Corporate Security and Financial Stability of Ukrainian Banks under Crisis Conditions

In the context of growing challenges to the security of the banking sector during Ukraine's post-war economic transformation, it has become necessary to rethink approaches to the strategic management of banks with an emphasis on security factors. This study addresses the insufficient integration of corporate security factors into comprehensive models for assessing and managing the financial stability of commercial banks under wartime conditions. The methodological framework combined structural and functional analysis, scenario forecasting, and econometric modeling. The initial information base consisted of data from the National Bank of Ukraine, financial and non‑financial statements of 10 banks, materials from international rating agencies, and publicly available corporate data. The results revealed significant heterogeneity in the financial parameters of the banks under study. The highest capital adequacy ratios were recorded at Credit Agricole Bank – 24.5% and Raiffeisen Bank – 23.8%, while Ukreximbank’s figure was 16.1%. The share of non‑performing loans reached 28.9% at Ukreximbank and 23.7% at Oschadbank. Universal Bank reported the highest return on assets – 1.1%, and the level of credit risk coverage by reserves at PrivatBank and Credit Agricole Bank was 98% each. Standardized sensitivity coefficients between the corporate security index and ROA increase from 0.47 to 0.78, and with CAR — from 0.33 to 0.66, while an inverse relationship remains for NPL, ranging from −0.52 to −0.70. The results obtained can be used by regulatory bodies, the management of banking institutions, and analytical organizations when developing policies to ensure financial security in the context of the structural transformation of the economy.

1. A-Bank. (2025). Information for shareholders and stakeholders. Retrieved April 30, 2026 from https://abank.com.ua/about/for-stakeholders

2. Abidovna, A.S. (2023). Modern trends in management strategies and their application in commercial banks. Gospodarka i Innowacje, 41, 326-332.

3. Al Zaidanin, J.S., Al Zaidanin, O.J. 2021. The impact of credit risk management on the financial performance of United Arab Emirates commercial banks. International Journal of Research in Business and Social Science, 10(3), 303-319. https://doi.org/10.20525/ijrbs.v10i3.1102

4. AL-kiyumi, R.K., AL-hattali, Z.N., & Ahmed, E.R. (2021). Operational risk management and customer complaints in Omani banks. Journal of Governance and Integrity, 5(1), 200-210. https://doi.org/10.15282/ jgi.5.1.2021.7031

5. Atamanyuk, I., Poltorak, A., Sidenko, I., Bartnicka, E., & Kondratenko, Y. (2024). Concept of express monitoring of the state’s financial security. Proceedings of the 22nd Industrial Simulation Conference (ISC 2024), 24–29.

6. Bacciu, V., Sirca, C., & Spano, D. (2022). Towards a systemic approach to fire risk management.Environmental Science & Policy, 129, 37-44. https://doi.org/10.1016/j. envsci.2021.12.015

7. Bank for International Settlements. (2022). Principles for Operational Resilience. Retrieved April 30, 2026 from https://www.bis.org/fsi/fsisummaries/op_resilience.htm

8. Bueno, L.A., Sigahi, T.F., Rampasso, I.S., Leal Filho, W., & Anholon, R. (2024). Impacts of digitization on operational efficiency in the banking sector: Thematic analysis and research agenda proposal. International Journal of Information Management Data Insights, 4(1), 100230. https://doi.org/10.1016/j.jjimei.2024.100230.

9. Buriachenko, O., Somak, O., Golubytskyi, S., Kravchenko, N., & Kravchenko, O. (2025). International support for Ukraine: Evaluating the impact of military, economic, and diplomatic aid. Revista de Cercetare si Interventie Sociala, 88, 151-168.

10. Challa, S.R., Challa, K., Lakkarasu, P., Sriram, H.K., & Adusupalli, B. (2024). Strategic financial growth: Strengthening investment management, secure transactions, and risk protection in the digital era. Journal of Artificial Intelligence and Big Data Disciplines, 1(1), 97-108. https://doi.org/10.70179/1kfdwj89

11. Chao, X., Ran, Q., Chen, J., Li, T., Qian, Q., & Ergu, D. (2022). Regulatory technology (Reg-Tech) in financial stability supervision: Taxonomy, key methods, applications and future directions. International Review of Financial Analysis, 80, 102023. https://doi.org/10.1016/j. irfa.2022.102023.

12. Credit Agricole Bank. (2025). Fourth quarter and full year 2024 results. Retrieved April 30, 2026 from https:// www.credit-agricole.com/en/finance/financial-results/ fourth-quarter-and-full-year-2024-results.

13. Ellis, S., Sharma, S., & Brzeszczyński, J. 2022. Systemic risk measures and regulatory challenges. Journal of Financial Stability, 61, 100960. https://doi. org/10.1016/j.jfs.2021.100960.

14. First Ukrainian International Bank. (2025). Annual reports. Retrieved April 30, 2026 from https://about. pumb.ua/en/finance/annual_reports.

15. Fitch Ratings. (2024). Fitch Upgrades 7 Ukrainian Banks' IDRs on Sovereign Rating Action. Retrieved April 30, 2026 from https://www.fitchratings.com/ research/banks/fitch-upgrades-7-ukrainian-banks-idrson-sovereign-rating-action-23-09-2024.

16. Fojcik, B. 2024. Ukrainian banks tested by tax hike, capital changes. Retrieved April 30, 2026 from https:// www.spglobal.com/market-intelligence/en/newsinsights/articles/2024/12/ukrainian-banks-tested-by-taxhike-capital-changes-86653459.

17. Hac, L.D., Dinh, H.T., Nguyen, T.N., Bui, C.M., Phạm, N.T., Tran, T.D., & Tran, A.T. (2021). Enhancing risk management culture for sustainable growth of Asia commercial bank -ACB in Vietnam under mixed effects of macro factors. Entrepreneurship and Sustainability Issues, 8(3), 291-307. http://doi.org/10.9770/ jesi.2021.8.3(18).

18. чIriani, N., Agustianti, A., Sucianti, R., Rahman, A., Putera, W. 2024. Understanding risk and uncertainty management: A qualitative inquiry into developing business strategies amidst global economic shifts, government policies, and market volatility. Golden Ratio of Finance Management, 4(2), 62-77. https://doi. org/10.52970/grfm.v4i2.444.

19. ISO/IEC (2022). Information security, cybersecurity and privacy protection — Information security management systems – Requirements. Retrieved April 30, 2026 from https://www.iso.org/standard/27001.

20. Kacicka, G. (2023). Adaptive risk management in food industry enterprises: Integration of strategies and innovations in an environment of economic instability. International Interdisciplinary Scientific Journal” Expert”, 1(1), 73-88. https://doi.org/10.62034/2815- 5300/2023-v1-i1-006

21. Kumar, R. 2023. The role of financial forecasting in corporate decision-making and strategic planning. International Journal of Exploring Emerging Trends in Engineering, 10(2), 530-542. https://ijoeete.com/wpcontent/uploads/2025/01/76-rajesh-kumar.pdf

22. Makarychev, A., & Sazonov, V. (2025). Governmentality, financial security and money laundering: the Estonian case of Danske Bank. Security Journal, 38(1), 16. https://doi.org/10.1057/s41284-025- 00463-7

23. Mavlutova, I., Spilbergs, A., Verdenhofs, A., Natrins, A., Arefjevs, I., Volkova, T. 2022. Digital transformation as a driver of the financial sector sustainable development: An impact on financial inclusion and operational efficiency. Sustainability, 15(1), 207. https:// doi.org/10.3390/su15010207

24. Moody’s Investors Service. (2025). Financial Institutions – Ukraine. Retrieved April 30, 2026 from https://www.moodys.com/researchandratings/region/ europe/ukraine/04208C/005001

25. National Bank of Ukraine. (2025). Financial Stability Reports and Indicators. Retrieved April 30, 2026 from https://bank.gov.ua/ua/stability

26. National Institute of Standards and Technology. (2020). Security and privacy controls for information systems and organizations. Retrieved April 30, 2026 from https://csrc.nist.gov/pubs/sp/800/53/r5/upd1/final

27. Oschadbank. (2025). Financial reporting. Retrieved April 30, 2026 from https://www.oschadbank.ua/en/ finansova-zvitnist

28. OTP Bank. (2025). Bank reporting. Retrieved April 30, 2026 from https://www.otpbank.com.ua/about/ informations/annual-reports/

29. Oudat, M. (2021). Accounting information system and financial sustainability of commercial and Islamic banks: A review of the literature. Journal of Management Information and Decision Sciences, 24(5). https://doi. org/10.2139/ssrn.5147108

30. Poltorak, A., Potryvaieva, N., Kuzoma, V., Volosyuk, Y., & Bobrovska, N. (2021). Development of doctrinal model for state financial security management and forecasting its level. Eastern-European Journal of Enterprise Technologies, 5(13), 26-33. https://doi. org/10.15587/1729-4061.2021.243056.

31. PrivatBank. (2025) Financial statements. Retrieved April 30, 2026 from https://privatbank.ua/about/ finansovaja-otchetnost.

32. Qasim, S.S., & Anwar, M.M. (2022). Analyzing credit risk management in commercial banks: An exploratory research about the opinions of a sample of managers and heads of departments in selected commercial banks in Erbil City (2021). Iraq Journal for Economic Sciences, 20(73), 105–125. https://doi.org/10.31272/IJES2022.73.7

33. Raiffeisen Bank International. (2024). Annual Report. Retrieved April 30, 2026 from https://www. rbinternational.com/content/dam/rbi/ho/investors/ results-reports/annual-reports/rbi/2025-02-25%20 2024%20RBI%20Annual%20Report.pdf.coredownload. pdf.

34. Raouf, H., Ahmed, H. 2022. Risk governance and financial stability: A comparative study of conventional and Islamic banks in the GCC. Global Finance Journal, 52, 100599. https://doi.org/10.1016/j.gfj.2020.100599.

35. Rodrigues, A.R., Ferreira, F.A., Teixeira, F.J., & Zopounidis, C. (2022). Artificial intelligence, digital transformation and cybersecurity in the banking sector: A multi-stakeholder cognition-driven framework. Research in International Business and Finance, 60, 101616. https://doi.org/10.1016/j.ribaf.2022.101616.

36. Schweizer, P.J. (2019). Systemic risks-concepts and challenges for risk governance. Journal of Risk Research, 24(1), 78-93. https://doi.org/10.1080/13669877.2019.16 87574.

37. Siddique, A., Khan, M.A., Khan, Z. (2022). The effect of credit risk management and bank-specific factors on the financial performance of the South Asian commercial banks. Asian Journal of Accounting Research, 7(2), 182- 194. https://doi.org/10.1108/AJAR-08-2020-0071

38. Singireddy, S., Adusupalli, B., Pamisetty, A., Mashetty, S., Kaulwar, P.K. (2024). Redefining financial risk strategies: The integration of smart automation, secure access systems, and predictive intelligence in insurance, lending, and asset management. Journal of Artificial Intelligence and Big Data Disciplines, 1(1), 109-124. https://doi.org/10.70179/k86dcv60.

39. Sirenko, N., Atamanyuk, I., Volosyuk, Y., Poltorak, A., Melnyk, O., Fenenko, P. 2020. Paradigm changes that strengthen the financial security of the state through FINTECH development. In Proceedings of the 11th International Conference on Dependable Systems, Services and Technologies (DESSERT) (pp. 110-116). Kyiv: IEEE. https://doi.org/10.1109/ DESSERT50317.2020.9125026.

40. Ukreximbank. (2025) IFRS financial statements. Retrieved April 30, 2026 from https://www.eximb.com/ eng/menu/profile-ukreximbank/financial-statements/ifrsfinancials.html.

41. Ukrgasbank. (2025). Auditor’s report and financial results. Retrieved April 30, 2026 from https://www. ukrgasbank.com/en/about/fin_results/auditors_report/.

42. Ullah, A., Pinglu, C., Ullah, S., Qian, N., Zaman, M. 2021. Impact of intellectual capital efficiency on financial stability in banks: Insights from an emerging economy. International Journal of Finance & Economics, 28(2), 1858-1871. https://doi.org/10.1002/ijfe.2512.

43. Universal Bank. (2025) Financial reports. Retrieved April 30, 2026 from https://www.universalbank.com.ua/ financial-reports.

44. Vyas, A. (2025). Revolutionizing risk: The role of artificial intelligence in financial risk management, forecasting, and global implementation. https://papers. ssrn.com/sol3/papers.cfm?abstract_id=5224657.

45. Xie, X., & Wang, S. (2023). Digital transformation of commercial banks in China: Measurement, progress and impact. China Economic Quarterly International, 3(1), 35-45. https://doi.org/10.1016/j.ceqi.2023.03.002.

46. Xie, Z., Liu, X., Najam, H., Fu, Q., Abbas, J., Comite, U., Cismas, L.M., & Miculescu, A. (2022). Achieving financial sustainability through revenue diversification: A green pathway for financial institutions in Asia. Sustainability, 14(6), 3512. https://doi.org/10.3390/ su14063512.

47. Zaman, S.I., Khan, S.A., Qabool, S., & Gupta, H. (2023). How digitalization in banking improve service supply chain resilience of e-commerce sector? A technological adoption model approach. Operations Management Research, 16(2), 904-930. https://doi. org/10.1007/s12063-022-00341-0.

48. Zan, W. (2024). Integrated strategies in risk management and financial stability. In: Proceedings of the 2nd International Conference on Management Innovation and Economy Development (MIED 2024) (pp. 559-565). London: Atlantis Press. https://doi.org/10.2991/978-94- 6463-542-3_64.

49. Zhang, W., Siyal, S., Riaz, S., Ahmad, R., Hilmi, M.F., & Li, Z. (2023). Data security, customer trust and intention for adoption of Fintech services: An empirical analysis from commercial bank users in Pakistan. Sage Open, 13(3). https://doi.org/10.1177/21582440231181388.

50. Zhu, C., Zhu, N., Emrouznejad, A., & Ye, T. (2024). A new Malmquist productivity index with an application to commercial banks. IMA Journal of Management Mathematics, 35(2), 215-240. https://doi.org/10.1093/ imaman/dpad015.