Serbia arrests bank owner linked to Vucic after bank loses license
The National Bank of Serbia revoked Alta Bank's license on October 30, citing significant financial deterioration. Serbian police detained the bank's owner, Davor Macuro. The bank suspended all payment and branch services. The Deposit Insurance Agency will pay insured deposits within seven days.
- The National Bank of Serbia revoked the license of Alta on October 30.
- Serbian police detained Davor Macuro, the owner of Alta Bank.
- The National Bank of Serbia determined the bank's financial condition significantly deteriorated.
- The Deposit Insurance Agency will be appointed as the bankruptcy administrator by a court decision.
- The Serbian Progressive Party lost power in the parliamentary elections after 14 years in governance.
- Alta Bank was one of the ten largest banks in Serbia.
- The opposition party 'Student List' won at least 140 of 250 seats in the National Assembly.
- Alta Banka suspended payment card operations, domestic and foreign transaction settlement services, and branch network operations.
- The Deposit Insurance Agency will allow payment of insured amounts within seven working days.
- Prosecutors investigating organized crime began an inquiry into Alta Bank's operations.
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