Joint statement of the CBBH, DIA and the FBiH and RS Banking Agencies

The Central Bank of Bosnia and Herzegovina, the Deposit Insurance Agency of Bosnia and Herzegovina, the Banking Agency of the Federation of Bosnia and Herzegovina and the Banking Agency of Republika Srpska address to the citizens of Bosnia and Herzegovina with the following press release:

Institutions in Bosnia and Herzegovina that are participants in the country's financial stability network, through the mechanism of banking coordination of supervisors, monitor the latest developments related to the current geopolitical situation and conflicts in Ukraine, as well as their potential economic effects on banks operating in Bosnia and Herzegovina.

We are aware of the concerns of citizens and the economy due to the issue of the effects of the announced sanctions on the work of banks in Bosnia and Herzegovina, and especially the effects on the work of banks indirectly owned by Sberbank Russia. According to the information available to the competent Entities' Banking Agencies that supervise the work of banks, members of the group based in Bosnia and Herzegovina are directly owned by Sberbank Europe AG, based in Vienna, and are supervised by EU regulatory bodies. Published sanctions have effects only on transactions and clients covered by the sanctions lists. In this regard, such sanctions do not cover banking entities in Bosnia and Herzegovina.

The work of banks in Bosnia and Herzegovina, as well as the ability to maintain the availability and quality of services are not compromised, and there is no need to terminate business relations with any bank in Bosnia and Herzegovina.

Institutions in Bosnia and Herzegovina, in accordance with their competencies and powers, are able to protect depositors even in conditions of prolonged crisis. In addition, our institutions will coordinate all subsequent activities with the relevant EU regulatory bodies, in order to protect the interests of our citizens and the economy.