On March 9, 2022, the Financial Market Guarantee System will commence the payout of basic compensation for deposits to the clients of Sberbank CZ, a.s. through the branch network of Komerční banka

Prague, March 4, 2022 – On March 9, 2022, the Guarantee System will commence¹, through branches of Komerční banka, a.s., the payout of basic compensation for deposits to the clients of Sberbank CZ, a.s., with its registered office at U Trezorky 921/2, 158 00 Praha 5, company ID 250 83 325.

The Guarantee System will pay beneficiaries compensation equal to 100% of their deposits. However, this compensation may not exceed the basic limit of CZK 2,499,500 per depositor (an amount equivalent to EUR 100,000 at the exchange rate of CZK/EUR 24.995 announced by the Czech National Bank on February 28, 2022). The total amount of basic compensation to be paid out for this institution is CZK 24.2 billion.

Starting from March 9, 2022, deposit compensation may be collected by natural persons and legal persons that were depositors of Sberbank CZ, a.s. as of February 28, 2022, or, if appropriate, their heirs or legal successors.

To receive deposit compensation, clients of Sberbank CZ, a.s. need to present the following documents at a branch of Komerční banka:

natural persons – a valid identity document (an identity card, a passport or a Permanent Residence Permit),
natural persons who are entrepreneurs – a valid identity document (an identity card, a passport or a Permanent Residence Permit) and their business licence,
legal persons – the original, an officially certified copy or an electronically signed valid extract from the Commercial Register or other public register not older than three (3) months, and an identity document for the individual representing such legal person (a valid identity card, a passport or a Permanent Residence Permit). In the case of amounts exceeding the equivalent of EUR 15,000, other documents may also be required to verify the identity of the beneficial owner.

Non-cash payout of the compensation by correspondence is also possible – send a written instruction (a completed “Compensation Transfer Request” form) by mail to: Komerční banka, a.s., CKB department 2192, Václavské náměstí 42, Prague 1, postcode 114 07. The entitled person’s signature on the instruction must be officially certified. If the signature is to be certified outside the Czech Republic, the certification must be performed by an embassy of the Czech Republic.

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

If a depositor cannot collect their deposit compensation in person, they may authorize another individual to do so through an officially certified power of attorney issued exclusively for the payout of deposit compensation.

A sample power of attorney form, a sample form to help with the completion of the “Compensation Transfer Request” form, and a complaint form (in case of any complaint related to the compensation payout) are available for download here. Power of attorney and complaint forms will be also available at Komerční banka branches.

Important information for clients:

Clients who would prefer to receive their deposit compensation in excess of CZK 100,000 in cash are advised to notify the selected branch of Komerční banka of this at least two (2) business days in advance.
A list of Komerční banka branches selected for the payout of deposit compensation to the clients of Sberbank CZ, a.s. is available here.
Compensation can be collected no later than three (3) years from the payout start date, i.e. no later than March 10, 2025. Once this period expires, it will no longer be possible to make the payout.

Sources of up-to-date and additional information:

More details on the payout of deposit compensation, including the full list of the required documents and options for filing complaints, can be found:

on the Guarantee System’s website and on the information hotline +420 237 762 796,
at branches of Komerční banka, on its website and on the information hotline 800 521 521,
at branches of Sberbank CZ, a.s. and on its website .

Information about the commencement of the payout of institutional compensation for deposits (Section 41f(7) and (8) of the Act on Banks) and about the option to submit requests for the payout of increased compensation for insured deposits (Section 41ea of the Act on Banks) will be provided by the Guarantee System through separately published notifications.

¹ in accordance with Section 41d (6) of the Act on Banks, No 21/1992, as amended

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