The founder of the sportbank neobank Nikita Izmailov commented on why the project was closed despite its successful work during the war period. The investor reported this in a comment for N V Business.
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According to him, the last two years have been difficult for the neobank, like most Ukrainian businesses. However, the company, led by new management, managed to break even and achieve stable financial dynamics. As a result, the number of active users was constantly growing, the quality of the loan portfolio was improving, and there was an increase in liabilities.
Izmailov noted that sportbank planned to migrate to another bank before May 2024, since Taskombank, which was their servicing bank, changed its strategy .
However, these plans were prevented by the intervention of law enforcement agencies.
“In January 2024, pressure began on sportbank from the DBR in the form of searches, interrogations and blocking of accounts. Later in March, we proved our innocence to all the accusations, but our reputation and the project suffered greatly from this. Therefore, the bank, which should become a new home for the company and clients, refused to continue cooperation,” noted Nikita Izmailov.
According to him, sportbank found itself in a position where relations with Taskombank were already ending, and there was nowhere to migrate , so the owners are forced to close the project.
At the same time, the owner of sportbank assured clients that these changes will not lead to a worsening of their financial situation.
None of them will lose money or the opportunity to use those banking products that they have chosen for themselves. To achieve this, we have released instructions to help customers simply switch to other applications. Thanks to our team and our clients for these 5 years! I believe that the ending of one story always becomes the beginning of another,” said Izmailov.