Queues Outside Alta Banka in Novi Sad After Serbia's Central Bank Shut It Down Overnight
60 Articles
60 Articles
The National Bank of Serbia withdrew its license to Alta banka, a bank suspected of close ties with the party of former President Aleksandar Vucic, just defeated in the elections The Bank
The Central Bank of Serbia has revoked ALTA Bank's operating license, citing a serious deterioration in its financial situation. The bank, long a subject of controversy due to its ties to the ruling Serbian Progressive Party (SNS), has also faced allegations of making high-value money transfers abroad.
The Serbian Central Bank (NBS) has revoked the operating license of Alta Bank, owned by Davor Macura, a businessman close to the SNS party of former President Aleksandar Vučić, which lost power in elections last Sunday after 14 years. Alta's license was revoked "in order to protect savers and maintain the stability of the financial system."
The Central Bank revoked the operating license of ALTA Banka with assets of 1.84 billion euros - The owner's connections with the ruling party and the complaints that preceded it.
A banking drama is unfolding in Serbia!
Queues outside Alta banka in Novi Sad after Serbia's central bank shut it down overnight
The National Bank of Serbia revoked Alta banka's license on Friday, citing a "significant deterioration" in its finances and a threat to depositors. Accounts have been frozen since Thursday and branches are closed. Deposits are insured up to...
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