The payment of insured savings deposits to Credo Banka clients will start on Thursday, December 1, when creditors will be able to submit compensation claims at Hrvatska Postanska Banka (HPB) and Croatia Banka, the director of the State Agency for Deposit Insurance and Bank Rehabilitation (DAB), Vinko Radic, told a news conference on Tuesday.
The operating license of Credo Banka from Split has been revoked and the bank is undergoing forced liquidation.
A total of 10,048 citizens and 20 legal entities/small businesses are entitled to the payment of insured deposits (in the amount of up to HRK 400,000).
The total deposits of physical persons with Credo Banka amount to HRK 608 million, of which DAB will pay to citizens HRK 420 million in insured savings.
The remaining HRK 188 million is non-insured deposits and the owners cannot count on that money, as that amount refers to deposits of above HRK 400,000, Radic said.
According to DAB figures, the deposits at Credo Banka of 1,480 companies amount to HRK 220 million. Small-sized enterprises, 1,414 of them, will be affected the most by the bank's forced liquidation. They deposited a total of HRK 161.7 million at Credo Banka.
DAB said that payments to physical persons would be made in cash or via bank transfers, while payments to legal entities would be done exclusively by bank transfer.
DAB also said that detailed instructions on the payment of deposits would be published in all Croatian dailies.
