On 22 April, 2022, the Financial Market Guarantee System will commence the payout of compensation for deposits to the institutional clients of the bankrupt Sberbank CZ, a.s. through the branch network of Komerční banka

Prague, April 21, 2022 – On April 22, 2022, the Guarantee System will commence1, through branches of Komerční banka, a.s., the payout of institutional compensation for deposits2 to the clients of Sberbank CZ, a.s, with its registered office at at U Trezorky 921/2, 158 00 Praha 5, company ID 250 83 325.

These institutional clients include:

  • payment institutions
  • small-scale payment services providers
  • electronic money institutions
  • small-scale electronic money issuers
  • investment firms on whose accounts there are funds constituting a customer’s property according to legislation governing capital market business
  • bailiffs on whose accounts there are funds for eligible and registered creditors according to the Act on Enforcement Proceedings.

Currently, there are 17 bailiff's offices holding accounts for more than 17,700 clients.

The Guarantee System will pay to institutional clients compensation for deposits of each of their customers whose funds were recorded as of February 28, 2022 in the institutional client’s account kept with Sberbank CZ, a.s, However, this compensation may not exceed the limit of CZK 2,499,500 per customer (an amount equivalent to EUR 100,000 at the exchange rate of CZK/EUR 24.995 announced by the Czech National Bank on February 28, 2022). If a customer of an institutional client becomes entitled to compensation for another deposit kept with Sberbank CZ, a.s, the above limit will be reduced by the amount of that entitlement.

The payout of institutional compensation for deposits to entitled persons will take place through the branch network of Komerční banka. A list of branches selected for the payout of deposit compensation to institutional clients is available on the Guarantee System’s website.

Institutional clients of Sberbank CZ, a.s. need to prove their entitlement through the original, an officially certified copy, or an electronically signed valid extract from the Commercial Register or other public register not older than three (3) months, and an identity document for the individual representing the legal person (a valid identity card or a passport).

It is possible to authorize another individual to collect the compensation through an officially certified power of attorney issued exclusively for the payout of deposit compensation. A sample power of attorney form and a complaint form (in case of any complaint related to the compensation payout) are available for download here. Power of attorney and complaint forms will be also available at Komerční banka branches.

Compensation can be collected no later than three (3) years from the payout start date, i.e. no later than April 22, 2025 Once this period expires, it will no longer be possible to make the payout.

Sources of up-to-date and additional information:

More details on the payout of deposit compensation, including the full list of the required documents and options for filing complaints, can be found:

  • on the Guarantee System’s website and on the information hotline +420 237 762 796,
  • at branches of Komerční banka, on its website and on the information hotline 800 521 521,
  • at branches of Sberbank CZ, a.s. and on its website .

1 in accordance with Section 41d(7) of the Act on Banks, No 21/1992, as amended

2 deposit compensation in accordance with Section 41f(7) and (8) of the above law

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