Economy

“Power Banking: which bank branches are open during long power outages

ЕКСКЛЮЗИВ

Private and public businesses continue to adapt to the blackouts, which sometimes last for 12-15 hours a day. The banking system did not stand aside either – at the end of 2022, systemically important banks merged at the NBU’s initiative to create a joint banking network called Power Banking.

As of today, 2,391 regular branches have joined this network, which is 54% of the total number of operating branches of Ukrainian banks. This was the response to the request from the National Bank.

So far, 58 operating banks in Ukraine have joined the united network, including Privatbank, Oschadbank, Ukreximbank, Sens Bank, PUMB and others.

“Power Banking operates on the principle of “bank roaming”: branches of the network can serve clients of all banks. At the same time, the NBU has no plans to expand this network.

“The NBU has no plans to make any decisions on expanding the Power Banking network. At the same time, if banks have the resources and capabilities, as well as a corresponding request from their customers, banks may independently consider joining additional branches to the Power Banking network,”

– the NBU said.

For alist of regular branches of Ukrainian banks as of 16 July, see here.

During the blackout, all customers of the Power Banking network can access a list of important banking services: cash withdrawals (at ATMs or in the cash desk), payments, money transfers (in the cash desk or at self-service terminals), currency exchange (if cash is available in the cash desk), and consultations with managers on financial issues.

The branches of the joint network are provided with alternative energy sources and backup communication channels, have enhanced cash collection and additional staff.

The NBU added that the purchase and maintenance of power generators for the smooth operation of the branches is carried out at the expense of the banks themselves. Therefore, they cannot provide accurate information on the number of power generators purchased by the banks.

Information about the branches of the united banking network is updated daily on the map: https://power.bank.gov.ua/#section-4

Author – Alyona Kaplina

For more news, follow Kommersant Ukrainian on Telegram: https://t.me/komersant_ukrainskyi

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