The banking system continues to operate as usual. The NBU does not introduce any restrictions on bank operation or bank transactions, like payouts on deposits, issuing loans, foreign exchange, ATM operation etc.
The NBU has agreed with large banks that account for over 50% of the branch network in the banking system on full servicing of all regions. However, the NBU has advised banks to close branches with low customer traffic or located in big retail centers and buildings closed during quarantine. This is an important preventive step against the spread of coronavirus.
Thus, headquarters, branches with high customer traffic and offices in residential districts remain operational in the banking system. At the same time, the Ukrainian banks have sufficiently developed digital services and the majority of customer servicing can be done on-line. It’s up-to-date and safe.
The NBU has reduced the administrative load so that banks could devote more time to customer communication. In particular, stress testing and implementation of capital buffers were postponed and on-sight inspections were cancelled. Also, banks will be permitted to submit the annual financial statements later and business models assessments were postponed.