Press release 26 September 2014 Due to the liquidation of ALBA Cooperative Savings Bank the National Deposit Insurance Fund (NDIF) has to pay nearly HUF 12 billion in indemnities to 13,183 customers. Pursuant to the Act on cooperative credit institutions, 40 percent of deposit portions above the EUR 100,000 threshold will be paid by Takarékbank to the affected depositors in the assigned savings bank branches. The indemnification of the 12,000 individual depositors and nearly 1,000 legal entities will start next week. NDIF will pay a total of HUF 11.9 billion to 13,183 depositors of ALBA Cooperative Savings Bank (hereinafter: the Savings Bank) in indemnities. The indemnification of 97% of the… Read More
Continue ReadingAbout the indemnification of the depositors of ALBA Cooperative Savings Bank
ANNOUNCEMENT In its resolution No. H-JÉ-I-317/2014 the National Bank of Hungary revoked the operating licence of ALBA Cooperative Savings Bank (registered office: 8000 Székesfehérvár, Táncsics Mihály u. 2.) and the court has ordered its liquidation. Consequently, pursuant to Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises (Hpt.) NDIF will start the indemnification of depositors on 18 September 2014, and will complete the process within 20 working days. Amount of indemnification Pursuant to the above Act, NDIF will make personalised payments on deposit and interest claims calculated up to 17 September 2014 in the amount of maximum HUF 31,396,000, i.e. the HUF equivalent of maximum EUR 100,000 per… Read More
Continue ReadingNDIF to start the indemnification process of the depositors of ALBA Cooperative Savings Bank
Press release 18 September 2014 The National Deposit Insurance Fund (NDIF) is starting the indemnification of the depositors of ALBA Cooperative Savings Bank, and will finish the process within 20 working days. The customers of the savings bank can be entitled to the forint equivalent of maximum EUR 100,000 (maximum HUF 31,396,000) per person, depending on whether they are individual or corporate customers. NDIF is about to start the indemnification of the depositors of ALBA Cooperative Savings Bank, and will finish the process within 20 working days, by 15 October at the latest, after the court ruling about the liquidation of the savings bank was published in the Corporate Gazette… Read More
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