The NBU made an important statement regarding Revolut: what Ukrainians need to know.

The NBU defends its position on the licensing of Revolut Bank

The National Bank of Ukraine reacted to the announcement by the company Revolut about entering the Ukrainian market. According to an official statement published on February 27, 2025, the NBU noted that Revolut Bank UAB is a foreign banking institution registered in Lithuania, which has permission to operate in the European Union.

However, the NBU emphasized that according to Ukrainian legislation, foreign banks can operate in Ukraine only after establishing a branch or obtaining a banking license directly in the country. Both options require permission from the NBU.

'To date, Revolut Bank UAB has not received any licenses or permits from the National Bank of Ukraine, has not submitted the relevant applications and is not undergoing the licensing procedure of activities,' - the statement says.

The NBU supports competition and the development of fintech companies, but emphasizes the need for all market participants to comply with legislative and regulatory requirements. The bank pays special attention to the fact that Revolut customers will not fall under Ukrainian legislation on the protection of consumers' rights in financial services and the deposit guarantee system.