Deposit insurance after the purchase of Expobank CZ by Banka Creditas
Prague, 20 September 2022 – Banka Creditas has completed its acquisition of Expobank CZ, a.s. following positive statements from the Czech National Bank and the Office for the Protection of Competition. The two banks have declared they will operate independently in the coming years. In this context, the Financial Market Guarantee System is notifying clients with deposits in both these institutions that the acquisition will have no impact on deposit insurance at this time.
Both legal and natural persons with deposits in both banks will continue to benefit from a deposit insurance limit of EUR 100,000 per person per financial institution. This is because according to the new owner, Banka Creditas and Expobank CZ, a.s. will continue to operate as separate institutions.
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