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Liburkina L. M.

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Financial Sustainability of the Banking System: The Theoretical Foundations of a Holistic Approach from Stress Resistance to Resilience
Nazarova T. Y.

Nazarova, Tetiana Yu. (2026) “Financial Sustainability of the Banking System: The Theoretical Foundations of a Holistic Approach from Stress Resistance to Resilience.” Business Inform 2:267–274.
https://doi.org/10.32983/2222-4459-2026-2-267-274

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
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UDC 336.71:005.334

Abstract:
This article is devoted to the theoretical understanding of the financial sustainability of the banking system within a holistic framework, which involves moving from a narrow interpretation of sustainability as stress resistance to comprehending it as multidimensional resilience. Based on the systematization of contemporary international research in corporate risk management (ERM), macroprudential policy, cyber resilience, ESG/CSR-oriented sustainability, and ecological financial theory (EFT), as well as an analysis of the evolution of approaches to the financial sustainability of Ukraine’s banking system under the influence of successive waves of crises (2008–2009, 2014–2015, the COVID-19 pandemic, and the full-scale war since 2022), the article substantiates the need to abandon a fragmented, predominantly indicative view of sustainability. An interpretation of financial sustainability is proposed as an integral resilient property of the banking system, formed at the intersection of microprudential (CAMELS), macroprudential, network, operational-cyber, institutional, behavioral, and ESG dimensions. The scientific novelty lies in conceptualizing a holistic approach to the financial sustainability of the banking system as an integrated model that combines indicative metrics, regulatory instruments, the network structure of interconnections, operational and cyber resilience, and sustainable development into a single system of integral resilience. The practical significance of the results obtained lies in the possibility of using the proposed theoretical provisions as a methodological basis for the further operationalization of the holistic approach in the toolkit of the National Bank of Ukraine and commercial banks – in particular, when improving financial sustainability assessment models, stress testing systems, operational and cyber resilience frameworks, and the integration of ESG factors into the national financial supervision system.

Keywords: financial sustainability of the banking system, resilience, holistic approach, macroprudential policy, ERM, operational and cyber resilience, ESG-oriented development.

Bibl.: 8.

Nazarova Tetiana Yu. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Finance, National Technical University «Kharkiv Polytechnic Institute» (2 Kyrpychova Str., Kharkіv, 61002, Ukraine)
Email: [email protected]

List of references in article

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Olulon T. M. (2024). The Impact of Enterprise Risk Management (ERM) on Firm Value in Times of Economic Crisis. International Journal of Research Publication and Reviews, 10(5), 242–255. https://doi.org/10.55248/gengpi.5.1024.2711
Oluloni T. M. (2024). ERM Strategies for Navigating Financial Stress: Lessons from US Commercial Banks. Finance & Accounting Research Journal, 10(6), 1861–1880. https://doi.org/10.51594/farj.v6i10.1634
Papuashvili D. (2023). Cyber Resilience Implications for the Financial System. Business Administration Research Papers, 8(a). https://doi.org/10.62232/barp.8.2023.6774

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