Information for clients of Sberbank CZ, a.s.: Erroneous information contained in a letter from the Financial Market Guarantee System. The letter is for information only and does not impact client claims

Prague, 17 March 2022 – Erroneous information was contained in a letter dated March 7, 2022 providing Sberbank CZ clients with information on deposit insurance, including their legitimate claim.

The following sentence was inserted into the letter by the bulk mail processor without the knowledge of the Guarantee System:

“The Financial Market Guarantee System has received information from the insolvency administrator of Československé úvěrní družstvo in liquidation, according to which you have on the basis of ...”,

This letter, addressed to Sberbank CZ clients, naturally exclusively concerns compensation for deposits held with Sberbank CZ. We would like to assure the addressees of this letter that all other facts concerning deposit compensation, i.e. in particular information on the amount of compensation and the organization of deposit compensation, are in accordance with the documents provided to the Guarantee System by Sberbank CZ. No claims of Sberbank CZ clients are impacted by the erroneously inserted sentence. The letter sent by the Guarantee System is for information only and it is not necessary to produce this letter when claiming compensation for deposits held with Sberbank CZ.

The erroneously inserted sentence comes from communication by the Guarantee System with clients of Československé úvěrní družstvo in December 2021. A contractor was responsible for the substitution, and it arose only after the wording of the prepared information letters was checked and approved by the Guarantee System. The Guarantee System thus had no possibility of detecting this discrepancy. The bulk mail processor is currently investigating where and how the error occurred.

We apologize for any inconvenience caused. You can view a version of the letter containing the correct information in its introduction here.

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