Greensill Bank customers get US$3 billion in deposit protection scheme

Greensill Bank customers get US$3 billion in deposit protection scheme

Germany's banking private banking association said on Monday that it had paid out around 2.7 billion euros (US$3.17 billion) to more than 20,500 Greensill Bank customers as part of its deposit guarantee scheme after the bank collapsed last month.

FILE PHOTO: Logo of Greensill Bank is pictured in downtown Bremen
FILE PHOTO: Logo of Greensill Bank is pictured in downtown Bremen, Germany, March 10, 2021. REUTERS/Fabian Bimmer/File Photo

FRANKFURT: Germany's banking private banking association said on Monday that it had paid out around 2.7 billion euros (US$3.17 billion) to more than 20,500 Greensill Bank customers as part of its deposit guarantee scheme after the bank collapsed last month.

The banking association said only a few customers had yet to receive compensation under the protection fund, which protects individuals but not institutional investors.

(US$1 = 0.8511 euros)

(Reporting by Tom Sims; Editing by Alison Williams)

Source: Reuters

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