Oschadbank chief says bank branches work in occupied territories as long as possible

11 June, 12:40 PM
How Oschadbank works in the temporarily occupied territories (Photo:Oschadbank / Flickr)

How Oschadbank works in the temporarily occupied territories (Photo:Oschadbank / Flickr)

Branches of Oschadbank continue to operate in the temporarily occupied territories even after Russian invasion forces enter a settlement, the chairman of the state-owned savings bank, Serhiy Naumov, has written in a column for NV Business.  

"We don’t work in the temporarily occupied territories, but the branches don’t stop working the moment the invaders enter a settlement,” Naumov said. 

“Until (the Russians) get to the branch, we try to work. Of course, (in the end work) is prevented by the impossibility of receiving cash replenishments." 

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According to Naumov, the only way to keep cash circulating in the occupied territories is to collect it from clients — trade enterprises – and then in turn to distribute cash to the clients of Oschadbank who need it, and who line up for this service. 

"Of course, we’re not able to fully meet the demand for cash,” Naumov said. 

“At the same time, until the last day of work, my colleagues do everything possible to meet at least some of the needs of our customers.” 

He said branches of Oschadbank only stop working when armed invaders turn up on their doorsteps. 

"Most often, using foul language, they propose that bank employees side with them and continue working for a Russian banking institution,” Naumov said. 

“This doesn’t work: we do not have any confirmed cases of our colleagues going over to the side of the enemy. 

“This is followed by threats, after which our colleagues have no choice but to hand over the keys to the office and leave it. Obviously, everything valuable from there is mostly taken out by the bank in advance. 

“What happens next in these offices — we know only from open sources, like everyone else. We closely monitor this information. Relevant statements about the damage are sent by the bank to law enforcement agencies.” 

He also added that wherever enemy troops retreat from the occupied territories, Oschadbank gradually resumes operations. 

"We’ve already resumed the work of 63 branches in liberated territory: 13 institutions in Kyiv Oblast, 18 in Sumy Oblast and 32 in Chernihiv Oblast," Naumov said.

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