: Does banking cord blood provide significant benefits? I am going to have first child soon and read a lot about cord blood. While childbirth, after child is already cut off then doctor takes some blood from umbilical cord.

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If you read the fine print, there are actually not a lot of conditions where your baby's cord blood has been proven to do anything, and most of the beenfits are for other people's children.
Here are some professional medical opinions; they agree; public banking is fine, private banking is not recommended. www.acog.org/clinical/clinical-guidance/committee-opinion/articles/2019/03/umbilical-cord-blood-banking
The American College of Obstetricians and Gynecologists makes the
following recommendations regarding umbilical cord blood banking:
Umbilical cord blood collected from a neonate cannot be used to treat
a genetic disease or malignancy in that same individual (autologous
transplant) because stored cord blood contains the same genetic
variant or premalignant cells that led to the condition being treated.
The routine collection and storage of umbilical cord blood with a
private cord blood bank is not supported by the available evidence.
The current indications for umbilical cord blood transplantation are
limited to select genetic, hematologic, and malignant disorders.
Private umbilical cord blood banking may be considered when there is
knowledge of a family member with a medical condition (malignant or
genetic) who could potentially benefit from cord blood
transplantation.
Public umbilical cord blood banking is the recommended method of
obtaining umbilical cord blood for use in transplantation, immune
therapies, or other medically validated indications.
Families of all ethnicities and races should consider the societal
benefit of public umbilical cord blood donation to increase the
availability of matched cord blood units for people of all
backgrounds.
Obstetrician–gynecologists and other obstetric care providers should
be aware of state and local laws regarding umbilical cord blood
banking, including the law in some states that requires physicians to
inform patients about umbilical cord blood banking options.
Health care providers with a financial interest in private umbilical
cord blood banking should disclose these interests, incentives, or
other potential conflicts of interest.
If a patient requests information about umbilical cord blood banking,
balanced and accurate information regarding the advantages and
disadvantages of public and private umbilical cord blood banking
should be provided.
A variety of circumstances may arise during the process of labor and
delivery that may preclude adequate collection.
Umbilical cord blood collection should not compromise obstetric or
neonatal care or alter routine practice of delayed umbilical cord
clamping with the rare exception of medical indications for directed
donation.
It is important to inform patients that the medical condition of the
woman or neonate may prevent adequate umbilical cord blood collection.
www.aappublications.org/news/2017/10/30/CordBlood103017

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Treatments using cordblood are legitimate but as @swbarnes2 has said, there are limited benefits to your child. Because if they have genetic weakness, then their own cord blood will also have that weakness. (Which is probably the case where you were reading about leukemia)
That being said, you (the father or mother) may be able to use the cordblood for yourself or if you have another child it may be useful to have for them and vice versa.
FWIW here is the NZ Midwife (largly unbiased) advice on the matter.
There is also the hope that more stem cell treatments will become available in the future. Say to treat senescence (old age) which would be amazing! But be cautioned, this is just a hope and may not happen.
You only get one chance to get the blood, and there is only a small chance you, your child or other children will use it, but it will be very useful if you do. So it is kinda like an insurance policy or a risky investment.
It is therefore important to weigh up the value of the cordbanking vs some other investment.
For example if cord banking costs ,000
If you invested that k in an index fund on behalf of your child (lets assume a moderate 8% return).

They could end up with k, when they turn 25 (say, to go towards a house deposit)

Or 5k when they retire (65)

A solid 5k could pay for a lot of other medical treatment, that cordblood may not be able to help with.

My take:
A k investment, is almost guaranteed to be moderately useful vs cord blood which has a low chance of be useful, but could be very useful if it is.
So I would go with both if you can afford it, otherwise go with a hands off index fund investment instead.