Alta Banka: Deposit insurance payouts to begin following license revocation

The National Bank of Serbia has revoked the operating license of Alta Banka a.d. Beograd to protect depositors and prevent broader economic consequences. The Deposit Insurance Agency announced that payouts for insured deposits will begin no later than seven working days after the Commercial Court in Belgrade issues a formal decision to open bankruptcy proceedings.

Deposits for individuals, entrepreneurs, and micro, small, and medium-sized enterprises are legally protected up to a limit of 50,000 euros per depositor. This protection applies to both dinar and foreign currency accounts, with dinar deposits paid in dinars and foreign currency deposits paid in euros. The Agency will notify clients regarding which bank will facilitate the withdrawals and the specific procedures for claiming funds.

The Deposit Insurance Agency confirmed it possesses sufficient funds to cover all insured amounts. While the legal limit is 50,000 euros per person, this cap applies to the total sum of all accounts held by a single depositor at the bank, including accrued interest.