And if they come in… What will happen to our money on bank deposits?

The good news is that the banking system works during war – this is what is happening in Ukraine, despite temporary power cuts. But the Russians do not occupy all of Ukraine, only a relatively small part of it – about 20 percent. areas in the east and south of this country.

However, the National Bank of Ukraine has imposed a new obligation on banks – they must accumulate fuel supplies for backup generators that will last for seven days.

Business as usual. Greater profits year on year

Ukrainians use banking services as before. They can easily pay by cards, make transfers and use electronic banking. Moreover, financial institutions provide loans and easily support the current operations of Ukrainian companies.

Helen Mychalczenko, president of ING Ukraine, announced during the first conference on the reconstruction of Ukraine organized by ING Bank that only one client decided to resign from cooperation with the bank, citing the threat of war.

Polish companies also still operate in Ukraine, including Cersanit, Unibep, Fakro, Barlinek, Polimex Mostostal, LPP, and PZU. Moreover, in 2025, the total revenues of Polish enterprises abroad increased by 20% year on year.

It is true that Cersanit announced the suspension of operations at its plant in western-northern Ukraine for at least six months after a ceramics factory was struck by drones, but the company does not intend to withdraw from Ukraine anyway.

War-resistant banks. Only temporary disruptions

Today, the functioning of financial institutions is protected by demanding digital resilience regulations, which are intended to limit the risk of disruptions to banking systems. Moreover, keeping savings in a bank account is generally safer than keeping them at home, which does not rule out diversifying savings in this way.

It is true that a failure of the Internet, mobile networks (GSM) or electricity may prevent the use of ATMs and card payments, but as the example of Ukraine shows – only temporarily.

Also crucial is the guarantee limit of the Bank Guarantee Fund to the equivalent of PLN 100,000. euro. In crisis situations, exchange rate fluctuations, including the PLN/EUR ratio, may also be important.

Agreement between the government and the president? Cyprus took citizens’ money

Specialists point out that during conflicts, quick legal decisions are possible that may affect the functioning of the state and economy, as well as banks.

In Poland, at the request of the Prime Minister, the President may issue decrees having the force of law, which are approved by the Sejm. Could this have an impact on Poles’ savings? It is difficult to say, also due to the specific climate of reluctance between the government and the president, which does not weaken.

In this context, however, it is worth mentioning the example of Cyprus from 2013, when, in the face of the threat of bankruptcy of leading Cypriot banks, deposits above the guaranteed amount, i.e. above PLN 100,000. euro, were frozen and subjected to a forced reduction of 47.5%. To prevent mass cash withdrawals, the Cypriot government closed banks for almost two weeks. Strict limits on ATM withdrawals and a ban on capital transfers abroad were also introduced.

Thus, it turned out that in conditions of extreme systemic crisis, the state can still reach for the money of wealthier citizens in order to save financial stability.