Thus far, 94 million Euro, or 34% of the total sum to be paid out, has been disbursed in state-guaranteed compensation, and a total of 19,200 PNB Banka clients have received their money. To continue disbursement of guaranteed compensation as effectively as possible, changes have been made to the opening hours at PNB Banka branches.

“From August 22nd, looking at the flow of customers and analysing the number of clients served at each PNB Banka branch, we along with the Financial Capital Market Commission (FCMC) and PNB Banka have made the decision to open an additional client service location in Daugavpils. We have also decided to alter the opening hours of those branches which are less in demand, to enable us to target our resources at locations with a larger flow of clients,” explains Citadele Board Member Vladislavs Mironovs.

From September 2nd, the following PNB Banka branches will now be open for recipients of SSIA pensions and benefits:

Riga:

• 11 Raiņa bulvāris, Riga, M–F: 9.00-18.00, S: 10.00-14.00, Sun.: closed

• 26 Stirnu iela, Riga, M–F: 09.00–19.00, S: 10.00-16.00, Sun.: closed

• 21 Ernesta Birznieka-Upīša iela, Riga, M–F: 09.00–18.00, S: closed, Sun.: closed

• 1A Kurzemes prospekts, Riga, M–F: 09.00–19.00, S: 10.00-16.00, Sun.: closed

• 27 Mazā Nometņu iela, Riga, M–F: 09.00–18.00, S: 10.00-14.00, Sun.: closed

• 23 Augusta Dombrovska iela, Riga, M–F: 09.00–19.00, S: 10.00-14.00, Sun.: closed

Outside Riga:

• 59 Rīgas iela, Daugavpils. M–F: 09.00–18.00, S: closed, Sun.: closed

• 3 Valkas iela, Daugavpils, M–F: 09.00–18.00, S: closed, Sun.: closed (opens September 3rd)

• 18 Katoļu iela, Jelgava. M–F: 09.00–13.00, S: closed, Sun.: closed

• 25 Talsu šoseja, Jūrmala. M–F: 09.00-19.00, S: 10.00-15.00, Sun.: closed

• 45 Graudu iela, Liepāja. M–F: 09.00–18.00, S: closed, Sun.: closed

• 103 Atbrīvošanas aleja, Rēzekne. M–F: 09.00–19.00, S: 9.00-15.00, Sun.: closed

• 16 Aleksandra iela, Ventspils M–F: 09.00–19.00, S: 9.00-15.00, Sun.: closed

The PNB Banka branches in Cēsis and Madona will still accept applications for state-guaranteed compensation until August 30th (inclusive), and those in Bauska, Jēkabpils, Kuldīga, Salaspils, Talsi and Valmiera until August 31st (inclusive). Afterwards, PNB Banka clients will be able to claim their guaranteed compensation from the Citadele branches in these and surrounding cities. PNB Banka branches in these cities will continue to provide other customer services, e.g. issue account statements and written certificates, provide consultations etc.

The mass media has reported mixed messages on the state-guaranteed compensation disbursement process, especially with regard to SSIA pension and benefits recipients. Therefore, as we continue the disbursement process, we wish to once again emphasise what SSIA pension and benefits recipients must do in order for the disbursement process to go as smoothly as possible.

If an SSIA pension or benefits recipient had deposits in their PNB Banka account up to August 15th, but didn’t have a Citadele account, then:

1. They must go to one of the 13 PNB Banka branches throughout Latvia, bringing their passport or ID in order to sign some necessary documents;

2. They must fill in the necessary documents for the disbursement of compensation at the branch;

3. They must fill in an SSIA application at the branch for their benefits or pension to be transferred to a Citadele or other bank account. Regardless of the bank they choose for receiving their pension or benefits, PNB Banka consultants will submit the applications they receive to SSIA. This means that the client does not need to go in person to the SSIA office.

If an SSIA pension or benefits recipient had deposits in their PNB Banka account up to August 15th, and have a Citadele account, then:

1. Their state-guaranteed compensation will be automatically transferred to their Citadele account;

2. The SSIA pension or benefits recipient must inform the SSIA themselves about which account they would like to use to receive their pension or benefits—Citadele or another account.

If an SSIA pension or benefits recipient had no deposits in their PNB Banka account up to August 15th:

1. The SSIA pension or benefits recipient must inform the SSIA themselves about which account they would like to use to receive their pension or benefits.

The state-guaranteed compensation process for PNB Banka clients began on August 22nd and was entrusted by the FCMC to Citadele. To make the payment process more efficient and to organise the flow of clients, each PNB Banka client group has a separate process for receiving state-guaranteed compensation.

99.2% of PNB Banka clients will receive their deposits in full in the form of guaranteed compensation. All deposit sums up to 100,000 Euro are covered by the Deposit Guarantee Fund (DGF), and will be paid to their owners. Guaranteed compensation applies to wages, pensions, client deposits and any interest accrued before August 15th 2019.

More information for PNB Banka Clients:
PNB Banka information line: 67041100
Financial and Capital Market Commission (FCMC) email for PNB clients: pnbbanka@fktk.lv

Infographics