Serbia· BelgradeSerbia's Alta Banka license revoked over financial concerns and Russian ties
Serbia's National Bank revoked Alta Banka's license, citing financial instability and the bank's reported links to Aleksandar Vučić's circle and popularity among Russian citizens.
Background
Serbia maintains close ties with Russia, despite its stated aim of joining the European Union. This dual approach often leads to scrutiny regarding financial transparency and potential influence, particularly concerning entities with significant Russian connections within the Serbian economy.
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Alta Banka license revoked, impacting Russian citizens in Serbia
First report 17h agoLast update 51m agoThe National Bank of Serbia stated the license was revoked due to a significant deterioration of the bank's financial condition and risks to depositors' interests.
The closure of Alta Banka is noted for its impact on Russian citizens who had accounts there, as it was one of the few banks maintaining payment traffic with Russia.
Alta Banka's license revoked amid financial concerns and Russian ties
First report 19h agoLast update 6h agoThe National Bank of Serbia revoked Alta Banka's license due to a significant deterioration of its financial condition and risks to depositors' interests.
Alta Banka was a key bank for Russian citizens in Serbia, maintaining payment traffic with Russia when other banks were suspending services.
Authorities are investigating all of Alta Banka's foreign transactions following a criminal complaint from the National Bank of Serbia.
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