In the month since Citadele Bank began paying out state-guaranteed compensation to ABLV Bank clients, compensation has been paid to a total of almost 5,000 ABLV Bank clients. The total sum paid out from the 3rd of March to the 3rd of April was 83 million Euro.
Figures show that local Latvian ABLV Bank clients have been the most active in applying for state-guaranteed compensation. From almost 5,000 customers to have received state-guaranteed compensation, 4,033 were local Latvian residents or legal persons. Meanwhile, 922 were international clients.
In accordance with the Deposit Guarantee Law, state-guaranteed compensation can be paid out to Latvian and international clients of ABLV Bank - private persons and legal persons - with deposits at ABLV Bank. State-guaranteed compensation applies to all deposits - term deposits, current accounts, wage accounts, savings accounts, etc., (excluding financial instrument accounts.)
For clients’ convenience, both private and legal persons are invited to book an appointment at the bank through our 24-hour phone line at +371 67010076 or by applying through the Citadele website. Citadele’s employees will offer the most convenient available time and branch to receive compensation.
In general, the payment of state-guaranteed compensation is proceeding calmly. However, we ask clients to bear in mind that they may have to wait if they come to the bank without an appointment. The busiest time is around lunchtime, so we encourage clients to choose the afternoon, when there is less activity, for a bank appointment.
Of the five branches which are disbursing state-guaranteed payment, the busiest has been observed to be the “Mols” customer service centre, and the least busy has been the Jurmala branch. Therefore we ask clients to choose the Jurmala branch for their appointments when possible, or, if in Riga, the “Citadele” branch at Republikas laukums 2A or the “Laimdota” branch at Kr. Barona ielā 20-1.
Remember, those clients who use Citadele’s online bank can apply for state-guaranteed compensation through the Citadele online bank and do not need to go to a branch. Meanwhile, Latvian residents and legal persons can apply to open a Citadele account at any of Citadele’s 30 branches throughout Latvia before applying for state-guaranteed compensation through Citadele’s online bank.
State-guaranteed compensation for Latvian residents and legal persons is being issued simultaneously at four branches in Riga and one in Jurmala: “Citadele” (Riga, Republikas laukums 2A), KAC "Skanste" (Riga, Skanstes iela 50), KAC "Mols" (Riga, Krasta iela 46), the "Laimdota" branch (Rīga, Kr. Barona iela 20 – 1), the Jurmala branch (Jūrmala, Jomas iela 30).
Meanwhile, international clients can claim their state-guaranteed compensation at the “Citadele” branch (Riga, Republikas laukums 2A). International clients are also requested to book an appointment at the bank in advance through our 24 hour phone line at +371 67010076 or on the Citadele website www.citadele.lv.
As reported, Citadele has been providing state-guaranteed compensation to ABLV Bank clients since the 3rd of March.
State-guaranteed compensation can be claimed for the next five years - up to the 3rd of March 2023.
In accordance with the Deposit Guarantee law, ABLV Bank’s Latvian and international clients - private customers and legal persons - with deposits in ABLV Bank are eligible for state-guaranteed compensation. State-guaranteed compensation applies to all of a depositor’s funds - term deposits, current accounts, wage accounts, savings accounts, etc., (excluding financial instrument accounts).
Each depositor can receive compensation of up to 100,000 Euro - depending on how much was deposited in the specific client’s ABLV Bank accounts.
Those clients whose total deposit sum with ABLV Bank is more than the 100,000 Euro limit set by the Deposit Guarantee law can submit their claims as creditors as part of the ABLV Bank liquidation process.
In accordance with the contract with the Latvian Financial Capital Market Commission, compensation will only be paid in EUR, in one transaction.
State-guaranteed compensation can be paid out via transfer to the client’s account at Citadele Bank or any other bank or financial institute. Transfers can also be made to ABLV Bank loan repayment accounts to cover any credit obligations.
For clients with deposits in ABLV Bank up to 1,000 Euro, compensation may also be paid in cash at the “Citadele” branch; however, Citadele encourages ABLV Bank depositors to collect their state-guaranteed compensation via transfer for security reasons.
Where to ask any questions
If you have any questions on where and when to receive compensation, anyone is welcome to contact Citadele 24 hours a day:
- by calling Citadele’s Call Centre on its 24-hour number +371 67010076,
- by writing through Citadele’s internet bank.
If you have any questions on the amount of compensation or recognising a person as a depositor, please contact the FCMC. By phone: 67774800, 67774801, 67774831. By email: fktk@fktk.lv. Address: Kungu iela 1, Riga, LV-1050.