The purpose of the article is to study the problem of bank crisis management and to develop actions on the improvement of current situation in banking sector of Ukraine. In order to ensure the effectiveness of bank crisis management it is necessary not only to assess and control banking risks, but also to solve the most urgent problems in this area. The majority of bank crisis management systems today require the immediate improvement through adoption of adequate management decisions and efficient use of internal resources. In the modern conditions, the formation of a crisis management mechanism in the banking sector in general and in each individual bank requires a reorientation of the National Bank and the managers of banks on early identification of potential problems and on the risk tendency from one or another bank itself. This includes the development and implementation of new approaches to assessing the quality of banks' activities, developments of trust and cooperation between banking institutions and regulators. The important element of such mechanism should be the preparations that includes the high quality planning of crisis procedures, the improvement of the bank supervision content, the strengthening of market discipline and transparency of Ukrainian banks. Based on the experience of foreign countries, authors propose to develop and implement new approaches and mechanisms of bank crisis management that forms a clear strategic orientation on a timely basis; to identify the problems of bank crisis management and the ways of solving them; to formulate the set of measures that will neutralize the problems of bank crisis management. With effective crisis management mechanism, banking institutions will be able to adapt to changes in the external and internal environment, function and develop despite economic, political and social changes in the world.