Bank of Lithuania

Today, 28 November, the State enterprise “Indėlių ir investicijų draudimas” selected the banks, through which insurance compensations will be paid to individuals and enterprises that held their funds at AB bankas SNORAS

The State enterprise “Indėlių ir investicijų draudimas” selected AB SEB bankas as the bank that will pay insurance compensations to individuals. All banks that expressed their interest in contributing to the implementation of this important function ‑ payment of insurance compensations ‑ were selected for the payment of insurance compensations to legal entities. Insurance compensations for legal entities will be paid in the following banks: in Vilnius region – AB SEB bankas, in Kaunas region – AB Ūkio bankas, in Klaipėda region – Danske bankas, in Šiauliai region – AB Šiaulių bankas, in Panevėžys region – Nordea bankas, in Alytus and Marijampolė regions ‑ AB bankas Swedbank, in Telšiai and Utena regions – AB DnB bankas, in Tauragė region – UAB Medicinos bankas.

Audrius Misevičius, Member of the Board of the Bank of Lithuania, noted that the banks will only perform the money payment function, while deposits will be compensated by the State enterprise “Indėlių ir investicijų draudimas”.

“Currently, depositors do not need to take any actions, it means that they do not need to apply anywhere or to provide information about the deposit they had. All data about it will be provided to banks by “Indėlių ir investicijų draudimas”. It is expected that this will be done in the nearest time”, said Audrius Misevičius.

When selecting the bank for the payment of compensations to individuals, consideration was taken to ensure that the network of bank branches where former AB bankas SNORAS depositors will be serviced is as wide as possible, thus creating possibilities to individuals to receive their insurance compensations in AB SEB bankas branches in the same location, where AB bankas SNORAS operated and provided services. When selecting the bank, it was also sought to ensure as low costs as possible both for the State enterprise “Indėlių ir investicijų draudimas” and to individuals receiving insurance compensations in this bank.

Currently, all required preparatory works needed to ensure smooth payment of compensations (preparation of the lists of depositors, data checking, preparation of information systems and other required works) are coordinated between the State enterprise “Indėlių ir investicijų draudimas” and banks.

It should be noted that neither individuals, nor enterprises should rush to banks, it is also not necessary to take any additional actions to inform banks or to provide any data to them, since all required information will be received by banks from the State enterprise “Indėlių ir investicijų draudimas”.

Banks and the State enterprise “Indėlių ir investicijų draudimas” will publicly inform about the procedure of payment.

The possibility to control the funds will be restored by the end of the year.