Versobank AS was founded in October 1999 and regulated by the Estonian Financial Supervisory Authority (EFSA). Until March 2012 the main share of the Bank was owned by Cyprus Popular Bank Public Co Ltd (former named as Marfin Popular Bank Ltd) (Cyprus). Over the years, the Bank has formed a circle of customers and a team of professionals. In 2012, the Bank's shareholder structure was changed, that led to changes in the Bank's business name and the Bank's development strategy. In March 29, 2012 Ukrainian investors became the main shareholders of Versobank AS. Due to the changes introduced by the new shareholders and the team of professionals, the Bank began to develop rapidly.