Participation in deposit guarantee scheme and guaranteed compensation amount
The bank is a member of the deposit guarantee scheme of theRepublicofLatvia. The deposit guarantee scheme is established and operates in accordance with the Deposit Guarantee Law. It has been developed in order to guarantee a compensation to depositors for deposits made in a bank, that have become unavailable, i.e. in case the bank cannot pay to the Customer their deposit because the Finance and Capital Market Commission has annulled a licence of the scheme’s member and the court has declared that the respective bank must be liquidated or has made a decision to initiate the bankruptcy procedure of the respective bank.
Irrespective of the date when the deposits were made, the guaranteed compensation to each depositor for the deposit made in the bank is guaranteed in the amount of the deposit, but not exceeding EUR 100,000. This means that the depositor has guaranteed deposits (if there are several) up to the above amount.
Click here for more information about The Deposit Insurance Fund.