26 Jan 2023 12:05

Number of bank branches in Ukraine able to serve clients during blackout up 1.5 times in past month - NBU

MOSCOW. Jan 26 (Interfax) - The number of bank branches in Ukraine able to operate even during lengthy power outages went up one-and-a-half times, or by 640 branches, over the past months and currently stands at 1,827, Ukrainian media said, citing the press service for the National Bank of Ukraine (NBU).

It is 40% of all bank branches, except for those that are not functioning or are located in territories that are not controlled by Kiev (there were 4,500 such bank branches as of January 23, the press service said.

"The NBU set the objective of bringing the number of such branches in each bank to 35%. Some banks are still approaching a certain level, but, as regards the system as whole, we have already outperformed this target," the press service quoted NBU Governor Andrei Pyshny as saying.

At the start of the project, its leaders were 14 key banks, whose branches account for around 70% of the Power Banking network, the press service said. However, almost all banks have now joined this project, thus contributing to the rapid expansion of the network.

As reported, major Ukrainian banks on November 24 compiled a list of their branches that would keep providing financial services to clients even during lengthy blackouts. This list consisted of 760 bank branches in Kiev and 275 in the regions.

Even during power outages, the bank branches within the Power Banking network will continue offering clients a range of emergency banking services, such as withdrawing cash (from ATMs or via the teller), payments, wire transfers (via the teller or at self-service terminals), currency exchange (if the branch in question has cash currency), and managers' consultations on financial issues.

The NBU has also organized the uninterrupted operation of the contact centers of its own and of key Ukrainian banks to inform clients about the availability, location and business hours of such bank branches in their cities, the press service said.