Loans of Sberbank CZʼs clients will be transferred to Česká spořitelna and financial funds from the sale used to settle creditorsʼ receivables

4. 4. 2023

Prague, 5 April 2023: Česká spořitelna has completed the purchase of the loan portfolio of Sberbank CZ. The funds paid for the purchase of the portfolio will be used to satisfy the creditors of Sberbank CZ. The transfer of the loan portfolio, save for non-performing and otherwise problematic loans, was confirmed by registration in the Commercial Register on [5] April 2023. Česká spořitelna paid CZK 41.053 billion for the loan portfolio with the nominal value of CZK 47.1 billion, and the transfer of Sberbank CZʼs clients to Česká spořitelna will take place
during April.


We are pleased to have helped resolve the situation of Sberbank CZʼs creditors and at the same time to be able to provide our services to clients to whom Sberbank CZ has provided mortgage and other loans in the past,” says Daniela Pešková, a member of Česká spořitelnaʼs Board of Directors.


During April, the necessary data on client loans will be transferred from Sberbank CZ to Česká spořitelna. At the time of the transfer, these clients will still be able to repay their loans and deal with urgent matters related to the administration of the transferred loans through Sberbank CZ, but from 1 May 2023, they will be fully serviced by Česká spořitelna. The contractual terms and conditions of the loans, including the interest rates agreed with Sberbank CZ, will not change with the transfer of the loan portfolio to Česká spořitelna. Therefore, until the end of April, clients will repay their loans to accounts with Sberbank CZ, and from 1 May they will repay their loans to new accounts with Česká spořitelna. All clients will be informed in writing about the details of further loan repayments during April.


By settling the purchase agreement with Česká spořitelna, we have obtained key financial funds needed to satisfy the receivables of Sberbank CZʼs creditors. At the moment, we are also in the process of finalizing the sale of corporate bonds being part of Sberbank CZʼs bankruptcy
assets and we have opened a tender procedure for the sale of the remaining part of the bankʼs loan portfolio
,” says JUDr. Jiřina Lužová, insolvency administrator of Sberbank CZ, adding: “I, therefore, believe that we will be able to settle the receivables of our creditors in the form of a partial distribution in the second half of this year.” The purchase price obtained, while maintaining the current interest rate, together with the bankʼs already available cash (including accrued interest) and the expected proceeds from the monetization of Sberbank CZʼs other assets, will be sufficient to fully satisfy the creditors in the first group (GSFT) and the second group (individuals and small and medium-sized companies), and most likely to satisfy almost 100% of the creditors in the third group (regions, cities, municipalities and large companies). The overall settlement schedule will only be available at the end of the insolvency proceedings after the final report will have been drawn up.


At the moment, I can state that in terms of its nature and size, the insolvency of Sberbank CZ is among the largest and most successful insolvencies in the history of the Czech Republic. It has confirmed that the rescue system set up in the Czech Republic works very well. I would
like to extend my thanks to all those who participated in the entire process, especially Česká spořitelna
,” added Lužová.


Jiřina Lužová

Insolvency Trustee

Sberbank CZ, a.s. v likvidaci