Deposit insurance after the merger of Banka Creditas and Max banka

Prague, 21 August 2024 - With effect from 1st October 2024, this merger by acquisition will result in all assets of Max banka a.s. being legally transferred to Banka CREDITAS a.s. The Financial Market Guarantee System notifies clients who have deposits with both these institutions that this merger will also have an impact on statutory deposit insurance. A common limit of EUR 100 000 per person for this merged entity will apply to clients from the date of the merger.

A bank involved in the merger has a statutory obligation^[1] to inform its clients of such a transaction at least one month before the final merger takes place.

Banka CREDITAS has already done so through its Declaration dated 20 August 2024.

After a bank provides information about the merger in this way, clients may withdraw, or transfer to another bank, their funds that exceed the statutory insurance limit within the next three months without penalty, regardless of whether they are current, savings accounts or term deposits.

[1] Section 41s of Act No 21/1992, on banks, as amended.

Back to the list of news