19:53 / 25.02.2022.

Author: Katja Miličić

Sberbank customers in Croatia panic as US sanctions hit Russian banks

Customers line up to withdraw their deposits in Split

Customers line up to withdraw their deposits in Split

Foto: Marino Marinčić / HRT

The sanctions imposed by the US on Russian banks sparked a run on Sberbank in Croatia on Friday but Croatian officials said the vast majority of their deposits were safe.

Hundreds of Sberbank's Croatian customers started lining up early Friday morning in front branches in Zagreb and Split to withdraw their savings.


Croatia's Deposit Insurance Agency and the Croatian National Bank is reassuring the public there is no need to panic. Under Croatian regulations, all personal deposits of up to 100 thousand euros are insured, both institutions stated.


Finance Minister Zdravko Marić explained that US sanctions did not apply to Russian bank branches in certain EU member states, including Croatia. He also said if that were to change, the vast majority of customers would still not be affected.


"Without speculating what future steps may be taken, if it comes to the worst scenario in terms of the bank's ability to operate, the deposits are insured. The pensions they earned are also not threatened in any way," Marić said.


Sberbank has around 70 thousand customers in Croatia. The vast majority hold less than 100 thousand euros in their accounts. Only around 100 customers exceed this amount.


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