The Executive Board of the National Bank of Serbia decided at yesterday's meeting to revoke the banking license of Alta Bank, headquartered in Belgrade, an official announcement from the institution was made.
Alta Bank is owned by businessman Davor Macura, who in mid-October returned from Podgorica airport after Montenegrin authorities refused him entry into the country for national security reasons.
"The National Bank of Serbia, after carrying out control actions and imposing temporary measures, with the aim of protecting depositors and other creditors, as well as preventing the spread of negative effects on society and the economy, decided on October 30 to revoke the banking license of Alta Bank ad Beograd.
"At the same time, through the decision on fulfilling the conditions for initiating bankruptcy proceedings against this bank, the National Bank of Serbia has transferred the administration to the Deposit Insurance Agency. Also, relevant procedures have been initiated against the bank, its shareholders, management bodies and other responsible persons," the announcement says.
According to Serbian authorities, this measure ensures that Alta Bank's assets remain under supervision and are not misused, so that all creditors, especially individuals and businesses that have deposits in this bank, can regain access to their funds as soon as possible.
Depositors will be notified in due time of which banks they will be able to withdraw their deposits up to the insured limit of 50 thousand euros, as well as the method of declaring and settling other financial claims.
The Central Bank of Serbia emphasizes that this procedure does not release the bank's debtors from their financial obligations. After the initiation of bankruptcy proceedings, they will receive clear instructions on how to repay their obligations to the bank.
"It is essential that at this moment all creditors and bank customers understand that this procedure protects their rights, but at the same time preserves the financial stability of the banking sector and the financial market. All of these are prerequisites for the orderly functioning of our economy."
"Protecting depositors and their financial claims is a priority. In order to guarantee and maintain this protection at the highest possible level, it is necessary that the entire process be conducted in an informed manner. Both the National Bank of Serbia and the Deposit Insurance Agency will make every effort to complete the procedure as quickly as possible, in a transparent manner and taking into account the impact on all market participants," the statement further states.
"The bank's financial condition has deteriorated significantly"
In another announcement published earlier this morning, the National Bank of Serbia announced that the decision to revoke the license was preceded by a series of controls, which aimed to guarantee an increase in the bank's liquidity level.
The verifications showed that the financial situation of the institution had deteriorated significantly during the recent period and that there was a risk of a further deterioration of the financial situation or liquidity, putting the interests of depositors at risk.
"Since the legal conditions for the revocation of the license to conduct banking activities have been met, in accordance with the Law on Banks, the National Bank of Serbia took the relevant decision in order to protect the interests of depositors and maintain the stability of the financial system.
"The Deposit Insurance Agency will enable the payment of insured amounts and the provision of funds to depositors within seven working days, in accordance with the Law on Deposit Insurance," the institution's announcement states./ Vijesti.me
