Sberbank lost its license to operate in the Czech Republic, the National Bank of the Czech Republic reported. The company, registered in the Czech Republic, is linked to the Russian Sberbank, in which the majority of shares are owned by the Russian central bank.
The problems of the Czech company Sberbank began after the Russian invasion of Ukraine. The Czech National Bank filed a case against Sberbank on February 28, four days after the start of the Russian invasion of Kyiv. But the reason was a significant outflow of deposits, which was the customer’s reaction to Russian aggression against Ukraine. As a result, the bank ceased to be solvent.
In mid-April, the Central Bank of the Czech Republic withdrew the license issued to Sberbank. The company had 15 days to file an appeal but did not take that opportunity. The decision of the National Bank of the Czech Republic became final, and Sberbank lost its license to operate in the country.
At the request of the Central Bank, the court will now appoint a trustee whose task will be to cash out the company’s assets and pay off debts. Some customers have already returned their money through the guarantee fund. However, there is a limit of 2.5 million crowns on withdrawals from it. According to the Czech Press Agency, some local governments still have their assets in Sberbank – for example, the country of Vysočina, whose deposits amount to more than 2 billion crowns.