PECULIARITIES OF FUNCTIONING OF THE BANKING SECTOR OF UKRAINE UNDER MARTIAL LAW: SECURITY ASPECT

Abstract

The article examines the peculiarities of the functioning of the banking sector of Ukraine under martial law in the context of the security aspect. It was found out that the state of war could not but affect the banking sector of the state, therefore banking institutions were faced with the fact of the need to act in new conditions. It was noted that the activity of the banking system in any conditions is based on such key principles as legality, economic independence, independence from state bodies, responsibility for obligations, legality of banking operations, compliance with economic standards, the right to choose a banking institution and maintaining the trust of customers . It is emphasized that at the state level, since the beginning of the war in Ukraine, measures have been taken to optimize the functioning of the banking sector in the conditions of martial law. It was noted that even during active military operations in a significant territory of Ukraine, the banking sector demonstrated relative stability in its functioning. It was noted that, nevertheless, there are significant risks in this area, since the share of time funds in the banking sector continues to decrease in modern conditions. Attention is focused on the creation of a network of branches by the National Bank of Ukraine and systemically important banks, which was named POWER BANKING. It was noted that the banking sector of Ukraine witnessed high performance results during 2022, despite the challenges of wartime. It was observed that in 2022 there was an increase in total and net assets in the consolidated balance sheet indicators of the banking sector. It was concluded that ensuring the security of the banking sector of Ukraine in modern conditions should involve strengthening of management actions and measures of bank management aimed at attracting customers, securing their deposits from unforeseen losses, diversifying bank credit risks and expanding the range of services that banking institutions will provide to individuals and legal entities .