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Croatian National Bank made Decision on the unavailable deposits in Credo banka d.d. Split in November 23, 2011. causing thus occurrence of a deposit-guarantee event pursuant to the Deposit Insurance Act (NG 177/04, 119/08 and 153/09 – further on the Act.) On the day of deposit-guarantee event occurrence, the State Agency for Deposit Insurance and Bank Rehabilitation became obliged to proceed with compensation procedure. Accordingly, the State Agency for Deposit Insurance and Bank Rehabilitation hereby publishes, pursuant to Article 6, item 5

INVITATION
FOR THE
DEPOSITORS-CREDITORS OF CREDO BANKA D.D. SPLIT
- IN ENFORCED LIQUIDATION -
TO SUBMIT THEIR CLAIMS FOR COMPENSATION

In order to exercise their right to compensation in respect of insured deposits in Credo banka d.d. Split – in enforced liquidation, the State Agency for Deposit Insurance and Bank Rehabilitation (further on 'the Agency') invites depositors-creditors entitled to compensation to submit their Claims for Compensation as of December 1, 2011 (further on 'the Claim').

WHO IS ENTITLED TO COMPENSATION

Deposits of natural persons, companies and non-profit organizations will be compensated, except those mentioned in Article 3, item (2) of the Act as follows:

• members of a bank's management board or supervisory board and parties holding at least 5% of the equity capital of Credo banka d.d. Split,
• creditors in respect of deposits that are not registered deposits, but deposits to an anonymous bearer of an encrypted password,
• creditors who made deposits with Credo banka, d.d. Split on terms and conditions significantly more favourable than standard conditions, or made on such financial terms and conditions as have contributed to a deterioration in the financial standing of Credo banka d.d. Split,
• creditors acquiring deposits or portion thereof upon withdrawal of the working license for Credo banka d.d. Split by the Croatian National Bank,
• creditors in respect of deposits arising out of transactions for which criminal convictions have been pronounced against certain persons for concealment of illicit proceeds,
• companies regarded under the Accountancy Act as medium-sized or large companies being subject to the application of the said Act,
• the auditor of the last audited financial statements of Credo banka d.d. Split and,
• the parent company and the dependent companies forming a group together with Credo banka d.d. Split

CLAIM FOR COMPENSATION

Depositor – creditor of Credo banka who is entitled to compensation will receive the Compensation Form in the 'Payout' Bank.

Compensation Form is filled in with data received by Credo banka, containing information on depositor-creditor, on amounts of all deposits computed in kunas at the mean exchange rate of the Croatian National Bank as applicable at the date of making decision on deposit unavailability, and on any liens created on a deposit in Credo bank on that particular day (23 November, 2011), including calculated amount of compensation.

If the depositor-creditor agrees with data written in the Form, he/she shall sign it in front of the 'payout'-bank's employee and submit it for compensation, presenting original documentation on deposit.

RIGHT TO CLAIM SUBMISSION

Right to Claim submission has the owner of the deposit or person authorized to submit the Claim.

The person authorized to submit the Claim can be:

• Legal representative of the company or non-profit institution,
• Proxy of the company, non-profit institution or natural person,
• Legal representative of the minor, guardian/legal representative of a natural person.

IDENTIFICATION OF DEPOSITOR/CREDITOR

The owner of deposit – natural person must identify himself with ID or passport.

Legal representative of the company or non-profit institution must present the original document from the court register or from some other relevant register, not older than 30 days, or authorized copy of the document or some other relevant documentation.
Proxy of the company and non-profit institution must present the authorized original of special power of attorney for claim submission and compensation, signed by the legal representative of company or non-profit institution.
Proxy of a natural person must present authorized original of Special power of attorney for claim submission and compensation, signed by the deposit owner.
Legal representative of a minor must present the original or authorized copy of the birth certificate of the minor, who is the bearer of the Claim and Compensation Order.
Guardian/legal representative of the natural person – must present the original or authorized copy of valid Resolution made by the Social Service as evidence of right to submit the claim.

The signature of a person authorizing another person to act on his/her behalf by Special power attorney must be authorized by the public notary, or by domestic or foreign relevant body, authorized person of diplomatic or consular representative office of the concerned state or the Republic of Croatia. Power of attorney must be written in Croatian language or translated into Croatian and authorized by the public notary.

The proxy cannot use the same power of attorney he had during the regular performance of Credo banka in respect of deposits, but must submit the Special power of attorney for claim submission and compensation. This form can be obtained in the branches of the payout banks or on their web sites.

DATE OF CLAIM SUBMISSION

The date of signing and submitting the claim in the payout bank will be considered as the official data of claim submission.

TIME LIMIT FOR CLAIM SUBMISSION

Deponents-creditors of Credo banka are obliged to submit the Claim within 12 (twelve) months since the date of publishing this Invitation.

COMPENSATION

Natural persons will be compensated in cash or via account transfer. Companies and non-profit institutions will be compensated via account transfer.

Creditor's right to compensation shall be determined in relation to the aggregate funds available on all of its deposits at the time of the occurrence of the deposit-guarantee event, upon deduction of all claims of the credit institution thereon that may be set off against it, up to and including HRK 400,000.00.

PAYOUT BANKS

Banks determined for payouts:

Croatia banka d.d. Zagreb
Hrvatska poštanska banka d.d. Zagreb

Compensation will be exercised in all branches of those banks.

RECLAMATION

Depositors – creditors who are entitled to compensation but don't agree with data in the Claim or for whom the Claim hasn't been issued, should initiate reclamation procedure. Such depositors-creditors shall fill in the Form for the Compensation Claim – reclamation, attach requested documentation and submit it to the State Agency for Deposit Insurance and Bank Rehabilitation, Zagreb, Jurišićeva 1, in person or via post.

This Form is available:

• in 'Payout' Banks
• on internet: www.dab.hr
• in Agency's offices

The Agency is obliged to examine the submitted claims without delay and to comply with its obligations accordingly within 30 days upon receipt of a full claim in due form.

QUESTIONS

All questions can be forwarded to
- phone number: 01 48 13 222
- fax machine number: 01 48 19 107
- e-mail: dab@dab.hr
- address: 10000 Zagreb, Jurišićeva1/II

Zagreb, December 01, 2011

State Agency for Deposit Insurance and Bank Rehabilitation