RIGA - Client guarantees of up to EUR 100,000 will be paid out to the clients of the now suspended PNB Banka from August 22, Financial Capital and Markets Commission (FKTK) spokeswoman Jelena Lebedeva said today.
“Clients of Latvian banks are protected by the state, and this applies to both domestic and overseas clients in Latvia. The government’s deposit guarantee system provides solutions in this kind of situation which ensure the protection of client deposits. We have made all efforts to find a bank which can offer the most suitable solutions for the interests of clients, and have made arrangements for the disbursement of guaranteed compensation; we have also involved the State Social Insurance Agency to ensure that PNB Banka clients receive their benefits and pensions as quickly and conveniently as possible,” she said.
Citadele Bank will pay out the guaranteed compensation to PNB Banka customers.
For private persons with an existing Citadele account, these persons must fill in an application for the disbursement of their compensation through the online bank or in a Citadele branch. Their compensation will be transferred to their Citadele account.
Meanwhile, for private persons without a Citadele account, these persons must go to a Citadele branch, show their identification and receive their compensation via transfer to your account in any financial institution.
Private persons who are overseas residents must call Citadele to arrange a meeting. Then they must visit Citadele’s Head Office at 2A Republikas Laukums in Riga show their identification and receive their compensation via transfer to your account in any financial institution.
Meanwhile, legal entities are asked to call Citadele and arrange a meeting. They then should go to the arranged Citadele branch, show their identification and open a Citadele account or receive their compensation via transfer to their account in any financial institution.
As the FKTK points out, according to law, client guarantees must begin to be paid out to clients no later than eight days after their bank accounts have become unavailable.
Every PNB Banka customer will be paid out up to EUR 100,000 from the Deposit Guarantee Fund, approximately EUR 279 million.