29 Nov 2022 15:04

NBU plans to promptly connect a least 1,000 branches of banks in Ukraine to Power Bank

MOSCOW. Nov 29 (Interfax) - The National Bank of Ukraine (NBU) is committed to ensuring the uninterrupted operation of its systems given the problems with electricity supply in the country, NBU Governor Andrei Pyshny said at a meeting with the ambassadors of Group of Seven and European Union countries in Kiev on Monday.

"We are working on a project which we tentatively call the Bank of Invincibility or Power Banking. It is a perimeter built on the basis of a least 100 branches of banks which will promptly be connected to one network that will function even in a critical situation," Ukrainian media outlets quoted Pyshny as saying in a social media post early on Tuesday morning.

There were no disruptions in the banking system's operation even during the recent temporary blackout, he said.

"This is the result of well-coordinated interaction between our teams and banks. We want to enhance this protection even more," he added.

As reported, on November 23, when there was a total blackout in Ukraine, more than 1,500 branches of banks and over 3,800 ATMs kept operating, the NBU said. A total of 5,516 branches of banks operated in Ukraine as of early October, and there were 15,403 functioning ATMs in the country as of early September.

The NBU said that the following day, 14 systemically important banks drew up a list of standby banking outlets that will keep serving clients even in the event of a lengthy blackout. This list includes 760 branches of banks in Kiev and another 275 in localities in 22 regions of the country.