Financial Market Guarantee System to Conclude Deposit Compensation Payout to Clients of Československé úvěrní družstvo

Prague, August 9, 2024 - The deposit compensation payout to clients of the failed Československé úvěrní družstvo began on August 11, 2021. The Guarantee System will conclude the payout of unclaimed compensations on August 12, 2024, after the three-year period. So far, CZK 51.245 million has been paid out.

Until Monday, August 12, 2024, clients of the failed Československé úvěrní družstvo in insolvency can withdraw compensation for the funds they had deposited at the time of the cooperative's collapse. Although the Gurarantee System has already paid out nearly 98% of the total funds designated for compensation, there is still CZK 1.1 million left to be claimed.

So far, 468 clients who are entitled to compensation have not yet claimed it. These clients can still collect their compensation at any selected branch of Komerční banka, a.s. by Monday, August 12, 2024. Unclaimed funds will remain in the Guarantee System and will be used for future deposit compensation payouts.

The deposit compensation payout for ČSÚD was one of the smallest payouts managed by the Guarantee System in terms of the amount paid and the number of clients. Additionally, payout to clients of Sberbank CZ are still ongoing and will be concluded in February next year.

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