Nemea Bank plc depositors





To: Nemea Bank plc depositors

Compensation to the depositors of Nemea Bank plc (“Bank”) is being processed following a determination by the Malta Financial Services Authority (“MFSA”) on the 30 March 2017, regarding the inability for the time being of the said Bank to repay deposits placed by its depositors. The MFSA has made this determination in terms of Article 8(1) of Legal Notice 383 of 2015.

On the basis of information disclosed by the Bank to the Malta Depositor Compensation Scheme (“Scheme”) pursuant to regulation 20 of the Depositor Compensation Scheme Regulations, the Scheme is proceeding to process the payment of compensation to depositors who have held deposit / s with the Bank which are eligible to compensation from the Scheme. For this reason it is not necessary for depositors to submit a claim to the Scheme.

The protection provided by the Scheme is subject to a maximum compensation of €100,000 for the aggregate deposits of each depositor.

In addition, the maximum compensation sum payable for a temporary high balance is EUR 500,000. These limits are equivalent to those mandated by Directive 2014/49/EU on deposit guarantee schemes.

Such protection runs for six months from the date when the amount is credited or becomes legally transferrable, whichever is the later date. Eligibility for such higher protection is dependent on additional criteria as outlined on the Scheme’s website and the filing of a written claim together with such other information that the Scheme considers relevant. Further information about the compensation process relating to the Bank is available online at www.compensationschemes.org.mt. Further contact details are available at this link.

Published date: 30 March 2017