The inability to access state registers reduces banks’ ability to provide loans – media

The inability to access state registers reduces banks’ ability to provide loans – media

The unavailability of some state registers due to a Russian cyberattack negatively affects the ability of banks to open new accounts and issue loans.

This was reported by the National Bank of Ukraine.

"The cyberattack did not affect the operation of the National Bank. All information systems of the National Bank were and continue to operate in a regular mode. However, the unavailability of certain state registers does affect the work of banks in some way, particularly in terms of opening new accounts and issuing new loans," noted the NBU.

The National Bank recalled that at the beginning of the large-scale invasion, state registers were also unavailable, and for this reason, the central bank provided guidance to the banking system on the procedure for opening accounts under such conditions, based on which the banking system operated until mid-June 2022.

The NBU noted that they are currently preparing a similar letter.