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Banking University was founded in 2006. It was a response to the challenge of time - to create a centralized educational institution, united by a common strategy and tactics in training of highly qualified personnel for financial and credit system of Ukraine.
The University was created on the basis of Lviv Banking Institute and its branch in Kiev. Two institutes that have existed as a part of Sumy Banking Academy in Kharkiv and Cherkasy joined the University. As a result it united four institutes in Kharkiv, Lviv, Cherkasy and Institute of banking technology and business in Kiev that had been working in the educational market since 1940.
BU NBU was established in conformity to the decree of the Cabinet of Ministers of Ukraine dated June 15, 2006, No. 331-p "Some questions of the ordering the network of higher education institutions" and Resolution of the National Bank of Ukraine dated on July 7, 2006, No. 265 "On reorganization of education institutions of the National Bank of Ukraine".
On September 1, 2007 – was the first time when a newly created University started to train Masters. The celebration was attended by honorable guests - Chairman of the Supervisory Board of International Charity Fund "Ukraine 3000" Kateryna Yushchenko, Head of the NBU Council Petro Poroshenko and his son, Governor of the National Bank of Ukraine Volodymyr Stelmakh, Minister of Foreign Affairs of Ukraine Arseniy Yatsenyuk, deputy of Ukraine of the V convocation, former Minister of Finance of Ukraine Viktor Pynzenyk, Patriarch of Kyiv and all Rus - Filaret.
In 2013 Sevastopol Institute joined Banking University. The Institute is no longer in operation because of the annexation of the Crimea. Most of the students and teaching staff were transferred to the institutes of the University.
In 2015 the University became an independent institution and went into the structure of the Ministry of Education and Science of Ukraine.
In 2007, the election of rector was held. On February 27, Rector of the University Tamara Smovzhenko, director of the Lviv Institute of Banking, Doctor of Economics, professor, Commander of the Order of Princess Olga, Laureate of Luca Pacioli International Prize, Honorary Professor of the International University of Vienna, was elected unanimously by staff meeting.
On September 1, 2012 D.Eng, Professor Volodymyr Hylenko was appointed to a post of the Acting Rector of the Banking University. Tamara Smovzhenko was transferred to the post of the advisor to the rector. A year later, Volodymyr Hylenko was dismissed. Tamara Smovzhenko was unanimously elected by the staff meeting for the second time and was appointed the rector of the Banking University.