Depositors of the insolvent AS PNB Banka are requested to receive the guaranteed compensation by 15 August 2024

In accordance with the provisions of Paragraph four of Section 3 of the Deposit Guarantee Law, the depositors of the insolvent AS PNB Banka, who are eligible for the guaranteed compensation but will fail to receive it by the given deadline, will lose their right to receive the guaranteed compensation as from 16 August 2024.

Latvijas Banka requests the depositors of the insolvent AS PNB Banka, who have not yet received the guaranteed compensation, to take all the necessary steps to receive it by 15 August 2024.

The disbursement of the guaranteed compensation to the depositors of the insolvent AS PNB Banka is provided by AS Citadele banka. More information is available on the website of AS Citadele banka.

In accordance with Paragraph seven of Section 19 of the Deposit Guarantee Law, if, within five years from the day the deposits become unavailable, a sworn bailiff or tax (fees) administration has not applied recovery of financial means of a depositor, the restrictions imposed by the sworn bailiff or tax (fees) administration on the disbursement of the guaranteed compensation shall expire. Consequently, the depositors of the insolvent AS PNB Banka, who have restrictions imposed by a sworn bailiff or the State Revenue Service for receiving the guaranteed compensation by 15 August 2024 (e.g. payment transactions have been suspended or funds in the account – temporarily frozen), will be eligible for the guaranteed compensation, which will be available within five years starting from 16 August 2024.

Meanwhile, the depositors for whom the disbursement of the guaranteed compensation has been deferred pursuant to Paragraph one of Section 27 of the Deposit Guarantee Law, will have an opportunity to receive it when the circumstances underpinning the deferral of the guaranteed compensation cease to exist.

The guaranteed compensation totalling 266 million euro was disbursed to the depositors of the insolvent AS PNB Banka by 31 December 2023 with 46 208 depositors receiving the guaranteed compensation. The remaining amount of the guaranteed compensation not yet disbursed constitutes 8.9 million euro. 14 989 depositors, including 805 non-residents, have not yet received the guaranteed compensation.