40% of Bank Branches Are Ready to Provide Financial Services to Clients during Potential Long-Term Blackout

The POWER BANKING joint banking network, extra-equipped to operate even in conditions of power outages, has significantly expanded. Over the past month, the POWER BANKING branch network has grown by more than 50%, adding another 640 bank branches.

At this point, 40% of all bank branches (excluding the closed ones and those located in the occupied areas and in and around the battle zone) stand ready to provide financial services to clients in conditions of a potential long-term blackout.

Covering almost 300 settlements in all regions of Ukraine, this network spans 1,827 bank branches that are furnished with additional backup energy sources and communication channels.

"Today, every bank absolutely clearly understands its role and responsibility in ensuring the uninterrupted operation of the banking system in conditions of energy terror. The NBU has tasked each bank with contributing 35% of its branches to the network. Some banks are still approaching this target, but the banking system as a whole has already exceeded it. The number of POWER BANKING branches will therefore continue to grow," said NBU Governor Andriy Pyshnyy.

Since the launch of the project, 14 systemically important banks have been leading the way in its implementation. Their branches currently make up about 70% of the POWER BANKING network. At this time, almost all banks have joined the project in an effort that has contributed to the network’s rapid expansion.

As previously reported, a certain list of urgent banking services will be available during a long-run blackout to all customers at POWER BANKING branches. The services will include:  

• cash withdrawals (at ATMs or cash desks)
• payments, money transfers (through cash desks or self-service terminals)
• currency exchange (provided the branch has FX cash in its vault)
• consultations with managers on financial issues.