukrainian Commercial Bank to JSC Kredyt Bank (Ukraine), and therefore the Extraordinary General Shareholders Meeting on 26 October 2001 made the appropriate changes in the Charter of the bank.
In 2004, the process of changing the strategic investor of JSC Kredyt Bank (Ukraine) was finished with a sale of shares (whole package - 66.65%) by Poland's Kredyt Bank to PKO Bank Polski SA. As a result, the Extraordinary General Shareholders Meeting of JSC Kredyt Bank (Ukraine) was held on 17 November 2005, where shareholders approved replacing the old name of the bank by new one, which is the open joint-stock company KredoBank. On 1 March 2006 the bank officially changed its name to PJSC KredoBank.
Since September 2013, the bank has been rebranded. On 5 September the updated logo of the bank was presented. The new logo of KredoBank, made in the corporate style of the strategic investor of the bank - the largest bank in Poland PKO Bank Polski SA, symbolizes the European approach to the conditions and standards of customer service, and in the future - simplification of the processes of providing banking services.
The service network of KredoBank is 82 branches in 22 regions of Ukraine and in Kyiv. Net assets as of 1 July 2021 amounted to ₴27,339.6 million, by their size KredoBank is one of the twenty largest banks in Ukraine. Net profit as of 1 July 2021 amounted to more than ₴423.9 million, by its size KredoBank is also among the twenty most profitable banks in Ukraine.

## Structure

Dynamic growth of KredoBank rates, entering new geographic markets, expanding the range of services, implementing new banking technologies causes the need for continuous change in the organizational structure of the bank and building the new one that would allow rapid response to change market conditions. As of 1 May 2020, the organizational structure of PJSC KredoBank is formed with the main bank and 88 outlets. PJSC KredoBank employs over 2,000 people, most people with high levels of financial and economic education, dominated by the number of young people under 35 years of age. Business training for personnel is carried out with the assistance of international institutions: the British Know How Fund, and Western Ukrainian initiative ACDI / VOCA (Agriculture Co-operative Development International). Considerable assistance in training is provided by PKO BP SA, in which personnel is trained and gains experience with the Polish financial markets.