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Home  Information service Information on insurance for deposits at VÚB, a.s., Prague
Information on insurance for deposits at VÚB, a.s., Prague
Information on insurance for deposits at VÚB, a.s., Prague
Dear Clients,
In respect to the accession of the Czech Republic and the Slovak Republic to the European Union, we would like to inform you that since 1 May 2004 VÚB, a.s., Prague Branch (hereinafter referred to as the “Branch”) has been operating in the Czech Republic based on the so-called Unified European Banking License, i.e. the license provided by a banking supervisory authority (central bank) in the home country of the bank, similarly to other branches of foreign banks whose central office is in the European Economic Space (i.e. in EU countries, Iceland, and Lichtenstein),
This means that the activity of our Branch in the Czech Republic as the host country is subject to the banking supervisory authority of the home country, in our case the National Bank of Slovakia. For this reason, the deposit insurance system is being changed since deposits of clients of the Branch doing business based on the Unified License are insured within the Slovak system of deposit protection.
Based on Act No. 118/1996 of Col., Deposit Protection, in its latest amendments (hereinafter referred to as the “DPA,” full text of the DPA you will find here and for its latest amendment, Act No. 554/2004 of Col. click here, all banks doing business based on the banking license issued by the National Bank of Slovakia are obligated to participate in the Slovak system of deposit protection in the required scope and contribute to the so-called Deposit Protection Fund. The Slovak system of deposit protection respects the requirements of Directive of the European Parliament and Council No. 1994/19/EC from 30 May 1994, Deposit Protection Systems, in its latest amendment (the text of the Directive was published in the Official Bulletin of the European Community L 135 from 31 May 1994).
To compare the basic parameters of the deposit protection system based on regulations of the CR and the SR.
Although there is only a very slight probability that you would have to use the aforesaid system thanks to the financial power and efficiency of VÚB, a.s. and the majority owner of our bank, Italian bank Banca Intesa, we feel that we should inform you about the system of protection of your deposits.
This information does not list all your rights arising from the deposit insurance system. In the case that you would like to get more information about this issue, please contact us
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