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Sberbank and VTB24 begin to pay insurance indemnities to Master Bank depositors

About 144,500 Master Bank depositors may apply for insurance indemnity for a total of about 31.2 billion rubles

© ITAR-TASS/Anton Novoderezhkin

MOSCOW, December 04. /ITAR-TASS/. Sberbank (savings bank) of Russia and VTB-24 (foreign trade bank) begin to pay insurance indemnities to Master Bank depositors on Wednesday. The procdure will continue until December 4, 2014.

In accordance with the Federal Law "On the Insurance of Deposits by Natural Persons at the Banks of the Russian Federation", each depositor will get 100% of resources deposited with the bank if their aggregate amount does not exceed 700,000 rubles.

About 144,500 Master Bank depositors may apply for insurance indemnity for a total of about 31.2 billion rubles ($937.5 million), according to the Deposits Insurance Agency.

Master Bank's license revoked

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