According to the law, the disbursement of guaranteed compensation shall be available not later than on the 8th working day following the occurrence of the unavailability of deposits. Each customer of JSC "PNB Banka" will be paid the guaranteed compensation up to EUR 100 000. Approximately EUR 279 million are needed for the payment of guaranteed compensation to JSC "PNB Banka's" customers. The guaranteed compensation payments will be fully covered by the funds from the Deposit Guarantee Fund (DGF), and no funds from the State budget will be needed for that purpose. 

 

 

Jeļena Ļebedeva, head of the FCMC Resolution and Guarantee Funds Division: “The State protection covers deposits of Latvian bank customers and it relates both to domestic and foreign customers in Latvia. The existing national Deposit Guarantee Scheme provides solutions for ensuring the protection of customers' deposits in such situations. We have made every effort to find a bank that can offer the most appropriate solution in the interests of customers and have also developed procedures for organizing the guaranteed compensation payment process, as well as involved the State Social Insurance Agency to enable the JSC "PNB Banka" customers to receive their benefits and pensions as quickly and easy as possible.”

 

 

The FCMC has entrusted the guaranteed compensation payments to JSC “Citadele banka”, assessing it as the most appropriate solution for the bank's customers and considering the bank's technical supply to start the disbursement of guaranteed compensation as soon as possible. JSC "Citadele banka" has confirmed its readiness to carry out the disbursement of guaranteed compensation.

 

 

Please note that you are not required to go to the branch of JSC "Citadele banka". Your guaranteed compensation will be automatically transferred to your account in JSC "Citadele banka". The banking consultant will inform the SSIA on further transfer of payment to JSC AS "Citadele banka". Within 6 months from the beginning of compensation payment you have to provide a confirmation to the SSIA whether you want to receive payments in JSC "Citadele banka" in future as well.

 

As from 22 August 2019, please visit specified branches of JSC "PNB Banka" taking your passport or ID card with you for signing documents. The account will be automatically opened at JSC "Citadele banka" and guaranteed compensation transferred to your account. Online banking will be available immediately after you have signed the documents. Within 2 working days you will receive your payment card by post and you will be able to use it for payment settlements and cash withdrawals. Fill in an application to the SSIA for receiving benefits/pensions in JSC "Citadele banka" in the future or notify the SSIA of your desire to receive your benefits/pensions in the account of another bank. 

 

Please fill in an application for receiving the guaranteed compensation online or in the branch of JSC "Citadele banka". Your guaranteed compensation will be transferred to the account in JSC "Citadele banka" or to an account in any other financial institution.

 

Please visit a branch of JSC "Citadele banka", identify yourself and receive the guaranteed compensation transfer to your account in any financial institution.

 

Please call the JSC "Citadele banka" and make appointments. Visit the branch of JSC "Citadele banka" (address: Republikas laukumā 2A, Riga), identify yourself and receive the guaranteed compensation transfer to your account in any financial institution.

 

Please call the JSC "Citadele banka" (phone +371 67010000) and make appointments. Visit the indicated branches of JSC "Citadele banka", identify yourself and open an account in JSC "Citadele banka" or receive the guaranteed compensation transfer to your account in any financial institution.

 

For those customers who have to go to JSC "Citadele banka": In order to ensure a smooth payment process, we remind the customers before visiting JSC "Citadele banka" to make sure that current customer's identity documents are at JSC "PNB Banka's" disposal or customer identification information is up to date.

 

Latvian Deposit Guarantee Scheme provides for guaranteed compensation up to EUR 100 000 for each customer. It shall be paid to both natural and legal persons for all types of deposits in any currency. The guaranteed compensation applies to the bank customer funds, accrued deposit interest until the date of occurrence of the unavailability of deposits.