The payout of insured deposits from Sberbank CZ is nearing its conclusion, with just a few weeks remaining. Over a quarter of a billion Czech korunas still await their rightful owners.

Prague, 21 January 2025: The largest payout of insured deposits in the history of the Czech deposit insurance system, in terms of the total amount of funds, will end in just a few weeks. Sberbank CZ succumbed to a so-called bank run in late February and early March 2022. “Due to massive withdrawals and transfers of funds out of the bank, Sberbank CZ lost its liquidity, and the Czech National Bank was forced to declare that the bank could no longer meet its obligations. As a result, the Financial Market Guarantee System initiated the payout of insured deposits within seven working days, disbursing the funds through Komerční banka branches,” explained Renáta Kadlecová, Executive Director of the Financial Market Guarantee System.

To date, more than 90,000 out of a total of over 121,000 clients have claimed their insured deposits , which, by law, include money held in current, savings, or term deposit accounts up to the equivalent of EUR 100,000. The Guarantee System has paid out more than CZK 25.63 billion.

By law, clients of the failed bank have three years to claim their insured deposits. The deadline for claiming funds deposited in Sberbank CZ is March 10, 2025. Approximately CZK 258 million remains unclaimed, distributed as follows:

• 25,200 individual depositors (Czech residents) are entitled to CZK 121.9 million.
• 2,300 legal entities (Czech residents) are entitled to CZK 54.8 million.
• 3,200 non-residents are entitled to CZK 81.3 million.

It is common for some clients not to claim their insured deposits. “Often, these are accounts with only a few korunas remaining, for which it is not worthwhile for clients to go to the bank. In this case, there may also be individuals who would have to travel to the Czech Republic to claim their deposits, which can be particularly challenging for Ukrainian and Russian citizens. These depositors can apply for payouts by correspondence, but this also entails certain costs,” explained Renáta Kadlecová.

Unclaimed funds will remain with the Guarantee System and will be used for future payouts of deposits. Among the more than 30,000 Sberbank CZ clients who have yet to claim their insured deposits:

• 13,900 clients have payouts below CZK 100 (approximately 40% of these have amounts under CZK 10).
• 415 clients have payouts exceeding CZK 100,000.
• 46 clients have payouts exceeding CZK 1 million.

To claim insured deposits, clients can go to any poboček Komerční banka branch and provide proof of identity (for individuals) or proof of identity and an extract from the Trade Register (for self-employed persons). Legal entities must present an original or officially certified copy of a valid extract from the Commercial Register (or other relevant public register), not older than three months, along with proof of identity for the authorized representative.

If a depositor cannot collect the payout in person, they may authorize another person through a notarized power of attorney. The power of attorney form is available on the websites of the Financial Market Guarantee System and Komerční banka and can also be obtained at Komerční banka branches. For those preferring a correspondence-based payout, a completed and notarized Compensation transfer request form must be sent to the paying bank's address.