Founded as the Minsk Innovation Bank, the first financial institution in the history of Belarus operating as a commercial bank.
Its shareholders were major industrial enterprises, including BelAvtoMAZ, the Minsk Tractor Works, the Minsk Refrigerator Plant, and the Horizont plant, as well as a number of higher education institutions.
Priorbank became the first company in Belarus to undergo corporatization (conversion into a joint-stock company).
It obtained a General License to conduct operations in foreign currencies.
The bank was renamed the Belarusian Industrial and Innovation Bank "Priorbank."
During this period, Priorbank defined two key areas of development for itself: building a universal bank with a broad range of products and services, and financing innovative projects. In the years that followed, recognition from Belarusian and international experts confirmed that this strategy was the right one.
Priorbank initiated the introduction of the latest developments in cashless payments into the Belarusian banking system.
As one of the founders of the national card system BELKART, Priorbank became the first Belarusian credit and financial institution to join the VISA International and MasterCard/Europay payment associations. It issued the first international Visa and MasterCard plastic cards in Belarus and connected to the REUTERS system and the S.W.I.F.T. electronic payment system.
The European Bank for Reconstruction and Development became one of Priorbank's principal shareholders, acquiring a 27% stake.
Priorbank joined the Raiffeisen banking group and further strengthened its focus on an innovation-driven development strategy.
This period was decisive in carrying out large-scale projects to introduce modern financial technologies and services that were unique for Belarus:
- remote banking systems, including Internet banking and its mobile version;
- biometric technology for voice-based identity verification when calling the contact center;
- contactless HCE technology for payments via mobile phone;
- remote service for premium clients, and more.
The one-millionth payment card was issued.
Priorbank became the first Belarusian bank to provide access to an open API.
The first international bank guarantee transaction in Belarus using blockchain technology was carried out.
A new self-service branch format was opened in Minsk: workstations with computers and tablets were set up for clients, along with self-service devices for carrying out necessary operations, such as making payments, opening accounts, applying for cards and loans, and so on.
Launch of several technological innovations:
- Apple Pay,
- Samsung Pay,
- Garmin Pay,
- payment bracelets,
- Priorbank's Visa virtual card.
Together with Visa and IBA Group, Priorbank became the first in Belarus to launch a technology for businesses that allows them to accept payments via smartphone: Prior SoftPos.
In addition, the bank introduced a new service for businesses, the "Software Cash Register", which allows businesses to use a single device instead of three (a POS terminal, a cash register, and a tax authority control device), combining all the functions needed for card payments and cash accounting.
Priorbank began issuing Belkart Premium and Visa Signature cards, and also launched remote banking services for businesses.
Priorbank expanded its business services. The Prior Business mobile app gained the ability to enable push notifications about incoming and outgoing funds on current accounts, and the business card lineup was joined by Belkart Corporate.
Priorbank began issuing Belkart and Mastercard virtual cards and launched a new service, Visa Alias, which enables transfers by phone number.
In addition, in 2023 holders of Priorbank's Belkart cards gained the ability to pay for purchases with a smartphone via the Belkart Pay app, and Mastercard holders via the new Swoo Pay app. Somewhat later, Visa cardholders were also able to use Swoo Pay.
Priorbank simplified transfers by phone number in Prior Online and improved its internet acquiring by connecting the services of the provider bePaid. Priorbank also became the first bank in Belarus to develop a payment API and launched a free service for calculating organizations' taxes: an online accounting service.
In September 2024, Priorbank passed to a new owner, Soven 1 Holding Limited, and from that moment a new chapter began in our history, while the values and strategies that allow Priorbank to remain one of the leaders of the banking sector stayed unchanged.
Priorbank updated the option of withdrawing cash from credit cards, and it also became possible to top up cards via ERIP (the Unified Settlement and Information Space) and at recycler ATMs using contactless payment services (Apple Pay, Samsung Pay, Swoo Pay, and others).
In May 2025, Priorbank's shareholders approved a buyout of the state's 6.31% stake in the bank. The government sold its entire holding, which was purchased by the bank's existing private shareholders, so the state no longer holds any shares in Priorbank. The deal increases the concentration of share capital among private investors and is expected to strengthen the bank's potential to develop its international payments business.
At the end of the year, Priorbank became a partner of ice rinks in Minsk, Vitebsk, Brest, and Grodno, making winter in Belarusian cities even more magical. With cozy decorations, engaging activities, and attractive offers, the rinks became central places to get into the holiday spirit.
In 2026, Priorbank launched virtual wallet top-ups on the Finstore platform with free withdrawal of funds to an account, and began issuing a new premium card, Belkart Maximum.
In addition, a large-scale exhibition project was launched, in which Priorbank presented its collection of contemporary Belarusian painting to the public for the first time.
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