The National Bank of Serbia has clarified the responsibilities and next steps for ALTA banka’s clients following the withdrawal of the bank’s operating licence. The Deposit Insurance Agency is responsible for the bankruptcy proceedings and handling the bank’s assets and liabilities, but the competent court must appoint it as bankruptcy administrator before it can access bank records and undertake those duties. Individuals and businesses can seek information from the agency on exercising their rights. A notice setting out the terms, locations and deadlines for insured deposit payouts will be published within three business days of the Commercial Court in Belgrade’s decision to initiate bankruptcy proceedings. This provides procedural detail following the central bank’s separate confirmation that statutory deposit insurance protects up to EUR 50,000 per depositor per bank. Businesses unable to deposit daily takings within the prescribed deadline because the bank has ceased operating can seek clarification from the Ministry of Finance on meeting their obligations under fiscal regulations.
National Bank of Serbia clarifies ALTA banka bankruptcy process and timing of insured deposit notices
The National Bank of Serbia has clarified that the Deposit Insurance Agency needs court appointment before acting as ALTA banka’s bankruptcy administrator. Insured deposit payout details will be published within three business days of the Commercial Court in Belgrade’s decision to initiate bankruptcy proceedings. Businesses unable to deposit daily takings can seek Ministry of Finance clarification on meeting fiscal obligations.