17.10.2016

Notification to clients of ERB Bank, a.s.: The Financial Market Guarantee system will start the payout of basic compensation for deposit claims on 20 October 2016 through selected branches of Česká spořitelna, a.s.

Prague, 17 October 2016 – On 20 October 2016, the Financial Market Guarantee System (hereinafter the “Guarantee System”) will start the payout of compensation for insured deposits to clients of ERB bank, a.s., with its registered office at Štefánikova 78/50, 150 00 Prague 5, Company ID No. 284 28 943, through selected branches of Česká spořitelna, a.s.

The Guarantee System will pay compensation to entitled persons that equals to 100% of their deposits; however, this compensation may not exceed the basic limit of CZK 2,702,000 per depositor (an amount equivalent to EUR 100,000 at the rate of CZK/EUR 27.02, announced by the Czech National Bank on 11 October 2016). The total amount of compensation to be paid out for this institution is CZK 3.53 billion.

Notification:

The Financial Market Guarantee System notifies the clients of ERB bank, a.s. (hereinafter also “entitled persons”that on 20 October 2016 it will start the payout of basic compensations for deposit claims according to Section 41d (6) of Act No. 21/1992 Coll., on Banks, as amended. The payout of basic compensation for deposit claims to the entitled persons will take place at selected branches of Česká spořitelna, a.s for a period of three years from the payout start date, i.e. until 20 October 2019.

The following persons are eligible to receive basic compensation for deposit claims:

a)    natural persons and legal entities that were depositors as of 11 October 2016, i.e. on the day when the Guarantee System received a written notice from the Czech National Bank about the inability of ERB bank, a.s. to meet its commitments to entitled persons under legal and contractual conditions,

b)    their heirs,

c)    their legal successors.

Entitled persons must prove their entitlement by submitting the following documents:

  • natural persons – a valid identity document (an identity card or a passport),
  • natural persons who are entrepreneurs – a valid identity document (an identity card or a passport) and an extract from the Trade Register,
  • legal entities – the original, an officially certified copy or an electronically signed valid extract from the Commercial or other public register not older than 1 month and an identity document of the individual who represents the legal entity (a valid identity card or a passport). The payout to legal entities will be made in non-cash form only.

In the case of an heir or legal successor in other capacity, a document (the original or an officially certified copy) proving acquisition of the claim in question will be required.

If a depositor cannot collect their deposit compensation in person, they may authorize another individual to do so by an officially certified power of attorney issued exclusively for the payout of compensation for a deposit claim – a sample of this power of attorney is available for download at www.garancnisystem.cz/forms. The power of attorney form will also be available at selected branches of Česká spořitelna, a.s.

Important information for clients:

  • We notify clients who wish to collect their deposit compensation in cash to check the rules applicable to cash transactions at their chosen branch of Česká spořitelna, a.s.
  • The list of branches of Česká spořitelna, a.s. that have been selected for the payout of deposit compensation to clients of ERB bank, a.s., is available on the Financial Market Guarantee System’s website www.garancnisystem.cz (or at the toll-free telephone number of Česká spořitelna, a.s.: 800 207 207.

Sources of the latest and additional information:

More information on the payout of deposit compensation, including the full list of the required documents and the options to file complaints are available to entitled persons at:

  •         The Financial Market Guarantee System’s website www.garancnisystem.cz or Facebook page www.facebook.com/gsft.cz or at the Financial Market Guarantee System’s registered office, i.e. Prague 1, Týn 639/1, 2nd floor.
  •         At the branches of Česká spořitelna, a.s. and its website www.csas.cz or at the toll-free telephone number 800 207 207.
  • Information will also be made public at branches of ERB bank, a.s. and on the website www.erbank.cz.
News Next >>