By decision of the fund’s executive board, temporary administration of PIN Bank was ended effective April 18, 2026, and the powers of the bank’s temporary state administrator, Olena Pavelko, were revoked, the fund said. UAB ZEN.COM now owns 100% of the bank’s shares.
The new owner must bring the bank’s capital and liquidity into compliance with banking laws within one month of the purchase, the fund said. Restoration of the bank’s solvency must be confirmed after an inspection by the National Bank of Ukraine before the bank resumes obligations to depositors and creditors. The fund also has appointed a curator to monitor performance under the share purchase agreement.
The Deposit Guarantee Fund selected ZEN.com as the winning bidder on April 1.
ZEN.com was founded in 2018 in Rzeszów by entrepreneur Dawid Rożek and promotes itself as a “zero-effort nonbank” platform for fast online payments and multi-currency operations. The fintech holds a license in Lithuania, partners with Aion Bank and operates in 28 EU countries.
PIN Bank was placed under temporary administration on Feb. 20, 2026, after the National Bank of Ukraine designated it insolvent.
PIN Bank was previously controlled by Russian oligarch Yevgeni
Giner. On Feb. 27, 2023, Ukraine’s High Anti-Corruption Court confiscated
88.89% of the bank’s shares from him in favor of the state; the decision was
upheld by the court’s appellate chamber on March 14, 2023.