March the 1st, 2022 - We recently wrote about Croatian Sberbank clients lining up outside Sberbank in Split and Zagreb to withdraw their cash as countries across Europe and the rest of the world imposed harsh sanctions on Russia following its recent invasion of Ukraine. How safe are Croatian Sberbank savings in reality?
As Poslovni Dnevnik/Ana Blaskovic writes, the sense of general nervousness over sanctions imposed against Russian banks by many countries has resulted in the aforementioned queues in front of Sberbank's branches in both Zagreb and Split as Croatian Sberbank savings are withdrawn. The Croatian Deposit Insurance Agency says, however that ''there is no reason to panic, Croatian Sberbank savings are safe regardless of the war and the sanctions''.
“The deposit insurance system has been in place for more than twenty years now, there is no reason to panic about deposits in any bank. At the moment, Sberbank Croatia has slightly more than 69,952 clients, of which 69,858 clients are insured and protected,'' said the director of the Agency, Marija Hrebac. All deposits up to 100,000 euros have been secured, and DAB currently has over 5.6 billion kuna at its disposal.
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The Croatian National Bank (CNB/HNB) has stated that the impact of the sanctions imposed against Russia following the invasion of Ukraine is divided.
"Given the first initial insight into European sanctions, Sberbank Croatia is not directly affected. However, there are also American sanctions, and under them are all institutions, including Sberbank Croatia,'' explained Vice Governor Michael Faulend, saying that the CNB will continue to look into all of the effects.
He said that the Croatian banking system was "very stable and well-capitalised and that it was important to emphasise that Sberbank occupies approximately two percent in this system. If something were to happen to the bank in an undesirable scenario, its impact on the financial system would not be so disruptive to overall relations,'' he assured those with Croatian Sberbank savings.
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