The Financial Market Guarantee System is to commence the payout of increased compensations for insured deposits at Sberbank CZ, a.s.

Prague, 27 June 2022 - The Financial Market Guarantee System is to commence the payout of increased deposit compensation to Sberbank CZ, a.s. clients on 28 June 2022. Payouts will continue for three years at branches of Komerční banka.

The payout of increased compensations only applies to eligible natural persons who submitted applications for increased compensation by 28 April 2022 and who have demonstrated compliance with the legal conditions for such payout. The Guarantee System will pay such persons increased compensation above the basic limit of CZK 2,499,500 (an amount equivalent to EUR 100,000 at the exchange rate of CZK/EUR 24.995 announced by the Czech National Bank on 28 February 2022), up to an additional amount of CZK 2,499,500 per depositor.

The Guarantee System received 309 applications within the statutory deadline, and six after the deadline. To date, 51 applications for a total amount of over CZK 71 million have been approved for payout. For 71 applications, the Guarantee System is waiting for documents from Sberbank CZ a.s. needed to assess compliance with increased compensation payout conditions. The remaining applications did not meet the legal conditions for increased compensation payout. The applicants will be notified of the settlement of their applications in writing.

The approved applications concerned deposits resulting from the sale of residential properties, inheritance, the payout of supplementary pension insurance or the payout of severance pay, meaning cases listed in the law as admissible for increased compensation payout.

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