In two weeks, Komerční banka processed 50,400 applications from Sberbank CZ clients and paid out deposit compensations for CZK 19.1 billion, which is 79 percent of deposits, according to Komerční banka spokesman Pavel Zúbek. The financial market guarantee system began paying out deposit compensations to clients of Sberbank CZ, which has ties to Russia, on Wednesday last year through Komerční banka’s branches. In total, there are about 106,000 clients and a payout of CZK 24.2 billion. Reimbursements will be paid to Sberbank clients for three years, ie until March 2025.
The guarantee system will pay out 100 percent of clients’ deposits through Komerční banka, up to a maximum of CZK 2,499,500 per depositor. The amount corresponds to the koruna’s exchange rate against the euro on 28 February. By law, a deposit of up to 100,000 euros is insured. Not only companies or individuals had money in Sberbank, but also some regions and municipalities. For example, the Vysočina Region has CZK 2.4 billion left in the bank.
It is possible to withdraw cash at 40 selected branches of Komerční banka, where the opening hours will be extended from 08:00 to 18:00. Cashless payments are possible at all 241 branches of Komerční banka.
The financial market guarantee system did not start paying out deposit receivables to institutional clients of Sberbank CZ on Monday. The reason was that Sberbank CZ did not provide him with the necessary documents. The fund announced on its website today that it has suspended the payment of deposit compensations to clients in insolvency proceedings who are in debt mode. He refers to the opinion of the Ministry of Justice, according to which the fund should pay compensation to insolvency administrators. This concerns about 6,000 Sberbank clients.
On Monday, February 28, the Czech National Bank announced that it had initiated steps to revoke the Sberbank CZ banking license. Both the guarantee system and Komerční banka have published detailed instructions on their websites on how to proceed with disbursements.
Source: Komerční banka and CTK
