The National Bank of Serbia has revoked the operating licence of ALTA banka a.d. Beograd after finding significant deterioration in its financial condition and a likelihood of further deterioration in its finances or liquidity, threatening depositors’ interests. The revocation followed supervisory activities aimed at enabling the bank to increase its liquidity levels. The Deposit Insurance Agency will be appointed bankruptcy administrator by a court ruling. Under the Law on Deposit Insurance, the agency will arrange payment of insured amounts and make funds available to depositors within seven business days.
National Bank of Serbia revokes ALTA banka’s operating licence after significant financial deterioration
The National Bank of Serbia has withdrawn ALTA banka a.d. Beograd’s operating licence following significant financial deterioration and risks of further financial or liquidity deterioration that threaten depositors’ interests. The Deposit Insurance Agency will be appointed bankruptcy administrator by a court ruling. It will make insured amounts available to depositors within seven business days.