The Czech court announced the bankruptcy of the “daughter” of “Sberbank”

The Prague City Court announced on Friday the bankruptcy of Sberbank CZ (“Sberbank – Czech Republic”), a subsidiary of the largest Russian bank, should from a notice in the insolvency register. The court decided that the company was unable to fulfill its financial obligations to creditors and decided to sell all of its property to the debtor to fulfill obligations.

In response to the court’s decision, the bank’s borrowers filed a complaint. The court will issue a verdict on this case at a hearing on October 6, after which a meeting of creditors will be held on the same day.

The Prague Municipal Court opened a case on the insolvency of Sberbank CZ at the end of July. Then it turned out that the total amount of the bank’s debt is 61.76 billion kroons (about €3 billion). The bank turned out to be insolvent and, according to data for June, overdue obligations in the amount of 42.3 billion crowns (about €1.5 billion).

In addition to individuals and companies, large amounts in the bank were also kept by some localities of the Czech Republic: 2.4 billion crowns (€96 million) were located near the Vysočina region, 53 million crowns (€1.8 million) near the Pardubice region, near the city of Svitavy – 72 million crowns (€2.1 million), Chrudim had 26 million crowns (more than €1 million), as well as the Moravian-Silesian Region, which invested 2.4 billion crowns (€101 million). At the same time, the total nominal value of the bank’s property is estimated at 51 billion crowns (€ 2.1 million).

In the Czech Republic, Sberbank suspended the work of branches on February 25 due to a sharp outflow of deposits, attacks on employees and the aggressiveness of customers after the start of the special operation. On March 1, the bank finally gone from the European market due to “abnormal outflows” and employee safety concerns, excluding Switzerland.

Sofia Cooperwaser