FKTK invites Latvijas Krājbanka depositors to apply for guaranteed compensation

Latvian Finance and Capital Market Commission (FKTK) invites depositors of the liquidated Latvijas Krājbanka who were not 18 years old in June 2014 to apply for a guaranteed compensation by 31 December 2029, as reported by FKTK representatives.
Depositors who were minors at the time or their authorized representatives are able to receive guaranteed compensation by contacting Citadele Bank.
In accordance with 27 May 2021 amendments to the Deposit Guarantee Law, depositors of Latvijas Krājbanka who were minors in June 2014 are eligible to receive a compensation by 31 December 2029. The depositors who do not apply for compensation by then will lose their right to receive a guaranteed compensation.
Riga Regional Court declared Latvijas Krājbanka insolvent on 23 December 2011. On 8 May 2021 the court decided to satisfy the request from KPMG Baltics auditor company to commence the bank’s bankruptcy procedure.
On 21 November 2011 FKTK decided to halt all financial operations of Latvijas Krājbanka. This decision was made due to the shortage of finances in the bank. Latvijas Krājbanka’s license as a credit institution was annulled by FKTK on 10 May 2012.