NovaPay Invest to Buy 100% Stake in BTA Bank

Ukrainian postal and logistics group Nova, through its subsidiary NovaPay Invest, plans to acquire a 100% stake in BTA Bank, the Ukrainian subsidiary of a Kazakh bank. On Oct. 23, NovaPay Invest, а Ukrainian international fintech service and non-bank payment system, officially notified the National Securities and Stock Market Commission of its intention to purchase the shares, according to the stock market data disclosure system. The company has also submitted an application to the National Bank of Ukraine (NBU), with regulatory approval pending.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. The deal will mark another merger & acquisition (M&A) in the banking sector in 2026 and end Nova’s journey to acquire a larger financial institution in addition to its non-bank NovaPay, which serves individuals and small- and medium-sized enterprises. Nova has previously attempted to enter the banking sector by targeting Idea Bank and Bank Lviv, but ultimately lost those bids to the TAS Group and Credit Agricole, respectively. The group intended to acquire a bank to expand its financial services, Nova co-owner Viacheslav Klymov told Forbes Ukraine in March. The logistics giant plans to use the acquisition as a foundation to create a financial inclusion bank. This specific license allows institutions to lend to individuals and small businesses while accepting retail deposits. Another group of investors, Dnipro-based entrepreneurs Viacheslav Mishalov and Dmytro Shevchuk, previously sought to buy BTA Bank, but NBU officials reportedly view Nova’s application as stronger, Forbes.ua reported. Other Topics of Interest Netherlands Pledges €1.2B to Ukraine, Including €40M for Urgent Repairs by Year-End During his visit to Kyiv, Dutch Foreign Trade Minister Sjoerd Sjoerdsma said support for Ukraine’s reconstruction cannot wait for a ceasefire. BTA Bank, a subsidiary of the Kazakh bank of the same name, ranks 58th among Ukrainian banks, with total assets of Hr. 370.5 million ($8.79 million) and equity capital of Hr. 210.7 million ($5 million). The bank’s net profit for the reporting period was Hr. 623,000 (around $14,770), according to NBU’s data for 2025. In 2021, BTA Bank in Ukraine was acquired by Kazakhstan’s Kaspi, the country’s largest company comprising Kaspi Shop LLP, Kaspi Bank JSC, Kaspi Pay LLP and Kaspi Travel LLP. Kaspi built a super-app that is the most widely used app for e-commerce, state and private services, maps, and online payments. Kaspi aimed to enter Ukraine’s market and was negotiating to acquire Ukraine’s e-commerce platform to compete with Ukraine’s largest retailer, Rozetka. But Russia’s full-scale invasion disrupted the plans, and Kaspi did not proceed with expanding its presence in Ukraine.