Questions and answers

Regarding the transaction in general and the transfer of customer information and the contracts

The Industra Bank has acquired PrivatBank business of servicing individuals and legal entities, which encompasses customer accounts, loan and lease contracts, deposits, as well as securities and real estate, which belong to the bank.

Now that the permission by FCMC for transaction implementation has been received, the banks have agreed to implement the transfer on 20 August, 2022. We will individually inform each customer regarding the detailed transfer plan and the practical transfer aspects, using all the means of communication, which are at our disposal – by sending a letter by mail, by e-mail, through the PrivatBank internet bank. We will also draw attention of the customers to the sent information through SMS.

Both banks have undertaken to implement the transfer of servicing from one bank to another in as flowing manner as possible. We will personally inform each customer in detail regarding the course of transfer. It is important to note that the account balances, deposits and loans, inter alia, leases and credit limits of payment cards of customers, will be transferred to Industra Bank automatically, and will remain in effect in accordance with current provisions. The customers do not have to conduct additional activities in relation to transfer to Industra Bank.

PrivatBank will ensure servicing of Your accounts, deposits and loans up until 19 August 2022 (inclusive). This means that, up until the indicated date, it is required to send applications, orders, documents, inter alia, insurance policies or requests regarding current contracts, as well as payments for covering loan liabilities, to PrivatBank. Beginning with 20 August, 2022, You will be serviced by Industra Bank.

In order to implement transfer in as flowing manner as possible, up until 30 November, 2022, regarding your servicing, Industra Bank will continue to apply the General Regulations on Transactions and the Price List, which are currently in effect in PrivatBank. These documents, together with other practical information regarding the transfer, will be found at the Industra Bank website, in the section particularly dedicated to the PrivatBank customers. In its turn, as from 1 December, 2022, during legal relations in relation to Your servicing, the General Regulations on Transactions and the Price List of Industra Bank will be applied. You can get familiarized with the General Regulations on Transactions and the Price List of Industra Bank at the website www.industra.finance, or to receive information upon request in any of the Industra Bank customer service centers.

After joining the customers of Industra Bank, the customers of PrivatBank will be able to use the services, which have not been available at PrivatBank, for instance: cash operations, payment cards. Industra Bank also offers significantly more extensive servicing opportunities in person. See the location of the Industra Bank customer location centers at the Industra Bank website.

Account management

No, other account numbers are reserved for You at Industra Bank for usage as from 20 August. As soon as You will receive information regarding Your new account numbers, we invite You to inform Your business partners, employer, as well as other payers (for instance, SSIA, SRS etc.) regarding these account numbers, in order to avoid a situation, when a salary, a pension or other payments due to You are not credited.

We will individually inform each customer regarding the new account number and other practical transfer aspects, using all the means of communication, which are at our disposal – by mail, by e-mail, through the PrivatBank internet bank. We will also draw attention of the customers to the sent information through SMS.

We would like to emphasize that the new account number will be activated on 20 August, 2022 and that up until this date, it is impossible to use it.

As from 22 August, 2022, information regarding account or loan balances and regarding loan payments to be made will be available to the PrivatBank customers, by calling the Contact center of Industra Bank during working hours (during workdays, as from 8.30 up until 18.00) by phone +371 6701 9393 and by authorising with own PrivatBank voice password.

We invite the customers to make sure of the presence of a voice password in PrivatBank (in account opening agreement, Customer Service Center (Muitas street 1, Riga) or Privatbank internetbank).

Statements of PrivatBank accounts for the period of time up until 19 August, 2022 (inclusive) will not be available in Industra Bank. Which is why, we invite you to save and/or to print out the required statements of PrivatBank accounts, for the previous periods of time up until 19 August, 2022 (inclusive). As from 20 August, 2022 up until 20 October, 2022, PrivatBank will ensure free-of-charge provision of account statements. In order to receive statements of accounts, send a request in internet bank or e-mail message to welcome@privatbank.lv with attached an application, which is signed with a secure electronic signature, to the bank, indicating the account number and the period of time, for which you would like to receive a statement of account.

From 21.10.2022. account statements can be obtained by sending PrivatBank an application signed with a secure electronic signature in accordance with PrivatBank’s pricelist.

In order to manage own accounts in the internet bank of Industra Bank, You will need to conclude a contract with Industra Bank regarding internet bank usage. Currently, Industra Bank is developing a process for remote signing of a contract on internet bank, in order to provide You with a possibility to receive access to internet bank of Industra Bank soon after the transfer. As from 15 August, 2022, Industra Bank will place practical indications for remote connection of internet bank at its website www.industra.finance.

Up until 19 August, 2022 (inclusive), the customers may continue receiving services in person at 1 Muitas Street, Riga. After 20 August, 2022 customers will be serviced by Industra Bank at its places of service.

Following 20 August, 2022, regarding all issues concerning current, transferred contracts, You must apply to Industra Bank.

In turn, regarding the transactions, which have been concluded up until 19 August, 2022, or, in order to receive account statements for the previous periods of time, send a request to PrivatBank, by submitting it to the internet bank of PrivatBank, or by sending an application, which is signed with a secure electronic signature, via e-mail welcome@privatbank.lv to PrivatBank, and indicating the account number and the period of time, for which You would like to receive a statement of account. PrivatBank will no longer ensure customer servicing in person as from 20 August.

From 21.10.2022. account statements can be obtained by sending PrivatBank an application signed with a secure electronic signature in accordance with PrivatBank’s pricelist.

Loans and Lease

All the concluded loan contracts, inter alia, commercial loan contracts, contracts on mortgage loans, contracts on payment card credit limits and lease contracts, will remain in effect in accordance with the current provisions, and will be automatically transferred to Industra Bank. The customers do not have to conduct additional activities in relation to transfer to Industra Bank.

We shall send a new account number to each customer, where, further on, monthly loan payments shall be made in accordance with the effective payment schedule, provisions and invoices.

Deposits

All the deposit contracts, which will be transferred to Industra Bank, will be in effect up until their expiry, in accordance with the effective provisions. These will be automatically transferred to Industra Bank. The customers do not have to conduct additional activities in relation to transfer to Industra Bank.

Within the coming days, we will individually inform each customer regarding the detailed transfer plan and the practical transfer aspects, using all the means of communication, which are at our disposal – by sending a letter by mail, by e-mail, through the PrivatBank internet bank. We will also draw attention of the customers to the sent information through SMS.

The customers, where individual accounts have been previously indicated for receipt of the principal deposit amount and interest, will now receive both the principal amount and the interest at the account for pay-out of the deposit principal amount.

Additional information and consultations

In case You have questions or require a consultation regarding transfer to Industra Bank, please contact PrivatBank or Industra Bank:

  • PrivatBank – in the customer service center, 1 Muitas Street, Riga, or by calling 8515 (for calls from Latvia) and +371 6704 1300 for calls from abroad;
  • Industra Bank – in the customer service centers in Riga, Liepaja, Ventspils, Jelgava or Daugavpils (for contact information, please refer to www.industra.finance, to the Contacts and Details section), or by calling the Contact Center of Industra Bank during working hours (during workdays, as from 8.30 up until 18.00) by phone +371 6701 9393.