State banks of Ukraine as a factor for ensuring monetary circulation stability under martial law

Abstract

Introduction. The results of the state-owned banks' activities (hereinafter BSC) in 2022 confirm their significant contribution to the stabilization of the national financial system during the period of full-scale Russian aggression against Ukraine. Problem Statement. Analysis of approaches to the strategic development of the BSC during the period of post-war economic recovery and their impact on the overall security of monetary circulation in the country. The given calculations make it possible to compare the financial results, role and place of each BSC with banks of foreign financial groups and banks with private capital. .Purpose. To assess the performance of banks with state participation in capital in 2022, compare the results obtained with the indicators of private sector banks, including with the participation of foreign capital, and formulate proposals for further legislative support for the optimization of business models of BSC in conditions of strengthening requirements for financial security. Methods. General scientific and special methods are used: analysis, synthesis, grouping, description, comparison, theoretical generalization and abstract-logical. Results. The dynamics of changes in the resource base of banks at the expense of legal entities and individuals, as well as their credit and investment portfolios, are presented. The main macroeconomic strategies of monetary policy, which influenced the development of banks in 2022, are considered. The importance of restoring the Government's cooperation with international financial organizations in 2023 is emphasized. Conclusions. Changes in the development strategy of the BSC are proposed in order to increase the capitalization of this sector and attract foreign capital in the direct investment of the banking sector. In the conditions of martial law, in order to ensure the manageability of the BSC it is advisable to review the list of key strategic indicators of banks from the point of view of unification and convenience for measuring and comparing the effectiveness of their management's work, as well as monitoring investment attractiveness. The financial security of Ukraine in the system of the bank-centric financial sector must be based on the transparent management of the BSC sector, which must have a long-term development strategy along with a transparent mechanism for evaluating the quality of management's work.