4a1fcb2e-dde4-4f7c-a881-9b7b4cb19dfc20240614030010982wseas:wseasmdt@crossref.orgMDT DepositWSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS2224-28991109-952610.37394/23207http://wseas.org/wseas/cms.action?id=40161320241320242110.37394/23207.2024.21https://wseas.com/journals/bae/2024.phpOlhaDzhyhoraDepartment of National Security, Public Management and Administration, Faculty of National Security, Law and International Relations, Zhytomyr Polytechnic State University, Zhytomyr, UKRAINEKarpikaSerhiiDepartment of Law Enforcement and Anti-Corruption Activities, Interregional Academy of Personnel Management, Kyiv, UKRAINELeonidMilmanDepartment of Management, Marketing and International Logistics, Chernivtsi Institute of Trade and Economics of the State University of Trade and Economics, Chernivtsi, UKRAINENataliiaMaslakDepartment of Finance, Banking and Insurance, Economics and Management Faculty, Sumy National Agrarian University, Sumy, UKRAINESergiiBratushkaDepartment of Cybernetics and Informatics, Faculty of Economics and Management, Sumy National Agrarian University, Sumy, UKRAINEThroughout the conflict in Ukraine, a multitude of adverse ramifications stemming from hostilities were observed within the sphere of banking activities and the overarching financial system. Such consequences encompassed disruptions in the operational continuity of banking branches, leading to closures attributable to the destruction of infrastructure and shelling incidents. The primary objective of this article is to undertake a comprehensive analysis of the repercussions of hostilities on the banking system, the financial sector, and the ensuing prospects for recovery within the context of the conflict. The methodology employed in this study is grounded in a structural analysis of key performance indicators of banks and economic standards pertinent to the banking system. The temporal scope of the analysis encompasses the years 2016-2023. The findings underscore the significance of systemic and sustained reforms directed towards upholding financial stability and macroeconomic equilibrium, with a specific focus on the pivotal role played by the financial sector and banks. The pragmatic significance of this study lies in the identification of essential tools pivotal for preserving the financial stability of the financial sector during periods of war.6142024614202414491460119https://wseas.com/journals/bae/2024/c445107-025(2024).pdf10.37394/23207.2024.21.119https://wseas.com/journals/bae/2024/c445107-025(2024).pdf10.1016/j.frl.2022.103036Qureshi, A., Rizwan, M. S., Ahmad, G., & Ashraf, D. (2022). Russia–Ukraine war and systemic risk: who is taking the heat, Finance Research Letters, 48, https://doi.org/10.1016/j .frl.2022.103036. 10.1016/j.pacfin.2022.101876Umar, Z., Polat, O., Choi, S. Y., & Teplova, T. (2022). Dynamic connectedness between non-fungible tokens, decentralized finance, and conventional financial assets in a timefrequency framework. Pacific-Basin Finance Journal, 76, https://doi.org/10.1016/j.pacfin.2 022.101876. Orhan, E. (2022). The effects of the RussiaUkraine war on global trade. 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