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More than 55% of Ukraine's major banks are capable of continuing to operate even in the event of a power outage due to Russian shelling, National Bank of Ukraine (NBU) Governor Andriy Pyshnyi said in an interview with the Ukrainian service of Voice of America.
The large-scale attacks on Ukraine's energy infrastructure have tested the banks' readiness to operate in a blackout. Pyshnyi emphasized that more than half of the network of systemically important banks can now operate even in such conditions.
The Power Banking program has created a nationwide network of bank branches equipped with backup communication channels and uninterrupted power sources, including generators. This system was successfully tested during the spring phase of active missile attacks.
Pyshnyi, who is in Washington for the IMF and World Bank spring meetings, noted that representatives of other central banks are interested in Ukraine's experience in working in war and ensuring the smooth functioning of the financial system.
In Kharkiv, where Russian attacks led to widespread blackouts, 121 Power Banking branches continued to operate. However, Pyshnyi acknowledged that recovery from the destruction caused by the Russian attacks is complicated as energy infrastructure facilities have been hit by missile strikes.
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